Empowering MSMEs: Access to Credit 1000Hrs | 27 September 2024 | Hotel Mayfair Oasis Resort | Jharsuguda

Jharsuguda, Odisha, September 27 th , 2024: Confederation of Indian Industry (CII) organised its
Maiden Edition of CII MSME FinFest 2024 at Jharsuguda. The First Edition CII MSME FinFest 2024
focused on the overarching theme of ‘Empowering MSMEs: Access to Credit”, a credit linkage
program for MSMEs aimed to bridge the gap between MSMEs and financial institutions, ensuring
easier access to credit and financial services.
Speaking on the occasion, Dr Pradipta Mohanty, Chairman, CII Odisha State Council and
Chairman, SNM Group said, " CII have been working towards creating and sustaining an
environment which is conducive to the growth of industry in the state, partnering industry and
government alike through advisory and consultative processes. The MSME sector is the backbone of
our economy, contributing significantly to GDP growth, industrial output, and exports. The CII MSME
FinFest created a platform for the MSMEs to connect with the Banks and financial institution, with a
special focus on strengthening and building the MSMEs ecosystem in the State.”
Sharing his views, Mr Anil Kumar Singh, Chairman, CII West Odisha Zonal Council, and
President & Wholetime Director, JSW BPSL said, “Odisha has immense potential for growth in
sectors like metals, agro-processing, textiles, chemicals, tourism, and emerging industries such as
renewable energy, electric vehicles, IT, and electronics. Its strategic location, skilled workforce, and
robust infrastructure support a thriving startup ecosystem with advanced policies, seed funding,
mentorship, and more. He highlighted although the industry has demonstrated remarkable promise,
there are several obstacles in the way of its continued expansion. MSMEs pay a hefty price for loans
that don't arrive on time. Inadequate data on credit requirements is combined with insufficient capital
infusion. In order to tackle these problems, a number of national and local government initiatives have
been launched, backed by financial institutions, banks, and government agencies to provide capital to
this industry. CII MSME FinFest 2024 will provide a platform to discuss the issues with banks and
financial institutions.”
Shri Tankadhar Tripathy, Hon’ble Member of Legislative Assembly, Jharsuguda Constituency
the Chief Guest highlighted the significance of the CII in the development of the State. The economic
growth of Odisha will rely on the success of small entrepreneurs and businesses. Therefore, he
appealed to CII to provide valuable input from the large scale industries to create a roadmap that will
contribute to Odisha's economy, aligning it with India's overall growth. He added supporting small
industries will undoubtedly attract help from the Odisha government, which is committed to this cause.
The inaugural session was graced by Shri Tankadhar Tripathy, Hon’ble Member of Legislative
Assembly, Jharsuguda Constituency, Dr Pradipta Mohanty, Chairman, CII Odisha State Council and
Chairman, SNM Group, Mr Anil Kumar Singh, Chairman, CII West Odisha Zonal Council and
President & Wholetime Director, JSW BPSL Ltd, Mr Nitin Manek, Member, CII Odisha State Council
and Mr Swayam Prakash Baral, Co Chairman, CII Eastern Region Startup Taskforce.
In addition to above an exclusive General Managers’ session was organized Mr Rakesh Kumar,
General Manager, Punjab National Bank, Mr Jagdish Chander, General Manager, Canara Bank, Mr
Pardyumna Chowdhury, Deputy General Manager, SIDBI and Mr Sanjay Jha, Deputy General
Manager, State Bank of India deliberated on the schemes for MSMEs.
The one-day MSME conclave saw a conglomeration of industry leaders, banks, experts and MSME
partners across the State connected to focus on exploring future business avenues and strengthening
the MSMEs ecosystem in the State. The session featured insightful presentations on expanding
MSME business opportunities and included engaging B2B sessions with Banks like State Bank of
India, Punjab National Bank, SIDBI, Canara Bank, HDFC Bank, Axis Bank and ICICI Bank.