Entrepreneurship Promotion

COWE Conducted one day Seminar on Government Schemes and Subsidies to set up MSME Units for budding and aspiring entrepreneurs

MSMEs generate more employment than Medium and Large companies: Suresh Babu, Additional Director, Commissioner of Industries

mail.google.com_3Hyderabad, October 05?..Confederation of Women Entrepreneurs (COWE),?a non-profit trade body of successful women entrepreneurs organised a One Full Day??Seminar on Government Schemes & Subsidies for the benefit of young Entrepreneurs, budding and aspiring entrepreneurs here in city?on Saturdayat Hotel Katriya. The Conference was inaugurated by B. Suresh Babu, Additional Director, Commissioner of Industries.

M. Srinivasulu, Deputy Director of Micro, Small and Medium Enterprises?Development Institute(MSME-DI); C. Venkata Swamy, Chief Manager of The National Small Industries Corporation Ltd(NSIC); Satish, General Manager of?Small Industries Development Bank of India (SIDBI);??Rajveersingh, Managing Director, Apex Cluster Development Service and?Desh Pandey,?National Long Term Expert, MSME Umbrella Programme graced and spoke on the occasion.

?Addressing the gathering immediately after the inauguration, Suresh Babu, Additional Director, Commissioner of Industries said Government is committed for the promotion of industries and entrepreneurship, generating employment by encouraging MSME sector.?Government offers various subsidies for MSME Units as well as women entrepreneurs suh as subsidy on land, plant and machinery, power, Sales Tax etc, he said.??And these schemes are only available in the State of Andhra Pradesh, he said.?In every bi-monthly meeting we approve subsidies worth Rs 250crore aggregating to Rs 1500 crore annually he said. An equal amount of subsidies sanctioned every year to the units located in rural areas, he informed.?Speaking further he added that there are 4400 units of medium and large industries who have invested Rs 96000crore and are generating 10 employment. Whereas there are 1,85,000 units of Small Scale Industries with an investment of Rs 24,000crore and generating 20 lakh employment. Small Scale units generate more employment than medium and large scale units. Hence, we must encourage more Small Scale Industrial units, he observed.While there are only the details of the enrolled companies.??Whereas unregistered units are more than double these numbers he said.??He appreciated COWE in organizing a seminar to create awareness about Government Schemes and Subsidies for industrial sector. And urged that more such Seminars are required. He requested COWE to organize such seminars in Engineering and Management Colleges and Schools.??And assured all the help from the government.

No one cares unbranded goods.??You need to create strong brand to be successful entrepreneur, he said.??The success of entrepreneurship depends on understanding the changing environment of the business and finding out your strength, your skills. Then only we can produce successful entrepreneurship, he said.

Speaking on the occasion Venkata Swamy, Chief Manager of NSIC said the National Small Industries Corporation (NSIC) is a government of India Enterprise operates a single point Registration Schemes, where in the Micro, Small and Medium Enterprises registered with District Industries Centre are eligible for registering with NSIC.??Once they are registered with NSIC, they are eligible to get many benefits when they participate in Tenders floated by Government Departments and PSUs. These include tender sets free of cost, exemption from payment of earnest money deposit and advance intimation of tenders issued by DGS&D, he informed.

Further, MSMEs can get Raw Material Assistance, Tender Marketing, Infodemiary Services, Marketing Assistance through exhibitions and technology fairs, buyer-seller meets and support.??NSIC also undertakes export of industrial projects of MSME to other countries on turnkey basis.??NSIC provides a package of services for setting up on industrial projects to other countries.??NSIC tied up with commercial banks for Term Loans and Working Capital loans assistance etc.??NSIC also provides credit ratings through a scheme through empanelled agencies like CARE, CRISIL, Dun and Bad Street, FITCH, ICRA and others he informed.??NSIC provides subsidy of 75% on the fee charged by the agencies.

Welcoming the gathering, Soudhamini, President of COWE said that the objective of this conference was to help guide young entrepreneurs, MSME Units, aspiring and budding entrepreneurs about various schemes, subsidies offered by governmental bodies, banks and agencies.??This is an Umbrella Program and support clinic, she said organised to orient, guide and extend online support to MSMEs.??This was conducted in association with Apex Cluster Development Services and Sequa

In this Workshop-cum-support Clinic, we have planned to provide single point access to information about several industrial promotion schemes, subsidies etc including eligibility, types of benefits etc she informed

Entrepreneurship has been considered the backbone of the economic development. It has been well established that the level of economic growth of a region to a very large extent depends on the level of entrepreneurial activities, she said. And added that the myth that entrepreneurs are born, no more holds good. Rather it is well recognized now that the entrepreneurs can be created and nurtured through appropriate interventions like entrepreneurship development programs.

About 100 aspiring and budding entrepreneurs have participated in this unique seminar.

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