SIDBI steps ahead for SIDBI MSME Conclave in Bhubaneswar- Second of its six series of Nationwide Conclaves for Indian MSMEs

• SIDBI MSME Conclave, brings together MSME’s, policymakers, and ecosystem enablers.
• It aims to catalyse the next wave of growth opportunities, tackle challenges and foster knowledge exchange and networking to establish the groundwork for sustainable growth in Indian MSMEs

Bhubaneswar, January 18, 2024: Small Industries Development Bank of India (SIDBI), organised a MSME Conclave at Bhubaneswar, Odisha. The event was marked by the presence of eminent speakers of the MSME ecosystem in India including policymakers, financial stalwarts and MSME stakeholders.

The ‘Bhubaneswar Conclave’ discussions were centered around building a robust MSME ecosystem in Odisha, empowering MSMEs of the state towards scaling up innovation,  uplifting entrepreneurship, Green initiatives, boosting Micro Enterprises, supporting the growth of Startup ecosystem and creating more employment opportunities. 

The event was graced by the special presence of Shri Saswat Mishra, Principal Secretary, MSME, Government of Odisha, who highlighted Cluster Development initiatives. He also talked about MSME Contribution, policy frameworks like incentives & supporting infrastructure. 

Shri Sudatta Mandal, DMD, SIDBI, in his keynote address highlighted the role played by SIDBI in scaling up small and medium enterprises and promoting entrepreneur culture in Indian MSMEs. He also, talked upon SIDBI’s contribution in MSMEs growth journey through several initiatives of the Bank along with the recent intervention in the areas of cluster development, venture capital, green finance, digital initiatives etc.

Dr Omkar Rai, Executive Chairman, Startup Odisha, while addressing on the entrepreneurship sector of the state highlighted how programs are intended to catalyze growth, like government-based grants for startups in their incubators that include the possibility of a no-ceiling grant. 

Expanding on the role played by SIDBI, Shri Arup Kumar, Chief General Manager, SIDBI, spoke about the setup of SIDBI venture to provide equity support. He also highlighted SIDBI’s role in setting up easy credit mechanism and embedding a green investment culture in MSME’s. Shri Kumar also explained the role played by Open Network for Digital Commerce (ONDC) in enabling market access for small enterprises and SIDBI’s role in furthering the above objective.

Shri Pramod Kumar Vijayvargiya, General Manager, SIDBI touched upon the vibrant startup ecosystem in Odisha, various credit and developmental initiatives of SIDBI in the state and invited various stakeholders for interactions / partnerships for the development of MSME ecosystem.

The panel discussion marked by the presence of various speakers focused on steering discussions towards cultivating financially resilient and competitive MSMEs.  Some of the other eminent speakers from the panel included Ms Sumona Karjee Mishra, Founder, Prontoe Solutions; Ms Divya Mallick, Co-founder and CEO, TYPOF; Shri Gyan Ranjan Das, Founder, Innocule Materials & Additives; Shri AK Sharda, Honorary Secretary, The Utkal Chamber of Commerce and Industry and Shri Subas Kumar Sahoo, Assistant Director, MSME-DFO, Cuttack.

The SIDBI MSME conclaves present an opportunity for participants / stakeholders to partake in the enlightening discussions, knowledge-sharing sessions, networking, identifying opportunities and solutions etc., while acknowledging the booming local MSME landscape.  Each regional conclave shall have its own sphere and diverse discussions, for a globally competitive, future ready Indian MSME ecosystem.