New Delhi, Mar 16 (KNN) The newly constituted Central Executive Committee (CEC) of Federation of Indian Micro and Small & Medium Enterprises (FISME) on Wednesday re-elected incumbent President Prashant Patel for 2023-24.

During a meeting held in New Delhi in hybrid mode, the CEC members of the MSME body unanimously agreed on his name.

The tenure of FISME President is one year but by convention, incumbent President could be re-elected once.

Besides the three thematic focus areas of FISME under his leadership namely Banking & Finance; Industrial space and Public Procurement, he indicated addressing legal and regulatory hurdles in MSME growth in his second innings.

“The vision of most of the Acts is noble but the implementation process of regulation is in pathetic shape. Whether it is Arbitration after commercial disputes or delayed payment or regulatory compliances, the problem is in the process of delivering justice which has become lengthy, time consuming and expensive having substantive cost implications,” he noted.

Patel is a Gujarat based entrepreneurs who is Director of RK Synthesis Ltd Ahmedabad and Prashant Industries, Surat.

A chemical engineer by profession, he has been very active in Industrial associations in Gujarat.

He has been an office-bearer of Gujarat Chamber of Commerce & Industries, Gujarat Dyestuffs Manufacturers' Association, Narora Industries Association, Vatva Industries Association and Saykha Industries Association (Bharuch).  (KNN Bureau)