CII Jharkhand’s MSME Summit Highlights Growth and Sustainability

Jamshedpur Hosts MSME Summit, Focuses on Business Development

The Confederation of Indian Industry (CII) Jharkhand’s MSME Growth Summit, held at Hotel Alcor in Jamshedpur on January 12, 2024, centered on fostering development and sustainability for Micro, Small, and Medium-Sized Enterprises. The event, graced by notable industry leaders, underscored the pivotal role of MSMEs in India’s economic progression and explored new opportunities for growth.

JAMSHEDPUR – The one-day MSME Growth Summit by CII Jharkhand in Jamshedpur was a landmark event in the industrial landscape of the region.

Ranjot Singh, Vice Chairman of the CII Jharkhand State Council, concluded the summit with a vote of thanks, acknowledging the contributions of all participants.

Bhor Singh Yadav, IAS, Director of the Department of Industry, Government of Jharkhand, and the summit’s Chief Guest, lauded CII Jharkhand’s initiatives and discussed the government’s efforts to bolster MSME development.

He highlighted the upcoming establishment of the MSME Commissionerate and the increase in capital subsidy from 25% to 40% under the new policy.

Suvendra Behera, Deputy Chairman, CII Eastern Region, praised Jharkhand’s new MSME policy for its proactive approach in promoting the sector.

Rear Admiral AK Verma, VSM (Retd), shed light on the defense industry’s opportunities for Jharkhand’s MSMEs, emphasizing the potential benefits of the "Make in India" campaign.

Tapas Sahu, Co-Chairman, CII ER MSME Subcommittee, urged MSMEs to focus on technology enhancement and R&D for further growth.

Rajiv Bansal from Tata Motors discussed the employment potential of MSMEs, suggesting the sector could create 600 million new jobs.

Ujjal Chakraborti, Chairman of the CII Jharkhand State Council, emphasized the significant contribution of MSMEs to India’s GDP, manufacturing output, and exports.

The summit began with a keynote by Shiv Siddhant Narayan Kaul, Chairman of the CII Eastern Region, setting the tone for a day of insightful discussions and networking.

This event not only highlighted the critical role of MSMEs in India’s economic fabric but also offered a platform for key stakeholders to discuss strategies for sustainable business development.