With the growth of Indian economy and employment generation capabilities, the Micro, Small and Medium Enterprises (MSMEs) are considered to be the backbone of the national economic structure. As on date, the MSME sector, accounts for nearly half of India’s total exports. This sector is rightfully being seen as a growth booster, providing resilience to ward off global economic adversities on account of the pandemic. The MSME Sector is an important pillar to carry forward the vision of ‘Atmanirbhar Bharat’ and face economic challenging situation posed by COVID-19 pandemic.
In view of the importance of the sector in the economy, the Institute of Chartered Accountants of India (ICAI) today launched MSME Mentorship Programme & 100 Facilitation Centre for MSME/GST during the National Conclave on “Empowering MSMEs towards Aatmaniarbhar Bharat” to make them globally competitive.
With strong ICAI network of 164 branches and 5 Regional Council and over 3 lakh members community, ICAI intends to reach out to MSME across the county to offer them a supporting hand in terms of policy and guidance.
As Partner in Nation Building, ICAI during the Conclave launched following initiatives to support and assist MSME in reaching out to the benefit and schemes provided by the government.
- MSME Mentorship Programme – CAs practicing as SMPs shall provide financial and strategic consultancy to MSMEs and help MSMEs to overcome the financial challenges, augment resources and be judicious in expenditure by becoming their mentors.
- GST and MSME Sahayata Kendra (Facilitation Centres) across India at 100+ locations to guide MSME in developing their business strategy, tax compliances, how various government schemes can help them and also towards resource mobilization, etc.
- MSME Business Continuity Checklist
The conclave also witnessed an engaging technical session with experts from industry. The topics covered in the technical session included Rebooting MSMEs, Various Government Schemes for MSMEs and Alternate Sources of Funding for MSMEs.
Chief Guest on the occasion Shri Om Birla, Hon’ble Speaker, Lok Sabha while addressing the conclave said “MSMEs is the important pillar of the Indian economy and accounts for manufacturing of more than 45% of country’s products and 40% of export respectively. India has over 3.2 Cr. MSMEs which provide employment to 7 Cr. people.”
Applauding the efforts of ICAI he further added “ICAI in its existence of more than 7 decades has always been known for upholding the virtues of Accountability, Integrity and Transparency in every sphere of country’s economic system. Chartered Accountants play a prominent role in functioning of MSME sectors by providing them quality consultancy and policy guidance. Therefore this Mentorship programme for MSME sector is an important initiative that will help boost the development of this sector and will help MSMEs to reach out to various govt. Initiatives. The Facilitation Centres being opened by ICAI will provide guidance and assistance to MSMEs that will help MSMEs to grow.”
CA. Atul Kumar Gupta, President, ICAI addressing the members, mentioned that “Chartered Accountants are the true partner in nation building and have played a very important role as a Corona warrior of this country for the economy. ICAI is working 24*7 to become a catalyst for socio economic reforms towards Aatmaniarbhar Bharat, 5 trillion dollar economy and to provide support to various Government Initiatives.”
He further added, “Today ICAI is launching one of the largest initiatives in the country to support MSME. CAs will mentor & adopt atleast 1 Lakh MSME units in the next 1 year on pro bono basis to guide MSMEs to overcome the crisis caused by COVID-19 pandemic and become net exporter in next 1-2 Years. In addition to this MSME mentorship programme, ICAI is also starting 100+ Facilitation Centres across India through its branches on pro bono basis free of cost to guide MSMEs on various aspect of economy, like GST, revival of MSMSs and more.”
Further ICAI has also offered its global platform of 37 Chapters & 26 representative office spread across 43 countries for Indian MSMEs to gain export market access through ICAI global presence. This network can be utilised by Indian MSMEs for gaining export market access. On its part, the Government can support through organisation of exhibitions, B2B meetings, networking meets for MSMEs to gain exposure and seize opportunities.
CA. Nihar N Jambusaria, Vice-President, ICAI delivered vote of thanks & said "ICAI in true sprit has always supported various initiatives & schemes launched by the Government for the benefit of stakeholders & public at large be it in supporting launch of GST, spreading awareness about Sabka Vishwas Scheme, Vivad Se Vishwas Scheme or providing policy inputs on various important issues. This MSMEs support programme will also be carryout in a systemic manner and MSEMs would be mentored in various areas, like raising funds, reaching out to government scheme and rebooting to contribute towards economy."
The Conclave was held in the distinguished presence of Central Council members of ICAI, government representatives and members of different segments.