The Business Bytes
TBB BUREAU
BHUBANESWAR; JANUARY 18, 2024
The Small Industries Development Bank of India (SIDBI) recently spearheaded a Micro, Small, and Medium Enterprises (MSME) Conclave in Bhubaneswar, marking a significant gathering of influential figures in India’s MSME ecosystem. Policymakers, financial leaders, and MSME stakeholders converged to discuss and strategize initiatives aimed at fortifying Odisha’s MSME sector.
Themed the ‘Bhubaneswar Conclave,’ the event revolved around fostering a robust MSME ecosystem in Odisha. Key topics included scaling up innovation, nurturing entrepreneurship, promoting green initiatives, boosting micro-enterprises, supporting startup growth, and creating more employment opportunities.
Saswat Mishra, Principal Secretary of MSME, Government of Odisha, graced the occasion, emphasizing Cluster Development initiatives and shedding light on MSME contributions. Mishra delved into policy frameworks, incentives, and supporting infrastructure vital for the growth of the MSME sector.
In his keynote address, Sudatta Mandal, Deputy Managing Director of SIDBI, underscored SIDBI’s pivotal role in elevating small and medium enterprises. Mandal elaborated on SIDBI’s contributions, detailing initiatives in cluster development, venture capital, green finance, and digital interventions.
Dr. Omkar Rai, Executive Chairman of Startup Odisha, focused on programs designed to catalyze entrepreneurship growth in the state. He highlighted government-based grants for startups, including the possibility of a no-ceiling grant within their incubators.
Arup Kumar, Chief General Manager of SIDBI, elaborated on the establishment of SIDBI Venture to provide equity support. Kumar emphasized SIDBI’s role in creating easy credit mechanisms and fostering a green investment culture in MSMEs. He also outlined the Open Network for Digital Commerce (ONDC) and its role in facilitating market access for small enterprises.
Pramod Kumar Vijayvargiya, General Manager at SIDBI, delved into the vibrant startup ecosystem in Odisha, discussing various credit and developmental initiatives. Vijayvargiya invited stakeholders to engage in interactions and partnerships for the continued development of the MSME ecosystem in the state.
A panel discussion featuring eminent speakers such as Sumona Karjee Mishra, Founder of Prantae Solutions; Divya Mallick, Co-founder and CEO of TYPOF; Gyan Ranjan Das, Founder of Innocule Materials & Additives; AK Sharda, Honorary Secretary of The Utkal Chamber of Commerce and Industry; and Subas Kumar Sahoo, Assistant Director, MSME-DFO, Cuttack, centered on cultivating financially resilient and competitive MSMEs.
The SIDBI MSME conclaves offer a platform for participants and stakeholders to engage in enlightening discussions, knowledge-sharing sessions, networking, and identifying opportunities and solutions. Each regional conclave tailors its discussions to the local MSME landscape, aiming for a globally competitive and future-ready Indian MSME ecosystem.
