During the National Conclave on “Empowering MSMEs towards Aatmaniarbhar Bharat,” the Institute of Chartered Accountants of India (ICAI) launched MSME Mentorship Programme and 100 Facilitation Centres.
Growth in the Indian economy, employment generation capabilities, and Micro, Small, and Medium Enterprises (MSMEs) are the main pillars in the national economic structure. Reports suggest that the MSMEs account for around half of Indian’s total experts that’s why the sector works as a growth booster and the sector is also providing flexibility to overcome global economic adversities due to epidemics. MSME sector can also play an important role in the ‘Atmanirbhar Bharat’ initiative and in facing the economic challenges posed by the Coronavirus pandemic.
After observing the importance of the MSME sector in the national economy, the Institute of Chartered Accountants of India (ICAI) launched MSME Mentorship Programme & 100 Facilitation Centre especially for MSME/GST during the National Conclave on “Empowering MSMEs towards Aatmaniarbhar Bharat” with the aim to make them competitive at the global stage.
ICAI has a very strong network of 164 branches and 5 regional councils and a community of over 3 lakh members. The purpose of this launch is that ICAI wanted to reach out to MSMEs across the county to support them in terms of policy & guidance.
During the conclave, ICAI, as a partner in Nation Building, launched the following initiatives to assist MSMEs in accessing the benefits and schemes provided by the government.
- MSME Mentorship Programme: CAs practicing as SMPs can provide financial and strategic consulting to MSMEs and they can also help MSMEs to overcome financial challenges, increase resources, and be prudent in spending by becoming their mentor.
- GST and MSME Sahayata Kendra (Facilitation Centres) at 100+ locations: They will also guide MSMEs towards their business strategy, tax compliance, various government schemes, and resource mobilization, etc.
- MSME Business Continuity Checklist: The conclave also witnessed an engaging technical session with industry experts. Topics covered in the technical session included restarting MSMEs, all different types of government schemes for MSMEs, and alternative sources of funding for MSMEs.
Shri Om Birla, Hon’ble Speaker, Lok Sabha was the Chief Guest on the occasion said that “MSMEs is the important pillar of the Indian economy and accounts for manufacturing of more than 45% of the country’s products and 40% of export respectively. India has over 3.2 Cr. MSMEs which provide employment to 7 Cr. people.”
In addition, the institute has offered its global platform for Indian MSMEs with 37 chapters and 26 representative offices spread across 43 countries, which will help them to gain export market access through ICAI’s global presence. On the government side, the government is ready to provide support through the organization of exhibitions, B2B meetings, networking meets for MSMEs to gain exposure and grab all the available opportunities.