PHD Chamber of Commerce and Industries, conducted an interactive Webinar on “Scope Of MSME Post Covid-19”

No.PR-55 May 5, 2020 New Delhi PHD Chamber of Commerce and Industries, conducted an interactive Webinar on "Scope Of MSME Post Covid-19" The micro, small, and medium enterprises (MSMEs) which contribute a major part in the GDP growth of India, are perhaps one of the hardest hits due to the Covid-19 lockdown in India. To understand the challenges and way forward, PHD Chamber of Commerce and Industries, conducted an interactive Webinar on "Scope of MSME Post Covid-19" with Mr. Vishwa Mohan Jha, Director, MSME Development Institute, Patna, Mr. Somnath Sarangi, Associate Professor, IIT, Patna on 5th May 2020. The session witnessed a participation of more than 50 industry players and senior’ members of PHD Chamber all over the country. Mr. Somnath Sarangi, Associate Professor, IIT, Patna, appreciated the efforts of PHD Chamber of Commerce and Industry to organize such an interactive webinar on such a significant issue in these crucial times and gave a detailed presentation on Scope of MSME sector post COVID-19. Deliberating the participants on the overview of the issue Mr. Somnath Sarangi, discussed that COVID-19 is a global crisis. The most affected sectors are tourism, hospitality, aviation, etc. while the least affected one is the agriculture sector. Talking about different sectors, he explained that there is a downfall growth in financial, real estate, mining, construction, manufacturing and others but while there are growth prospects in agriculture. He further highlighted that this lockdown has given us the time to plan and strategize for ourselves to achieve growth and development for the future. There is a decrease in the import and export of products. But, due to the high usage of technology, it has given an opportunity to connect with the world while sitting remotely. Mr. Somnath Sarangi said that while, MSMEs of India has the challenges and downfall, but there is an opportunity to grow and has a scope to develop. The industry needs to see when and how to grow. Mr. Vishwa Mohan Jha, Director, MSME Development Institute, Patna, Mr. Somnath Sarangi, Associate Professor, IIT, Patna thanked PHD Chamber of Commerce and Industry for organizing such an informative webinar in such pivotal times. He explained that the government has taken many initiatives. He heard all the issues of the participants and noted them down. He assured that these issues will be taken up by the concerned ministries and in the concerned forums for solution at the earliest. Mr. Dev Prakash Goyal, Co- Chair MSMEs Committee, PHD Chamber, gave a warm welcome to Mr. Vishwa Mohan Jha, Director, MSME Development Institute, Patna, Mr. Somnath Sarangi, Associate Professor, IIT, Patna. He shared the issues and challenges faced by the industry while also suggesting relief measures and steps to ensure smooth working of the industry in the country. The webinar was moderated by Dr. Ranjeet Mehta, Principal Director, PHD Chamber and attended by Mr. Atul Prakash Anand, Chair, Skill Development Committee, PHD Chamber, many senior PHD members and industry stalwarts. Ends Media Division PHD Chamber of Commerce and Industry