The Micro Small and Medium Enterprise (MSME) sector in India is set to achieving the targeted growth rate of our nation. This sector nurtures budding entrepreneurs and incubates innovation at its most rudimentary level. With the country moving towards a more inclusive growth agenda, a robust MSME sector can accelerate the growth rate, as they do not necessitate huge investments while simultaneously acting as ancillary units to larger industries. Hence, for the growth of the manufacturing sector in the country and specifically in the eastern region, government is putting more focus on the MSME sector.
The number of new MSMEs has been consistently increasing across the nation. Financial support can be attributed as a reason for this. This has been possible through various debt instruments, limited equity capital and a slew of government schemes. Public and Private sector banks have been pioneers in providing financial assistance to several MSMEs which can approach the banks for loans under various schemes.
Considering the need, CII has set up an Online SME Finance Facilitation Centre (CII FFC). The Centre is providing advisory and credit facilitation support to SMEs. CII FFC has received encouraging response after launch in June’2014.
Against this backdrop, CII is organizing Second Edition of MSME FinFest 2018 at 1000 Hrs on 28 June 2018 at The Gateway Hotel, Kolkata. The seminar aims at bringing multiple Banks, Financial Institutions, Government Agencies, NBFCs and Service Providers in a single platform to showcase their supports, offers and various financing opportunities available for the MSMEs and Startups in the region.