An Innovation Summit-2014 on ‘Enhancing Innovative Capacities of Micro, Small and Medium Enterprises (MSMEs), Role of Bank, Financial Institutions & Training Providers’ was held on 17th September, 2014 at PHD Chamber, New Delhi. The summit was chaired by Shri Kalraj Mishra Hon’ble Minister of Micro, Small and Medium Enterprises (Govt. of India). The objective of the summit was to provide a comprehensive knowledge about the role of banks, financial institutions and training providers to set up small and mini scale industries in India. More than 200 delegates from various fields such as industries, educational institutions and financial institutions participated in the summit. Mr. Pradeep Singla, Assistant Professor, along with four students Parul, Shiwangi, Nitin and Prateek from Electronics & Communication Engineering Department and Mr. Sumit Saroha, Assistant Professor along with two students Mr. Anurag Chauhan & Mr. Mayank Tyagi from Electrical and Electronics Engineering, Department of Dronacharya Group of Institutions, Greater Noida.

The summit was scheduled from 10:00 AM to 4:00 PM and divided into pre-lunch session and post lunch session. The event started at 11:00 A.M. with lightning of lamp by Chief Guest, Shri Kalraj Mishra, Hon’ble minister of Micro, Small and Medium Enterprises (Govt. of India) with all dignitaries. After Lightning, session started with the inauguration speech by Mr. Sharad Jaipuria, President, PHD Chamber at 11:10 AM In his speech, Mr. Jaipuria discussed about the value of innovative ideas and technologies in economic development of a nation. He briefed about entrepreneurship environment in India by application of innovative techniques used in small scale business, software development, organic farming, clustering of innovation, innovative framework significance in research and development cell of educational institutions and industries of small as well as large scale. Following the inaugural speech of Mr. Jaipuria, there was a theme Presentation by Mr. S.K. Sarkar, Chairman, Committee of Innovation, PHD Chamber. He discussed the development of Germany by the implementation of MSMEs through the quality of engineering. He also enlightened various issues of unemployment in India and according to him, 30 % of Indian graduates are unemployed and having difficulties in finding work. So, the implementation of MSMEs scheme not only provides employment to them but can also play a vital role in development of our country.

At 11:30 AM Vice President, PHD Chamber, Mr. Mahesh Gupta presented industrial as well as agriculture sector prospective of innovation and MSMEs same as that of Japan and Taiwan. He also discussed the NIESBUD portal for registration of job seeker, trainer and professional. And following to him, at 11:45 AM Mr. A.K. Jha, IES, Director General, NIESBUD, Ministry of MSME, Govt. of India discussed the application of Innovation at commercial sector. He said that there should be more and more use of CSIR labs for development of innovative techniques and MSME is very helpful in economic development of our country in this competitive environment.

At 11:50 Shri Kalraj started his speech with the inauguration of the PHD-MSME mobile app developed by Delhi University delegates with other dignitaries. The chief guest arose many issue related to the MSME’s. He discussed the various problems which are generally faced by new entrepreneurs like Problem of getting loans for MSMEs, experience problem, difficult passing schemes of govt., rating problem etc. According to Mr. Mishra, establishment of MSME’s not only helpful in economic development of our country in this competitive environment but also provide Employment to the people. He briefly discussed some of the other issues like Credit guarantee fund, Small scale industries, Development of skills of entrepreneurs through training programme’s, Ladies, SC & ST entrepreneurs in rural areas, Confidence for unemployed graduates for doing some work, Skill development institutions, Role of R&D in innovation.

After the speech of Ms. Usman Rana, Head Northern Region, NSE started her speech on ‘National Stock Exchange Point of View MSME Platform’. In her speech, she discussed different issues such as regulatory framework, role of merchant bankers, issues regarding capital investment regulatory for issuers & investors and discussed about platform of trading and institutional trading platform process to get fund from Govt.

AAt 01:20 P.M. Mr. Ajay Thakur, Head BSE SME started his speech. He not only discussed BSE point of view SME platform but also discussed about innovation in funding of Ideas. Mr. Thakur also provided the information about the benefits of registering their company to sensex and how it could be possible.

At 01:30 PM Mr. Pradeep Sharma, Chief Manager, Consultancy Services Cell, State Bank of India fall light on Innovative ideas adopted by SBI from early fifties to now. The pre- lunch Session of Summit ended with speech of Mr. Krishan Pratap Singh, IRS, Additional Director General and Directorate General of Export Promotion. He discussed Taxation and Financial matters of various goods not only at state level but also at centre level.

The post lunch session was carried out at 2:45 P.M. with a speech of Dr. Jyoti S.A. Bhat, Advisor (scientist-‘G’) Department of Scientific and Industrial Research, Ministry of science and technology, Govt. of India on new challenges in changing technology and Govt. initiative on this changing environment.

At 03:10 PM Mr. Tahsin Zahid, Member-board of Apprenticeship Training, Ministry of HRD, Govt. of India delivered speech on Training & Learning program initiated by Government. Then Dr. J. S. Juneja, Chairman, Global Projects & Services Pvt. Ltd. discussed about role of Research & Development Labs of various educational institutions. Ms. Ritu Marya, Editor-in-Chief, Franchise India, Holdings Ltd. discussed some management prospective regarding demand and supply chain for the reduction of cost of innovation. At 3:40 PM summit was concluded by Mr. A.K. Jha, IES, Director General, NIESBUD, Ministry of MSME (Government of India).