Nagpur: Pantomath Investor Awareness and CSR foundation in collaboration with Government of Maharashtra, had organised Maharashtra State MSME Convention – Vidarbha Edition, in Nagpur, Maharashtra onn Thursday. The convention was held at Hotel Tuli Imperial, Nagpur. Yes Bank was banking partner and CNBC Awaaz was media partner for the Convention.
Minister for Industries and Mining Subhash Desai, graced the Convention and addressed MSMEs entrepreneurs. Dr. Harshadeep Kamble, I.A.S., Secretary (Small & Medium Industries) and Development Commissioner (Industries), Government of Maharashtra will threw light on new policy initiatives of Government of Maharashtra including policies for promoting women enterprise and other policy measures. The primary focus of the Convention was to broad-base capital markets initiatives for MSMEs, to promote industrial development and to encourage entrepreneurial participation towards “Make in Maharashtra” coupled with “Inclusive Growth”.
SME sector in India is growing at an exceptionally fast pace and has truly become the backbone of India’s GDP growth. The role of SMEs in employment creation, innovation, and encouraging an entrepreneurial spirit has been crucial in fostering competitiveness in the economy and boosting inclusive growth. SME sector is a strong vehicle for inclusive growth, creating local demand and consumption and is the fountain head of several innovations, especially in the manufacturing and service sectors. In order to facilitate SMEs and provide them the platform for growth capital, the Government and SEBI launched SME Exchanges.
Since inception, 322 companies got listed on SME exchange of which, Maharashtra ranks 2nd in terms number of companies listed and funds raised on SME exchange after Gujarat. Market capitalization of companies listed in Maharashtra is around Rs 7000 Crores.
A total of 92 companies are listed from Maharashtra on SME platforms which accounts for 28% of the total number of companies listed.
SMEs in Maharashtra represent diverse industry base such as Finance snd Investments, Trading, Construction, Engineering, Education, Transport and Logistics, Textiles, Chemicals, Healthcare, Hotels, Engineering, Pharmaceutical, media and entertainment, IT and IT-ES, services, etc. Finance and investment is the sector wherein maximum number of companies (14) are listed and Mumbai is the city that leads the table. Mumbai being the economic capital of the country justifies this in true sense. Infrastructure is an important sector for any fast paced developing State. Maximum amount of fund raising is seen from the construction sector accounting for Rs 111 Cr.
The agenda of Convention was-Discussion on new policy initiatives of Govt for MSME sector, Key preparations for easy banking, How to achieve sustainable valuation with proper governance structure, How to raise public funds: preparations, processes and key learnings, Experience sharing from MSME entrepreneurs who raised funds from public recently to give practical first-hand inputs
More than 300 industries from Nagpur, Amravati, Wardha, Akola and other parts of Vidarbha region participated in the convention. Participants had opportunity of networking with fellow business colleagues, as well as interaction with entrepreneurs listed on BSE SME and NSE Emerge. Pantomath felicitated industries associations of Vidarbha region for their business promotional initiatives and splendid growth.
