IOD Contact US Connect Us

Get In Touch With Us


A Report on 2024 - Regional MSME Conclave

A Report on 2024 - Regional MSME Conclave May 08, 2024

The Institute of Directors (IOD), Bengaluru, organised the 2024 MSME Regional Conclave on the theme 'Role of MSMEs in the Indian Economy in Promoting Inclusive Growth' on March 21, 2024 at Hotel Lalit Ashok, Bengaluru.

This conclave aimed to offer Micro, Small, and Medium Enterprises (MSMEs) a chance to receive first-hand insights on leveraging the burgeoning sector and fostering national development. Additionally, it sought to empower these enterprises by harnessing new technologies, shaping innovative business models, and enhancing customer service, thereby propelling their businesses forward.

The conclave was attended by over 100 business participants, comprising MSME industry leaders and members, representatives from banks, other financial institutions, and private and public sector institutions, to discuss, deliberate, and exchange ideas and subject matter expertise on policies, sector trends, and technology options available for manufacturing and production in the MSME sector. Throughout the event, renowned bankers, leaders from financial institutions, industry experts, MSME manufacturers, and representatives from Karnataka's industry chambers, entrepreneurs, and start-ups deliberated on the growth opportunities in the manufacturing ecosystem, including corporate governance, fundraising, and deployment for ensuring greater self-reliance within the MSME manufacturing sector.


The Inaugural Session began with the lighting of the auspicious lamp. Mr. P. S. Parameswaran requested the Chief Guests of the conclave, Mr. B. S. Iyer, Member AIMA & Retd. Chairman of 3M India Ltd., and Ms. Uma Reddy, Vice-President of the Federation of Karnataka Chambers of Commerce and Industry (FKCCI), along with Mr. R. G. Rajan, Zonal Director, Institute of Directors, to light the Lamp.

The 'Opening Remarks' were delivered by:

Mr. P. S. Parameswaran
Regional Director - Institute of Directors, Bengaluru

Mr. Parameswaran introduced the MSME Regional Conclave and welcomed all the dignitaries, participants, and attendees. He outlined the primary functions and activities undertaken by the Institute of Directors. He shed light on the theme of the conclave, 'Role of MSMEs in the Indian Economy in Promoting Inclusive Growth', and welcomed all the speakers, panelists, and industry partners taking part in the conclave.

This was followed by the 'Special Address' delivered by:

Mr. R. G. Rajan
Zonal Director - Institute of Directors, Bengaluru

Mr. Rajan spoke on the 'Role of MSMEs in the Indian Economy in Promoting Inclusive Growth'. He emphasized the indispensable role that MSMEs occupy in India's economic landscape, serving as the cornerstone of industrial progress and inclusive prosperity. These enterprises make substantial contributions to job creation, income augmentation, export enhancement, and the holistic advancement of the economy. Recognized for their agility, innovation, and potential for scalability, MSMEs are crucial drivers of economic progress and social welfare in India.

This was followed by the 'Presidents Address' delivered by:

Lt. Gen. Surinder Nath, PVSM, AVSM (Retd.)
President - Institute of Directors

Lt. Gen. Nath highlighted the importance of the Aerospace and Defence sector in India's journey to a Atmanirbhar Bharat. He said that the most dynamic and highly vibrant sector of Indian economy is emerging out of the MSME startups. He explained how the MSME sector is playing an important role in developing the self-reliant system. He also mentioned about IOD's MoU with the development commissioner, MSME in 2018 to provide various SME units professional competency through a portfolio of curated development initiatives. He added, 'As aerospace and defence sector is concentrated in this city of Bengaluru, IOD has organised this regional conclave on Aerospace & Defence Sector in India - Path to Atmanirbhar Bharat'.

This was followed by the 'Chief Guest Address' delivered by:

Mr. B. S. Iyer
Retired Chairman - 3M India Ltd.

Mr. Iyer emphasized the critical role of MSMEs as the future drivers of economic growth in India. Moreover, MSMEs prioritize Corporate Social Responsibility (CSR) initiatives, recognizing the importance of their employees in driving these efforts. By adhering to a written code of conduct, MSMEs demonstrate their commitment to ethical business practices, transparency, and accountability. These aspects collectively contribute to building a strong reputation and trust among stakeholders, including customers, investors, and communities. MSMEs that excel in these areas are well positioned to attract investments and contribute significantly to sustainable development and inclusive growth in the coming decade.

This was followed by the 'Special Address' delivered by:

(1.) Ms. Uma Reddy
Vice-President - Federation of Karnataka Chambers of Commerce & Industry (FKCCI)

(2.) Mr. Virjin Jawahar
Assistant General Manager - State Bank of India

Ms. Reddy highlighted the crucial role played by industry associations such as the Federation of Karnataka Chambers of Commerce and Industry (FKCCI) in shaping MSMEs by providing a platform for networking, advocacy, and knowledge sharing. These associations facilitate access to resources, market opportunities, and policy insights, enabling MSMEs to thrive and contribute effectively to the economy. Women's entrepreneurship was another vital aspect highlighted in the speech, emphasizing the growing role of women-owned businesses in driving innovation, diversity, and economic empowerment. Initiatives supporting women entrepreneurs, such as access to finance, mentorship programs, and skill development, contribute significantly to fostering a more inclusive and dynamic business ecosystem. Government policies such as ISO certification and barcoding standards play a pivotal role in enhancing the competitiveness and credibility of MSMEs. These policies ensure adherence to quality standards, product traceability, and market access, thereby boosting confidence among consumers, investors, and trading partners.

Mr. Jawahar talked about the outstanding work done by the State Bank of India (SBI), as a market leader in MSME financing, serving over 19 lakh MSME borrowers. The bank provides a range of financial tools specifically designed for MSMEs, offering support through schemes like Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) and sustainable financing options. CGTMSE is a critical tool that provides credit guarantees to banks for loans given to MSMEs, reducing the risk for lenders and encouraging them to extend credit to these enterprises. SBI's sustainable financing initiatives focus on supporting environmentally friendly and socially responsible projects within the MSME sector. Moreover, SBI continuously introduces new initiatives and programs to further enhance its support for MSMEs, such as tailored financial products, digital solutions, and capacity-building programs. These efforts underscore SBI's commitment to fostering the growth and sustainability of MSMEs, contributing significantly to economic development and job creation in India. The bank's schemes for MSMEs encompass a range of financial products such as loans, credit facilities, and support services tailored to the unique needs and challenges faced by these enterprises. SBI's initiatives focus on fostering entrepreneurship, promoting inclusive growth, and enhancing economic opportunities for diverse communities.


The 'Keynote Address' was delivered by:

(1.) Mr. Y. K. Basavaraju
General Manager - Karnataka State Financial Corporation (KSFC) Bengaluru

(2.) Mr. Manohar Iyer
Founder - Saptham Foods

Mr. Basavaraju spoke on the topic, 'Energising MSMEs growth & contribution towards the Indian economy'. He explained about the loans sanctioned by KSFC to support MSMEs. These schemes include specific initiatives to assist women entrepreneurs, entrepreneurs from backward communities, minority communities, and general schemes promoting and helping MSMEs.

Mr. Iyer spoke on the topic, 'Governance Perspectives - Quality Indicators and Best practices'.He focused on quality indicators and best practices essential for improving performance across various key areas. Quality metrics in MSMEs were discussed within seven key areas: Product, Process, People, Finance, Environment, Technology, and Question. By focusing on these quality indicators and best practices, MSMEs can enhance their overall governance, competitiveness, and sustainability, leading to long-term success and growth in the market.


The 'Keynote Address' was delivered by:

Mr. B. Ulagiyan
Deputy General Manager - SIDBI

Mr. Ulagiyan spoke on the topic, 'SIDBI's' Innovative Financing Solutions for MSMEs'. He highlighted SIDBI's innovative financing solutions, tailored for MSMEs, aimed at fostering their growth and development. He discussed a few solutions such as the Speed scheme for helping MSMEs enhance their production capabilities and efficiency, the Express scheme for ensuring rapid delivery of funds to MSMEs in need of quick financial support, the Arise scheme for enabling them to upgrade infrastructure, and technology, or expand operations, the Sthapan Scheme providing financing solutions tailored to their unique needs and challenges, the 4 E Financing Scheme encompassing Efficiency, Enhancement, Expansion, and Exports, and the Swift Scheme providing timely financial assistance to MSMEs. These innovative financing solutions reflect SIDBI's commitment to empowering MSMEs with accessible and customised financial support, enabling them to thrive, expand, and contribute significantly to economic growth and development.


The 'Keynote Address' was delivered by:

(1.) Mr. M. Kumaraswamy
Chief Manager - Hindustan Aeronautics Limited (HAL)

(2.) Mr. Chandrashekar Dikshit D S
Program Manager - A3 logics

(3.) Mr. H. M. Arif
President - Peenya Industries Association

Mr. Kumaraswamy spoke on the topic, 'Role of MSMEs in achieving self-reliance: HAL initiatives'. He focused on the role of MSMEs in India's journey to achieving self-reliance, with a specific emphasis on the initiatives taken by HAL. HAL's initiatives exemplify how MSMEs can contribute to self-reliance by fostering indigenous capabilities and reducing dependency on imports. He mentioned a few of the initiatives, such as Indigenous Manufacturing, Technology Transfer, and Supplier Development Programs. By leveraging these initiatives, HAL and MSMEs collectively contribute to India's journey towards selfreliance by fostering local manufacturing, technology innovation, skill development, and strategic partnerships within the aerospace and defense sectors.

Mr. Dikshit spoke on the topic, 'Importance of technology adoption for MSMEs'. The session emphasized that technology adoption is key for MSMEs to streamline operations, improve quality, reach new markets, and stay competitive amidst rapid technological advancements in various industries.

Mr. Arif spoke on the topic, 'Significance of MSMEs to the Indian Economy'. The session highlighted the significant role of MSMEs in driving India's economic growth and development. He spoke about key points such as job creation, reducing inequality, improving infrastructure, and promoting innovation. He said that MSMEs drive innovation by developing new products, services, and business models, fostering a culture of creativity and entrepreneurship that contributes to economic growth and competitiveness. In conclusion, he said that MSMEs are essential drivers of inclusive and sustainable growth.

This was followed by the 'Vote of Thanks' proposed by Mr. P. S. Parameswaran. On behalf of the Institute of Directors, Bengaluru, he expressed gratitude to all sponsors – Canara Bank, SIDBI and Karnataka Soaps and Detergents Limited – who extended their support for the success of the MSME conclave. He also extended his appreciation to each of the speakers, and participants for sparing their valuable time. He also thanked the hotel authorities for the excellent arrangements.

Institute of Directors - Bengaluru Region is especially grateful to its Event Partners.

Our Gold Partner:
1. Canara Bank

Our Supporting Partners:
2. Karnataka Soaps and Detergents Limited

The report is compiled by: Bengaluru Regional Team Institute of Directors


Institute of Directors India

Institute of Directors India

Bringing a Silent Revolution through the Boardroom

Institute of Directors (IOD) is an apex national association of Corporate Directors under the India's 'Societies Registration Act XXI of 1860'​. Currently it is associated with over 30,000 senior executives from Govt, PSU and Private organizations of India and abroad.

Owned by: Institute of Directors, India

Disclaimer: The opinions expressed in the articles/ stories are the personal opinions of the author. IOD/ Editor is not responsible for the accuracy, completeness, suitability, or validity of any information in those articles. The information, facts or opinions expressed in the articles/ speeches do not reflect the views of IOD/ Editor and IOD/ Editor does not assume any responsibility or liability for the same.

About Publisher

  • IOD Blogs

    Institute of Directors India

    Bringing a Silent Revolution through the Boardroom

    Institute of Directors (IOD) is an apex national association of Corporate Directors under the India's 'Societies Registration Act XXI of 1860'​. Currently it is associated with over 30,000 senior executives from Govt, PSU and Private organizations of India and abroad.

    View All Blogs

Masterclass for Directors