The World is looking towards India and India presents a significant competitive advantage: Shri Jayant Chaudhary

Bhubaneswar, Odisha – March 20, 2025:The National Institute for Entrepreneurship and Small Business Development (NIESBUD), under the aegis of Ministry of Skill Development and Entrepreneurship successfully concluded its two-day Capacity Building Workshop titled “Catalyzing Entrepreneurial Growth: Enhancing Financial Inclusion, Market Access, and Digital Competence”on March 20, 2025.

The workshop brought together a diverse group of participants who engaged in insightful discussions on overcoming barriers to entrepreneurship, such as limited access to finance, market constraints, and low adoption of digital tools. Expert-led panel discussions and practical facilitation sessions provided valuable insights into leveraging government financial schemes, institutional credit options, venture capital investments, and alternative financing models to support business expansion.

The valedictory session of the workshop commenced in the august presence of Shri Jayant Chaudhary, Minister of State (I/C), for Skill Development and Entrepreneurshipand Minister of State for Education, Government of India as the Chief Guestand Shri Sampad Chandra Swain, Minister of State (Independent Charge) for Industries, Skill Development and Technical Education, Government of Odisha as the guest of honor. Shri Atul Kumar Tiwari, Secretary, MSDE, Government of India and Shri Manoj Ahuja, Chief Secretary, Government of Odisha also addressed the entrepreneurs during the session.

Shri Jayant Chaudhary, Minister of State (I/C), for Skill Development and Entrepreneurship,and Minister of State for Education, Government of India, during his address, said “The world is eyeing India for the quality of its products, its citizens, and its businesses, which presents a significant competitive advantage. Our industries must focus on product quality to distinguish themselves globally. To achieve this, industries need to invest in entrepreneurs and support them in every possible way for our economy to progress. Our recent Union Budget 2025 has emphasized initiatives targeting women and underserved categories, with loan sanctions of around ₹10,000 crore under the Fund of Funds (FoF) made accessible for them to embark on their entrepreneurial journeys. The government has implemented various schemes to assist citizens in pursuing their dreams, but these will only be effective if we learn to utilize them as our right.

This two-day training session will catalyze the entrepreneurial spirit in budding entrepreneurs and help them gain a deeper understanding on the government initiatives, financial literacy, market access, and digital competence.”

Theworkshop was attended by more than100 entrepreneurs from Odisha, Bihar, Jharkhand, and Chhattisgarh with most of the entrepreneurs being trained under the SANKALP programme of Ministry of Skill Development and Entrepreneurship. The attendees reported significant gain in their understanding of financial management and funding opportunities. The participants were provided with actionable roadmaps for scaling their ventures and strengthened networks that will aid them in navigating the entrepreneurial landscape. The entrepreneurs were also felicitated by the Shri Jayant Chaudhary during the valedictory session.

Thetwo-day workshop was structured with engaging panel discussions and practical sessions that focused on enhancing the entrepreneurial ecosystem through capacity building of the budding entrepreneurs. The first panel, Building a Strong Entrepreneurial Ecosystem – Challenges & Opportunities, included insights from Shri Durga Prasad Gouda, CEO of Atal Incubation Centre, NIT; Shri Sudhanshu Mohanty, Senior Vice President of the Orissa Chambers of Commerce; Ms. Surekha Routray, Founder & CEO of AashditNutritech Pvt Ltd; and Shri Rashmi Ranjan, Managing Partner of Autosave Startup Studio.

The second panel, Strengthening Entrepreneurial Ecosystem – Access to Finance, Credit Linkages and Government Schemes, that featured Shri Deepak Anand, IAS, Secretary cum CEO of Bihar Skill Development Mission; Prof. Mahadeo P. Jaiswal, Director of IIM Sambalpur; and Shri Nigam Das, Deputy CEO of Odisha Rural Development and Marketing Society (ORMAS),created awareness of government schemes and the ways in which they can be leveraged by the entrepreneurs to grow their businesses. The panels were moderated by Dr. Poonam Sinha, Director, NIESBUD.

An additional session on Digital Growth Strategies led by Shri Anuj Kumar from GeM and Shri Sasank Patro from Sabhvasha Retail Tech Pvt Ltd., provided actionable insights to the entrepreneurs on utilizing platforms like GeM and ONDC for market expansion and a third panel engaged in conversations on Credit Linkages & Financial Inclusion, featuring Smt. Shubha Sharma, IAS, Principal Secretary, Women and Child Development, Govt. of Odisha and other financial experts who offered guidance on accessing government-backed financial schemes essential for entrepreneurs’ growth.

A Memorandum of Understanding was also exchanged between NIESBUD and IIM Sambalpurwith the objective of furthering the entrepreneurial climate in the state of Odisha.

The initiative aligns with India’s vision for Atmanirbhar Bharat by promoting inclusive entrepreneurship that is digitally enabled. A follow-up mechanism will be established to track the implementation of learnings from the workshop and assess their impact on entrepreneurship development in the region.