To enlighten the students about MSME, its financing and opportunities relating to it, the Finance Forum, Department of Finance, ITM Business School, Kharghar, Navi Mumbai organized a guest lecture for the PGDM Finance students on 16th November 2022. It was a very informative and insightful session. Approximately 220 students participated in this session.
The speaker for the session was CA G B Modi, a practicing CA with more than 32 years of experience and an expert in MSME Financing. He has handled more than 6000 MSME projects all over India. And has also been conducting various webinars for ICAI on MSME financing.
The session started with an idea about what MSME is and how Micro, Small and Medium Enterprises are classified based on their investment and turnover, followed by some highlights on how MSME could provide opportunities for entrepreneurship.
He explained several schemes of the central government that opens entrepreneurial opportunities for SC/ST community and women like the Pradhan Mantri Jan Dhan Yojana, MUDRA, Standup India scheme and other schemes like CMEGP, SIDBI and TReDS. He explained the PMEGP scheme that finances up to 25 lakh rupees for Manufacturing units and 10 lakh rupees for Service units. He also stressed upon the fact that India is still not self-reliant in technical textile which has enormous growth opportunities.
He highlighted how Maharashtra contributes to the Make in India campaign with its state policies, schemes, and related infrastructure facilities, making the state ideal for MSME start-ups. He gave an overview of few of its industrial policies like Maharashtra Cloud Computing Policy, Maharashtra Fin Tech Policy and Maharashtra Textile Policy that could provide subsidy to the maximum of 100% of the cost.
He concluded his session by advising the students to invest their time on something of value apart from academics and encouraged them to utilize these MSME facilities to become job givers rather than job seekers.
The entire session was very insightful for all the participants. This was a great initiative taken by Finance Forum to enlighten the students about MSME financing polies, scheme, and the available opportunities.