Indian Chamber of Commerce (ICC) on Monday organized a webinar on “Covid-19 Effect on MSME & its Revival’ Strategy.”
The webinar was represented by panelists from Government of India and industry players from Northeast India.
The webinar was moderated by Ishantor Sobhandit, Regional Director, Indian Chamber of Commerce (Northeast Initiative).
Shiv Kumar Yadav, DGM of RBI, Avinash Choudhary of NSIC Ltd, Sriram Meena of SIDBI, Asish Deorah of Laghu Udyog Bharati, Tali Longchar of MSME-Development Institute-Nagaland and Manipur, M Sreenivasulu, Director of MSME Development Institute and Toko Tatung from Arunachal Chamber of Commerce & Industry attended the webinar.
The webinar tried its best to identify the road map towards industrial growth by addressing current challenges with appropriate solutions with the help of government and regulatory bodies.
Shiv Kumar Yadav of Reserve Bank of India, Guwahati said India registered highest growth rate among the G20 economies. During the nationwide lockdown, the RBI had taken a number of steps to ensure normal business of the banking sector, he said.
As a result, the payment infrastructure is running seamlessly, Yadav said, adding that banks have also risen to the occasion by refilling ATMs regularly, despite logistical challenges.
On May 2, 2020, the RBI Governor held a meeting with the MD/CEOs of major public and private sector banks through Video Conference. During the Meeting, among other matters, Post Lockdown credit flows including provision of working capital, with special focus on credit flows to MSMEs were discussed.
RBI has removed charges for payments via NEFT and RTGS and asked banks to pass on the benefits to customers.
Avinash Choudhary, Zonal General Manager of National Small Industries Corporation (NSIC) highlighted about the steps taken by NSIC to combat the challenges of COVID19 in northeast and action initiated for MSMEs.
Choudhary said NSIC is planning to start online training by sharing video tutorials for the MSMEs.
Tali Longchar, Deputy Director of MSME-Development Institute-Nagaland and Manipur highlighted about the various prospects in bamboo and food processing industries.
M Sreenivasulu, Director of MSME Development Institute-Guwahati said after the lockdown is lifted, immediate steps should be initiated with the state and the central governments for revival of the MSMEs.