New Delhi, 30 Jan (KNN) Vietnam has invited Micro, Small and Medium Enterprises (MSMEs) of Odisha for trade across various sectors with the country. 

Speaking at a seminar on “Credit and Marketing Linkage to MSMEs and Exporters”, Vietnamese Ambassador to India Pham Sanh Chau invited MSMEs of Odisha in sectors particularly, food processing, travel, tourism, pharma, health care, handloom and handicraft sector for trade with Vietnam.

He expressed his happiness that the quantum of trade between India and Vietnam has increased by 40% during 2018. 

Citing the analogy of MSMEs in Vietnam with that of Odisha, he suggested for adopting “Consumer Goods & Services in Odisha”.

The Odisha government has prioritized development of the MSME sector with a slew of policy initiatives and incentives, said MSME Minister Prafulla Samal.

Addressing the seminar, which was being held on the sidelines of Odisha MSME International Trade Fair-2019, Samal stated that MSMEs have a major contribution in the state’s economy.

Secretary of MSME Department LN Gupta informed that the MSME sector is a predominantly Micro Sector. 

As many as 99% of enterprises relate to Micro category. 

In this context, he suggested for conducting a fresh census of MSMEs by Government of India to ascertain the ground status of MSMEs.

Highlighting the present credit requirement of MSMEs in the country, which is estimated at Rs.45 lakh crore, he stated only Rs.25 lakh crore of credit demand in the country is being met currently, leaving a gap of Rs.20 lakh crore.

He added that about 473 Bank Branches have been designated as MSME specialized Branches across the state and requested the MSMEs to take advantage of them.

Chau also interacted with the members of different Industries Associations namely, UCCI, OSSIA, OYEA and OASME in a separate meeting in the afternoon to explore the potential of trade promotion in varied sectors.