FICCI launches MSME arm to boost small scale industries

The Federation of Indian Chambers of Commerce and Industry (FICCI) today launched an umbrella organization called FICCI-Confederation of Micro, Small & Medium Enterprises (CMSME) to boost the MSME sector.

The focus areas of FICCI-CMSME include policy consultations with government, legal and taxation, finance, marketing and quality standards, procurement, environment, technology and innovation, and start-up and entrepreneurship, thereby accelerating and diversifying MSMEs.

Launching FICCI-CMSME, Amarendra Sinha, Additional Secretary & Development Commissioner (MSME) suggested that schemes can be initiated to incentivize the growth of MSMEs and an ecosystem needs to be created, which celebrates the success of an MSME instead of expressing doubts about its achievements.

FICCI president Naina Lal Kidwai said that CMSME’s mission is to develop MSME capabilities to meet the challenge of establishing themselves in the global value chain and to accelerate the information communication and technology culture so that they become equipped with faster technology and gain a competitive edge in world markets.

FICCI-CMSME members can access the services of Credit Facilitation Centre at FICCI where in SIDBI’s knowledge partner would be providing free credit advisory and ensuring faster availability of credit and finance at low cost. The body will also assist member MSMEs for improved quality and standards through expert training programmes and provide intellectual property(IP) services at affordable rates

Members will be able to buy raw materials, to start with few products at competitive price points and also give them the option to choose from a list of quality suppliers, through an online technology. All CMSME members will be facilitated with tech support services worth Rs. 20,000 free across a wide range of computing and communication devices and software through iYogi.

FICCI in a statement said that the survival of small and medium entrepreneurs considerably depends on adoption of sound advertising techniques other than marketing. To start with, member MSMEs will get an approximately 7% cash back on their monthly ad-spend in digital space like Google or Facebook through CMSME Sokrati.