Entrepreneurs gain valuable insights at FICCI FLO's seminar on MSME in Kolkata

The seminar, held last week, featured prominent speakers, including Mamta Binani - President of the MSME Development Forum - West Bengal Chapter, Mr PC Khurana - Zonal Head of Central Bank of India, and Sunil Bhoruka, Director of Suvidha Consultants Limited.

The speakers noted that 96% of enterprises in India fall under the small sector. The session provided a comprehensive overview of the MSME sector as a key driver of India's economy, fostering entrepreneurship and creating significant employment opportunities with low capital investment.

West Bengal boasts the second-highest number of MSME units in the country, with a staggering 89-90 lakh registrations. This sector contributes a significant 30% to the nation's GDP and provides employment to a remarkable 11 crore individuals.

The aspiring and existing entrepreneurs in Kolkata gained valuable insights into the MSME (Micro, Small and Medium Enterprises) sector.

A local entrepreneur who attended the seminar shared her journey of starting with just one stitching machine and growing her business into a successful store, with the help of the support she received from the MSME programme.

This powerful example underscored the transformative potential of MSMEs for aspiring entrepreneurs.

Discussions also covered the challenges faced by MSMEs, such as finding markets due to fierce competition, not only domestically but also from international players. Another challenge faced by MSME is securing funds.

The speakers, Mamta Binani, PC Khurana, and Sunil Bhoruka, shared deep insights, offering their expertise and fostering an approachable atmosphere during their time with the participants.

One of the speakers delivered a presentation to further enhance understanding of key concepts.

Shradha Murarka, Chairperson of the Kolkata Chapter of FICCI-FLO, stated “Today’s discussion aimed to highlight the opportunities and challenges within the MSME landscape, particularly concerning the empowerment of women entrepreneurs. The expertise and knowledge shared by DR Mrs Mamta Binani, the engaging dialogues, sharing of best practices, and fostering collaborations, have enriched our understanding and will empower more women to embark on entrepreneurial journeys within the MSME sector.

"As we move forward, we carry the knowledge and inspiration gained today to bridge the gap between MSMEs and women entrepreneurs, fostering an environment where everyone has the opportunity to thrive.” Shradha also emphasised the urgency towards a future where every woman entrepreneur has the opportunity to realize her full potential and contribute to the growth and dynamism of our economy."

The Ministry of Micro, Small & Medium Enterprises (MSME) is introducing exciting new schemes specifically designed to empower women entrepreneurs.

Starting July 1st, these schemes will offer targeted support to women-led start-ups. To ensure the program truly benefits women, the ownership criteria specifies that a woman must hold at least 51% of the shares in the start-up.

This majority ownership allows women entrepreneurs to make critical decisions and steer their companies' direction.

This initiative by MSME is a significant step towards fostering women's leadership in the Indian startup ecosystem.

By providing targeted support, these schemes have the potential to unlock the immense potential of women entrepreneurs and contribute to the overall growth of the Indian economy.