INNOVATION SUMMIT 2014

Innovation Summit 2014 to deliberate on Enhancing Innovative Capacities of MSMEs, Role of Bank, Financial Institutions & Training Providerswas organized by PHD Chamber of Commerce & Industry in collaboration with the Ministry of Food Processing Industries, Government of India on 17th September, 2014 at PHD House, New Delhi. Dr. Sahab Singh, Assistant Professor along with student  Lokendra Yadav, Department of Management Studies from Dronacharya Group of Institutions, Greater Noida attended  the summit.

PHD Chamber of Commerce and Industry, established in 1905, is a proactive and dynamic multi-State apex organization working at the grass-root level and has strong national and international linkages. It acts as a catalyst in the promotion of industry, trade and entrepreneurship. It basically, is more than an organization of the business community, as it lives by the chosen motto ‘In Community's Life & Part of It’ and contributes significantly to socio-economic development and capacity building in several fields.

The main objective of this summit was to enrich the original dimensions of MSMEs and to discuss the obstacles in adopting it in all possible sectors by bringing selected speakers and eminent personalities from government, academia and corporate on a common platform.

Session 1: Inaugural Speak

Mr. Jatinder Singh, Sr. Secretary, PHD Chamber, requested chief guest and delegates to leave dais for lighting the lamp and session began with the welcome note of Dr. Sharad Jaipuria, President, PHD Chamber complimented the Government for being proactive towards the industry by formulating policies that would mount up higher growth to India and greeted chief guest for sparing valued time to address the audience over opportunities in MSMEs for the young generation in India.

Mr. S K Sarkar, Chairman Committee on Innovation, PHD Chamber, presented theme on Prosperity, Harmony and Development has given valuable technical inputs over MSME.

Mr. Mahesh Gupta, Vice President, PHD Chamber, emphasized on the innovation and said we have numbers of scientists in our country but are not taking the innovative ideas from them otherwise it can reduce the poverty and can help in increasing the capability in all sectors.

Mr. A K Jha, IES, Director General, NIESBUD, Ministry of MSME, Govt. of India, has enunciated that how we can take our small business to the next level and how we can be benefitted by the NIESBUD.

Honorable Union Minister, Shri. Kalraj Mishra, Ministry of MSME, Government of India, Stated in his key address that MSME across the country needed capital at relaxed rates of interest to run their enterprises and cater to the needs of their big brothers as well as contributes substantially to India’s manufacturing and external engagements. Concerned Ministry has been working hard to make sure that the new government succeeds in setting up of Credit Guarantee Trust Funds (CGTF) to extend liberal packages to MSME as a whole and inputs have already been incorporated in the new draft MSME Policy which is at the advanced stage of finalization.  The government proposes to roll out the new policy in the next 30 days as per stipulation of the new policy, the general procedures as well as procurement procedures would be vastly simplified and all clearances for setting up of micro and small businesses would be accorded online within a fixed period of 15 days, assured the Minister.  
President and Vice President of PHD Chamber of Commerce and Industry thanked the Minister for making sure that MSME segment which is an important stakeholder in the space of PHD Chamber for making sure that the new government would treat it with base rate interest facilities.

Session 2: Innovative Strategies for Sustainable MSME Financing

The meeting was presided by Mr. Tahsin Zahid, Member-Board of Apprenticeship Training, Ministry of HRD, Government of India, advocated to see beyond the mirror rather than standing in front of it.

Ms. Usman Rana, Head Northern Region, National Stock Exchange, suggested entrepreneurs be listed in the NSE as it helps the organization in recognition, branding and growing fast.

Mr. Pradeep Sharma, Chief Manager, Consultancy Services Cell, SBI, made this discussion fruitful by discussing how an entrepreneur can get a good counseling and credit to start his own business from the bankers.

Mr. Krishna Pratap Singh, IRS, Additional Director General, Directorate General of Export Promotion Council of India, also has shared much of his intellectual ideas on how we can contribute a lot in our GDP by exporting the various goods and services through our small businesses.

Mr. Ajay Thakur, Head BSE SME, has stressed upon how a small entrepreneur can be a big asset to the nation and why we should do it.

Session 3: Enterprise and Skill Development for MSMEs

Dr. Jyoti S A Bhat, Advisor (Scientist-‘G’) DSIR, Ministry of Science & Technology, Government of India, has articulated over the activities of the DSIR and emphasized very seriously that we should focus on the  development of our skills along with qualification rather than thinking of any certification.

Ms. Ritu Marya, Editor-in-Chief, Franchise India Holdings Ltd, shared a real inspirational story of entrepreneurship and motivated all audience.