Bhubaneswar: The School of Management, KIIT University organized the 5th National Management Convention on the theme “Micro, Small and Medium Enterprises: The Way Forward” today.
Addressing at the inaugural function, Prof. B.B. Bhattacharya, Chief Guest of the Convention, spoke of KIIT as a remarkable example of how education is being promoted through dedication. He emphasized the inequality of
income in India which can be reduced through the expansion of the Micro, Small and Medium Enterprises (MSMEs). He expressed his concern about the fact that the knowledge created by Business schools are not used locally, but are rather drained into MNCs.
Mr. Praveen Gupta, the keynote speaker of the convention, spoke about the unique features of MSME which includes generation of employment for the unskilled workforce, use of local resources and innovative means for reducing costs. He outlined the key issues facing the sector, which includes lack of capital, knowledge of the market, issues in getting land or governmental clearances. He said even though financial institutions are willing to lend to the SME sector, equity contribution from the entrepreneur is still a major issue. He also pointed out the fact that many
promoters aren’t aware of the collateral-free loans offered by the banks today.
In his address, Prof. Ashok Kolaskar stressed on the fact that most of the employment today is through micro, small and medium enterprises. He gave examples of how corporate have elsewhere supported and nurtured fledgling
entrepreneurs and turned them big, something which can emulated and replicated in a state like Odisha as well.
Introducing the convention to the audience, Prof. Sar highlighted how the MSMEs are contributing profoundly to the economic development of the country. The profitability of MSMEs depends on the efficiency, quality of the products and services, and the deployment of updated technologies in the value chain, he added.
The Convention spans two days with a total of four tracks that would cover four subthemes under the main theme, namely Challenges of MSME Sector and their Implications, Ways to Improve the Overall Health of MSME Sector, Government Policy & Technological Support for Sector Efficiency and Skilled Manpower & Allied Issues in MSME. Each of these tracks would be chaired by an eminent guest from the industry and would have research paper or case study presentations by the delegates.
Among others Mr. Praveen Gupta, Chief General Manager, SBI and Prof. B. B. Bhattacharya, Former Vice Chancellor, JNU and Distinguished Professor, IIM Lucknow. Prof. Ashok Kolaskar, Vice Chancellor, KIIT University and Prof. Ashok Kumar Sar,
Dean, School of Management were also present. The delegates included professionals from manufacturing and service sectors, academicians, research scholars and consultants from across the country.