EBM News
EBM News

MSMEs told to explore business opportunities for growth in CII-Andhra Pradesh’s ‘Integrate 2020’

VIJAYAWADA: Confederation of Indian Industry (CII), Andhra Pradesh, organised ‘Integrate 2020’, a virtual conference-cum-exhibition with the theme ‘Connect with World of Opportunities’ on Friday.  Addressing the inaugural session, SBI Managing Director CS Setty lauded the CII initiative in organising ‘Integrate 2020’.

Referring to the current scenario, he said right strategy, governance and technology need to be adopted to mitigate the problems of MSMEs. He stated that SBI is planning to set up an e-commerce portal Bharat Craft to market the products manufactured by MSMEs with the facility of financing option to meet their business requirements.

AP MSME Development Corporation Chief Executive Officer R Pavana Murthy said the MSME sector has emerged as a highly vibrant one of the Indian economy and in recent years it has achieved a higher growth rate.

MSMEs play a crucial role in providing large scale employment with a comparatively lower capital and help in industrialisation of rural and backward areas, thereby reducing regional imbalances, assuring equitable distribution of national income and wealth, he said, describing Aatmanirbhar Bharat Abhiyaan as a major fiscal stimulus and relief package for MSMEs to assuage India’s economic predicament amidst the COVID-19 pandemic.

He also mentioned that the Andhra Pradesh government has laid emphasis on development of infrastructure by setting up three major seaports, an international airport, and upgrading airports in the State, which will generate huge business opportunities for MSMEs.

Visakhapatnam Special Economic Zone (VSEZ) Development Commissioner A Rama Mohan Reddy said VSEZ strives to provide employment opportunities, attract investment and promote exports for the growth of the economy.

Referring to the vision of Prime Minister Narendra Modi to make India a manufacturing hub, he said VSEZ provides a single-window clearance and encourages MSMEs to set up units in the SEZ at very reasonable land cost.

CII AP chairman D Ramakrishna said that identifying the business opportunities, enhancing the skills and knowledge, and adopting digital technology are the focus areas for growth of the industry. He felt that industries need to take advantage of digital trade fairs, exhibitions and conferences to explore the business opportunities in the current scenario.