“Micro, Small and Medium Industries Act 2006, will be in force from October 2 this year, which will facilitate streamlining of all the procedures, rules, regulations, laws and credit flow to the small scale industries. The present shortcomings in the implementation of Single Point Registration Scheme will be addressed very soon. In this regard, the measures being adopted in the US and the European Union will be followed to update all the procedures,? said Shri Sanjeev Kaushal, Joint Development Commissioner of SSIs at a conference held on ?Credit Needs of SSIs and Employment Opportunities? by All India Confederation of Small and Micro Industries Associations (AICOSMIA) and Helpline Twenty First Century (HTFC) in New Delhi on September 7. In order to correct the popular fallacy regarding reservation, Shri Kaushal emphasised that decision regarding reservation would be taken in consultation with the industry associations.
In her blessings, Ma Purnanandaji of Chinmaya Mission exhorted everyone to dedicate himself to the glory of the country and should contribute to the uplift of the society through self-less service. In the daily life, problems develop due to the lack of discipline. With the combination of knowledge and wealth, all the problems could be solved peacefully. For this purpose, all the resources are available within the country, she added.
Shri K.N. Prithviraj, CMD of Oriental Bank of Commerce, pointed out that his bank is coming forward with various innovative and concessional schemes for financing the SSIs. Especially retail financing and infrastructure financing are being given special focus. The new thrust area is to increase credit flow to SSIs by 20 per cent annually, he informed.
Shri Sudarshan Sareen, national president of AICOSMIA, emphasised the importance of small and micro industries in Indian economy, especially in employment generation and significant share in industrial production. However, he talked about the particular problems like inadequate credit, delays in sanctions, much elaborated documentation, higher interest burden and declining credit flow to SSIs. He requested the public sector agencies to implement all the useful policies faster. In order to modernise the SSIs, AICOSMIA and HTFC have set up a Small Industry Knowledge Centre in Delhi. About 250 delegates from across the country participated in the conference. Shri J.M. Garg, GM of Indian Bank, Shri V.K. Nagar, GM of Punjab National Bank, Shri U.R. Tata, GM of SIDBI, Shri Rajesh Dubey, Chief Executive of SMERA Rating Agency and Shri S.K. Menon of NSIC also spoke on the occasion.