FHRAI

INDIA

  • Home
  • Press Releases
  • FHRAI Hosts Webinar On The Ministry Of MSME’s Schemes For Hospitality Sector

News Details

FHRAI Hosts Webinar On The Ministry Of MSME’s Schemes For Hospitality Sector

10 th Dec 2020

New Delhi, Dec 10: The apex Association of hotels and restaurants in the country - Federation of Hotel & Restaurant Associations of India (FHRAI) in association with the Hotel and Restaurant Association of North India (HRANI) hosted a webinar on the various schemes offered by the Ministry of MSME for the benefit of the Hospitality sector. The Associations jointly appreciated the Ministry for the ECLGS which has lent much support to the Hospitality industry and also for extending the deadline for availing the scheme till 31st March, 2021. The webinar was held with the objective of sensitizing the Hospitality sector to the various benefits offered by the MSME Ministry. 

The webinar was participated by Shri Anand Sherkhane, Addl. Development Commissioner (ADC), Ministry of MSME; Dr. H P Kumar, Former CMD, NSIC & Advisor, PHDCCI; Shri Manoj Sharma, Assistant Director, Ministry of MSME, Mr Surendra Kumar Jaiswal, President, HRANI & Vice President, FHRAI; Mr Garish Oberoi, former President, FHRAI; and Maharaj Kumar Lakshyaraj Ji Mewar, EC, FHRAI and attended by the members from the hospitality fraternity.

“I am thankful that the dignitaries from the Ministry of MSME agreed to join us to sensitize the industry about various benefits offered by the MSME Ministry. As we know, the hospitality sector of our country is the biggest causality of the COVID19 outbreak. The hospitality industry of the country is at the cross roads today and facing an existential crisis as the foreign exchange earnings are nil, and the domestic earnings are also not even 10 per cent of our pre-COVID revenues. Hospitality sector is unlikely to achieve even 25 per cent of pre-COVID revenues till the time we come back to normalcy. Under such scenario, we look forward to the Ministry of MSME to provide a more facilitative environment for the hospitality sector under its ambit by considering the fact that the sector is one of the badly affected one due to the pandemic,” says Mr. Jaiswal.

Shri Manoj Sharma, Assistant Director, Ministry of MSME led the webinar by introducing the criterion for registering Hospitality establishments under the MSME Ministry’s definitions of Micro, Small and Medium enterprises. Titled as Udyam registration, he advised Hospitality players to visit www.udyamregistration.gov.in for registering establishments permanently at no cost.

“Over the last nine months the Government’s main focus has been to support the MSMEs to accelerate the revival of the sector. By means of additional financial and credit support for MSMEs comes under the priority sector. 40 per cent of the lendable finance from banks is earmarked for the priority sector in MSMEs. Since the Hospitality industry falls under MSMEs, it can take the benefits of loans from the banks. Also, for up to 2 Cr of lending there is a fund trust called as Micro and Small Enterprises Fund Trust under which the Government gives guarantee against the loans and the borrower does not have to give any collateral,” says Dr. H P Kumar.

Other benefits for the MSMEs that can be availed by the Hospitality sector are; the payments against good or services has to be made to a MSME supplier within 45 days beyond which the payment will attract interest, MSMEs that have become distressed or NPAs can avail loans from the Rs.20,000 Cr fund, and Fund of Fund scheme among other schemes. Besides these, there are roughly over 70 dedicated schemes for the MSME sector through which the Hospitality sector can benefit.

“There needs to be a cohesive voice of all the stakeholders in travel, tourism and hospitality to make compelling representations to the Government for making inclusions during the Union Budget. The Fund of Fund is an ambitious scheme of the Government to support the MSMEs where Rs.10000 Cr will be raised by the Government and the remaining Rs.40000 Cr, from the marketplace. It is perhaps the biggest venture capital funds that the Government of India has announced in recent times. The Cluster Development scheme is another such scheme which the tourism sector can benefit from. This scheme came into existence taking into consideration that Micro and Small enterprises may not have the wherewithal to create good infrastructure required to operate their businesses. In this, 15 to 20 players can come together to create a common infrastructure and enjoy the benefits,” concludes Shri Anand Sherkhane.

The FHRAI spokesperson thanked the Chief Guest Shri. Anand Sherkhane, Guest of Honor Dr. H P Kumar and Shri Manoj Sharma for providing important information on the various schemes and programs of the Ministry of MSME and their much valuable guidance.

CONTACT US

THE FEDERATION OF HOTEL & RESTAURANT
ASSOCIATIONS OF INDIA

Address:

B-82, 8th Floor, Himalaya House, 23,
K. G. Marg, New Delhi-110 001

Telephone: 011-40780780

For any queries, please write to us on or contact us on

E-mail: fhrai@fhrai.com