MSMEs’s Role Highlighted

Webinar on “Enhancing Cooperation for MSMEs in Nepal”

KATHMANDU: Experts have highlighted the significance of Micro, Small and Medium Enterprises (MSMEs) to minimize the impact of Covid-19. Speaking at a webinar entitled ‘Enhancing Cooperation for MSMEs in Nepal’ on 31 August, they said economic cooperation between Nepal and India is important to boost the MSMEs and improve economy in both the neighbors. The one-day webinar was organized by India-Nepal Centre of the PHD Chamber of Commerce and Industry (PHDCCI) in association with Confederation of Nepalese Industries (CNI) and Nepal SBI Bank Ltd (NSBL).

They said the performance of MSMEs sector is going to be a decisive factor for the economic rebounding in both the countries.

Speaking as a key-note speaker on the occasion Mr. Maha Prasad Adhikari, Governor of Nepal Rastra Bank (NRB) described the MSMEs sector as an engine of Nepal’s economic growth. He also highlighted on the recent policy measures, taken by the government of Nepal to promote MSMEs. He said Nepal’s MSMEs are going to emerge stronger with positive initiatives, taken by the government on the sector.

Mr. Sushil Bhatta, CEO of Office of the Investment Board Nepal (OIBN) shed light on the challenges facing MSMEs with the demand and supply shocks due to the Covid pandemic. He shed light on the importance of MSME for Nepal’s economy and employment generation. Mr. Bhatta also stressed the need for creating awareness about MSMEs and connecting them with mega investment projects. He said the MSMEs require skill enhancement, entrepreneurial advancement, innovation practices and application of new technology to make them more competitive in the regional and global sphere.

He also stated that IBN has been working hard in developing robust system for garnering investments in Nepal.

Mr. Kapidhwaja Pratap Singh, Commercial Representative of Indian Embassy in Nepal said an integrated networking and supply chain management between India and Nepal is required to reap the trade benefits. He said the trade between India and Nepal has reached to around 85% peak of pre-Covid times both in terms of exports and imports.

Giving a presentation, Anukool Bhatnagar, MD & CEO of NSBL discussed the financer’s perspectives on the MSME’s in Nepal. Mr. Bhatnagar highlighted on key pressing policy issues that are impacting the way banks are landing to MSMEs. He appreciated the regulatory measures of NRB and stated that they are particularly sensitive to the concerns of MSMEs.
Similarly, Dr. D K Aggarwal, President of PHDCCI said Nepal and India share a very unique and deep relationship.

Mr. Sanjay Aggarwal, senior vice president of PHDCCI said that it is high time that the MSMEs be given their space as the Covid-19 has made a firm ground for strengthening bilateral relations between India and Nepal.

The webinar was moderated jointly by Mr. K V Rajan, Chairman, India-Nepal Centre, PHDCCI & India’s Former Ambassador to Nepal and Mr. Nirvana Chaudhary, Chairman, India-Nepal Centre (Nepal), Vice President of CNI and MD, Chaudhary Group.

Mr. Saurabh Sanyal, Secretary General of PHDCCI, Mr. Atul K Thakur, Nodal Coordinator of India-Nepal Centre, PHDCCI, Mr. Madhav Lal, Former Secretary, Ministry of MSME, of Government of India, Mr. Ashutosh Bharadwaj, MD of Noveau Manufacturing Pvt Ltd and Mr. Praveena Kala, Director, Paramount Cables Pvt Ltd and Former CGM-SBI were among the participants at the webinar.