1st Session on Driving Forward the Growth and Prosperity of Micro & Small Enterprises 

Ludhiana, May 8, 2023: Chamber of Industrial & Commercial Undertakings (CICU) in association with the Punjab State Chapter of PHD Chamber of Commerce and Industry under its Accelerate MSME Series 2023 organised the 1st session on Driving Forward the Growth and Prosperity of Micro & Small Enterprises at CICU Complex, Ludhiana. The session aimed to equip participants with knowledge and skills that will help them identify opportunities and leverage them to grow their businesses.

Welcoming the speakers and participants Upkar Singh Ahuja, President, CICU stated that the session will encourage dialogue and collaboration among participants to foster a community of practice focused on driving innovation and growth in their respective organizations and industries.

While giving an overview of all types of Intellectual Property Rights Adv Pooja Nayar, IPR Attorney, Chandigarh & Regional Convener- Women Entrepreneur Committee, PHDCCI(PCH Region) opined that the MSME's must understand the significance of IPR and take steps to protect their intellectual property to ensure their growth and sustainability as it provides legal protection to their innovations and designs, helps in branding and marketing, and enables them to access finance and collaborations.

Mukul Bansal, Convener, Banking & Financial Service Sub-Committee, Punjab State Chapter & MD, Embee Financial Services Ltd during his address said that a combination of debt restructuring and sustainable financial practices can help MSMEs to manage their debt obligations and improve their long-term viability. He suggested MSME's to consider the use of alternative financing options, such as equity financing, crowdfunding, or government grants, to supplement their debt financing.

Kaushal Kishore Singh, DGM - SME, SBI while giving details of various schems offered by SBI for MSMEs said that SBI has been playing a significant role in supporting the growth of small and micro industries in Punjab since long. He further added that SBI is committed to supporting the growth and development of MSMEs in Punjab by providing them with a range of financial products and services that meet their diverse needs.

Dr. SB Singh, Joint Secretary, CICU and Regional Convener, MSME Sub-committee, PHDCCI discussed various schemes and incentives offered by the Ministry of MSME. He opined that initiatives and schemes offered by the Ministry have been instrumental in creating employment opportunities, promoting entrepreneurship, enhancing competitiveness, and facilitating access to credit for MSMEs.

The session was moderated by Ms. Bharti Sood, Resident Director, PHDCCI who also shared with the participants, the services offered by PHDCCI IP Facilitation Centres Amritsar and Chandigarh.

CA Vishal Garg, Co-Convener, Taxation Sub-Committee, Punjab State Chapter, PHDCCI while delivering the formal vote of thanks said sessions like these can be a valuable platform for MSEs to learn, network, and advocate for their interests.

The program was attended by over 90 industry members from Ludhiana.