CII MSME FinFest 2024: Empowering MSMEs in Odisha with Better Access to Credit

The Confederation of Indian Industry (CII) hosted its first-ever MSME FinFest 2024 in Jharsuguda, with a central theme of “Empowering MSMEs: Access to Credit.” The event aimed to bridge the gap between micro, small, and medium enterprises (MSMEs) and financial institutions, facilitating easier access to credit and financial services for businesses in Odisha.

Pradipta Mohanty, Chairman of the CII Odisha State Council and Chairman of SNM Group, emphasized CII’s commitment to fostering a business-friendly environment in the state. “The MSME sector is the backbone of our economy, contributing significantly to GDP, industrial output, and exports,” Mohanty said. He highlighted the importance of the FinFest in creating connections between MSMEs and financial institutions to strengthen the overall business ecosystem in Odisha.

Anil Kumar Singh, Chairman of CII West Odisha Zonal Council and President & Wholetime Director of JSW BPSL, underscored Odisha’s immense growth potential in sectors like metals, agro-processing, textiles, chemicals, tourism, and emerging industries such as renewable energy, electric vehicles, IT, and electronics. Singh also pointed out the state’s strategic location, skilled workforce, and robust infrastructure as key drivers supporting the startup ecosystem, which benefits from advanced policies, seed funding, and mentorship.

Jharsuguda MLA Tankadhar Tripathy, the event’s chief guest, praised CII’s role in advancing Odisha’s development. He noted that the state’s economic future hinges on the success of small entrepreneurs and businesses, and called on CII to collaborate with large-scale industries to create a roadmap for boosting Odisha’s economy and aligning it with India’s broader growth trajectory.

The CII MSME FinFest 2024 served as a vital platform for MSMEs in Odisha to engage with financial institutions, enabling easier access to credit, fostering collaboration, and paving the way for stronger business growth across the state.

Disclaimer: This article is for informational purposes only and does not constitute financial or legal advice. Readers are encouraged to consult professional advisors for specific guidance on accessing credit and financial services for their businesses.