New Delhi, Sep 18 (KNN) The Chamber of Industrial and Commercial Undertakings (CICU) has conducted an awareness programme at a city hotel to help Small and Medium enterprises (SMEs) overcome the recent economic slowdown by upgradation of their units.

The programme was presided by CICU president Upkar Singh Ahuja.

‘’The main objective of this programme is to help in the upgradation of SMEs of Ludhiana. Owners should always look for improvement and ensure that 20% of resources are used to develop new products, ’’ said CICU president.

Ahuja also suggested that SMEs need to cut cost and increase their sales in the present scenario. He also assured them to extend help, if needed.

‘’CICU will extend any kind of help required by the SMEs for their business expansion,” he assured.

Later, to boost and inspire businessmen, both the entrepreneurs Jatinder Singh and Manoj Singh shared their success stories.

The programme also saw the Rahul Priyadashi, General Manager of Small Industries Development Bank of India (SIDBI) sharing information about the new schemes of SIDBI for SME sector and also informed that under the speed scheme of the bank, loans are being provided for purchase of equipment for enterprise development and sanction for the same takes only one to two days.

He also informed businessmen to come forward with their loan requirement for which special rate will be provide to them.

While on the other hand, R K Parmar, assistant director from MSME Development Institute was also present in the event and informed the audience that central government has decided to continue the Credit Linked Capital Subsidy Scheme (CLCSS) in which MSMEs can take of the benefits of Rs 15 lakh subsidy for purchasing machinery worth Rs 1 crore.