MSMEs in state got Rs 7,800 cr advance in FY15

Banks having operations in the state have advanced Rs 7,836 crore to the micro, small and medium enterprises (MSMEs) in the last financial year, said an official of state level bankers' committee (SLBC).

"The cumulative credit to the MSME sector roughly stood at Rs 21,455 crore in the state and this is about 22 per cent of the overall credit flow to all sectors," said B P Samantaray, Convener, SLBC, at a round table on "Simplifying Entrepreneurship through Shared Actions", organised by the Federation of Indian Chambers of Commerce and Industry (FICCI)-state council in association with Amway India.

Out of the total credit, micro units are assisted with Rs 9,559 crore, small enterprises are financed to the tune of Rs 8,188 crore and the balance has gone to the medium enterprises.

For providing hassle-free services to the entrepreneurs, the state MSME department will soon provide capital investment subsidy, interest subsidy and VAT reimbursement through online.

John Khiangte, senior policy analyst, Amway India, presented the Amway-Indicus Analytics' India Entrepreneurship Report 2014 at the round table and highlighted the key features of the report.

As per the report, the entrepreneurial attitude is relatively high in the state and ranks 11 among the 20 surveyed states. Vivek Patnaik , chairman, MSME panel of Ficci Odisha, also spoke on the occasion.