Bokaro: A district-level one-day workshop was organised to mark ‘World MSME Day 2024’ at Guru Gobind Singh Educational Society’s Technical Campus, Engineering and Management College, Bokaro. The workshop’s theme, ‘Role of Nodal Agency and Bank,’ targeted educated unemployed youth and entrepreneurs in Bokaro.
Key attendees included the General Manager of District Industries Center, Development Officer of JIADA Bokaro, Rajendra Prasad, President of Laghu Udyog Bharati, S.K. Pandey, General Secretary of G.G.E.S S P Singh and others. College Director Dr. Priyadarshi Jaruhar was awarded commendation shield.
Emphasis on Government Schemes
Rajendra Prasad emphasised the support available under schemes like PMEG, Startup India, Standup India, and PMFME, which offer subsidies ranging from 20-35 percent. He stressed the importance of these schemes in fostering entrepreneurship and economic growth.
“MSMEs are the backbone of our country’s economy, contributing significantly to GDP and employment. The government’s policy emphasises that the growth of MSMEs directly impacts the nation’s economic progress. However, implementation challenges remain, particularly in providing necessary facilities and support to new entrepreneurs,” said S.K. Pandey.
Addressing Implementation Challenges
The current system needs strengthening in areas such as subsidy allocation, seed funding, and project development. New entrepreneurs often face difficulties due to a lack of adequate support. Pandey compared this to how a bright child needs good education and teachers to succeed.
Entrepreneurs require comprehensive support, including financial aid and guidance, to thrive and contribute to the economy by generating employment, paying taxes, and boosting industry. Approximately 100 students from B.Tech, MBA, Diploma, and ITI programs participated in the workshop.
Additionally, increasing awareness and accessibility of these schemes near engineering colleges and ITIs can help engage more educated youth and unemployed individuals in entrepreneurship,” Pandey added.
Encouraging Results and Future Efforts
The recent World MSME Day program highlighted the importance of reaching out to potential entrepreneurs and providing them with necessary support. In Bokaro, under the Prime Minister Employment Scheme, 101 industries have been sanctioned, along with 79 micro-beneficiaries under PMFME. Continuous efforts are being made to educate and assist entrepreneurs, ensuring they have the resources needed to succeed.
“The success of our MSMEs is vital for the nation’s economic health. By supporting entrepreneurs through improved schemes and better implementation, we can create more jobs and stimulate economic growth,” emphasised General Manager.
The workshop concluded with a call to action for better collaboration between nodal agencies, banks, and educational institutions to foster a more supportive environment for entrepreneurs. The goal is to create a robust framework that not only nurtures existing businesses but also encourages new ventures, thereby contributing to the overall development of the region, said Director Jaruhar.
