MSME Convention 2016

MSME Convention 2016

Department of Micro, Small & Medium Enterprises

Government of Madhya Pradesh

Micro, Small and Medium Enterprises (MSME) industry has emerged as a highly vibrant and dynamic sector of the Indian economy over the last five decades. MSMEs not only play a crucial role in providing large employment opportunities at comparatively lower capital cost than large industries but also help in industrialization of rural & backward areas, thereby, reducing regional imbalances, assuring more equitable distribution of national income and wealth. MSMEs are complementary to large industries as ancillary units and this sector contributes enormously to the socioeconomic development of the country.

In line with the Central Government’s vision to promote the growth ofMSME in India, the State of Madhya Pradesh with support from Central Government organized MSME Convention 2016 on 1^st& 2^nd October 2016 at Bhopal. The event was inaugurated by the Hon’ble MSME Minister of Govt. of India, Shri Kalraj Mishra and Hon’ble Chief Minister of Madhya Pradesh, Shri Shivraj Singh Chouhan in the gracious presence of the Hon’ble Minister of State, Govt. of India, Shri Giriraj Singh andHon’ble Minister of State, Govt. of IndiaShri Haribhai Parthibhai Chaudhary. This two-day conventionbrought together key decision makers from across the MSME industry and senior officials from the Government. A large gathering of about 2,000 delegates consisting of leading industrialists, prospective entrepreneurs and ministers attended the meet. Other key participants were the, MSME’s of the state, Association members, Government officials, Young graduates, skilled development organizations, Private equity & Venture Capitalist, Start-ups & Incubators, distinguished personages and media representatives.

In its constant endeavor to improve the business environment in Madhya Pradesh, the State Government used the platform to unveil the vision document for the newly established Department of MSME. The State also unveiled Madhya Pradesh Incubation &Startup Policy 2016 in the event to provide a robust growth platform for young entrepreneurs of the State. The State’s nodal agency for promotion and development of MSMEs in the State, Madhya Pradesh Laghu Udyog Nigam (MPLUN) signed an Memorandum of Understanding (MOU) with India’s leading online lifestyle platform LimeRoad,which has vendors and users posting 200,000+ products and looks per month.

The Convention showcased special exhibition of identified MSME’s from MP and invited anchor units from sectors identified for promoting vendor development programme. The exhibitors had the opportunity to interact with anchor units for business development and there were parallel sessions on Public Procurement Policy and schemes run by District Commission, MSME. Also during the Convention there were various experts from the MSME fraternity as panelists who covered a wide range of topics across sessions. These discussions were of significant assistance to the young and aspiring entrepreneurs of the state.

Key Elements of the MSME Convention

Ø  Foundation ceremony of MSME Technology Centre, Acharpura, Bhopal

Ø  Unveiling of Madhya Pradesh Incubation & Startup Policy 2016

Ø  Launch of MSME Vision Document

Ø  MSME Awards FY 2013-14,2014-15 & 2015-16

Ø  Session on Madhya Pradesh Incubation & Start-ups

Ø  Session on Vendor Development

Ø  Session on Skill Development

Ø  Session on MSME Vision

Ø  Valedictory Session

Ø  Exhibition

Ø  B2B Meetings&  GoI Seminars

Salient features of theunveiled Madhya PradeshIncubation & Start-up Policy 2016

 

•   To bridge the gap between angel investors &venture capitalists (VCs), the policy envisages to create dedicated ‘Innovative Incubation Network’ & ‘Angel Investors/Venture Capitalist Network’ through an online portal.
•  For Host Institutes/Incubators, the policy offers range of fiscal incentives such as capital assistance, operational assistance for recurring expenses, stamp duty & registration fee reimbursement, mentoring assistance for startups and support to incubators in organizing startup competitions.
•   For entrepreneurs/startups, policy offers fiscal incentives such as interest subsidy, lease rental subsidy, patent &quality promotion subsidy and startup marketing assistance.
•   Policy incentives shall be in addition to the incentives provided by Govt. of India