Welcome to Indian Industries Association, the apex body of SMEs.

President Speaks

President Speak - December 2008

MSME ISSUES HIGH ON GOVT AGENDA

With global economic meltdown/crisis seeping all our energies, we are into another challenging situation which has to be dealt swiftly and effectively. We cannot afford to loose our sigh of developmental thinking in the present time and should adopt sustained approach towards surviving in the midst of the chaos.

IIA has surely adopted this stance trying its best to remain in touch with the members, seeking out their views and suggestions on the scenario, holding discussions in its Central Executive Committee meeting and making representations to different departments as deemed fit.

One highlight of the month has been my meeting with the Hon. Prime Minister along with the representatives of other industrial associations from across the country on Dec 8th. Details are available on the following pages and I think it can safely be labeled a success now as the news of a new growth stimulus package for MSMEs has just started pouring in.

The previous stimulus package announced earlier this month has left much to be desired which I hope shall be covered in the forthcoming one.

Another good news in the gloom has been the announcement of simplification of service tax refunds rules for the exporters. Now exporters instead of waiting for months on end can get their refunds within a month as per the recent announcement by the Central Board of Excise and Customs (CBEC).

This issue contains the detailed news on both the stimulus packages as well as the new service tax refund rules of CBEC.

I feel that both government and banks are slowly but surely waking up to the situation, looking at the rapid in flow of various incentive schemes and packages especially for the MSMEs. Though how soon and more important how fairly these are implemented remains to be seen.

IIA is a member of the sub committee of State level bankers Committee for export promotion and regularly participates in its meetings. In the last meeting held on 25 Nov 2008, IIA was represented by Shri Anil Gupta, Sr.Vice President and Shri D.S. Verma, Executive Director. Highlights of the meeting are included in this newsletter.

While on the subject, I would like to mention that we have also taken up the issue of effectiveness of the SLBC meetings in our representation to the PM. If the matter is considered seriously at his end, it would bring drastic improvement in the conduct of the meetings and results thereof.

Labour file acquaints you with latest developments and schemes in the sector relevant to the MSMEs in particular, while the section on project profiles gives a fair idea on the feasible projects in the present times.

We welcome your feedback, comments, suggestions on any topic of relevance !