With mere 437 MSMEs listed on the stock market, country’s economic lifeline need Freedom to operate and a new kind of Economic Patriotism

PRESS RELEASE

For Immediate Release
25th March 2019

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With mere 437 MSMEs listed on the stock market, country’s economic lifeline need Freedom to operate and a new kind of Economic Patriotism

~Lack of adequate capital is a big Challenge for MSMEs; Even the 59-minute loan is only available to GST registered firms, concurs industry experts at 57th SKOCH Summit~

 

Indian Economy thrives largely on its MSMEs and despite them being the lifeline of millions of Indians, India’s policy environment has never been conducive to their growth. One of the biggest debate of the time is the job crunch that India is facing today. The irony is that millions of SMEs and MSMEs are striving for the right talent so where are these job seekers? In an attempt to discuss the imperative role of MSMEs in Economic Patriotism and the right perspective on practicing patriotism from various practical angles, SKOCH Group, India’s topmost think-tank for socio-economic issues today organized India’s first summit on Practising Patriotism at 57th SKOCH Summit.

Speaking on the need for Economic Patriotism, Sameer Kochhar, Chairman of SKOCH Group and an eminent reforms historian, said “Only 437 MSMEs are listed on the stock market out of lakhs of enterprises in the country and need Freedom to operate. Swadeshi movement of the freedom struggle era is what we call as Make in India today. State policies have failed to support MSMEs at large. It’s the right time for us to realise that MSMEs being the backbone of country’s growth can take a leading role in Economic Patriotism.”

Dilip Chenoy, Secretary General, FICCI said, “The government actually has an apprenticeship programme where the government funds skilling. MSMEs are facing numerous challenges in India. Lack of adequate capital is one of the biggest Challenge. Even the 59 minute loan is only available to GST registered firms.”

Addressing Corporate Patriotism, M Damodaran, Former Chairman SEBI, said “CSR is an affair of the heart, not an entry in the accounting books. We should look at what the corporates can and should do to further the cause of patriotism in the country.”

Eminent dignitaries, government representatives and economists including Dilip Chenoy, Secretary General, FICCI, Akhilesh Tuteja, Global Co-Leader-Cyber Security KPMG , Anil Bhradwaj, Secretary General, FISME, Rohan Kochhar, Director, Public Policy, SKOCH Group, Shefali Dash, Former Director General ,National Informatics Centre, Saurabh Chandra, Chairman, Multi Commodity Exchange of India Ltd., Dr. Priyanka Mokshmar, Chairman & MD Vaayu India, Gokul Kumar Simli, Principal Consultant & CTO, Passport Seva, Ministry of External Affairs, Dr. Gursharan Dhanjal, MD & Editor, SKOCH Group, Shivkumar Pandey, CISO, BSE Ltd, Gulshan Rai, National Cyber Security Coordinator participated at the event.

NOTES TO THE EDITOR

About SKOCH Group

SKOCH Group is India’s topmost think-tank for socio-economic issues with a focus on inclusive growth since 1997. Its research is accepted across political spectrum and is used for parliamentary replies as well as policy formulation. SKOCH Group specializes in action research that brings felt-need of the grassroots to the policy table. It has published seven books thus far that are valued as recommended reading. The repertoire of services includes field interventions, consultancy, research reports, impact assessments, policy briefs, books, journals, workshops and conferences. SKOCH Group has instituted India’s highest independent civilian honours in the field of governance, finance, technology, economics and social sector.