IndiaMART emphasises on the need for ‘Financing MSMEs’ in its Emerging Business Forum in Kolkata

APN News

Kolkata: The Micro, Small And Medium Enterprises (MSMEs) are the most crucial link between India’s economic growth and socio-economic transformation. Unfortunately, the lack of access to finance is being blamed as a major obstacle to this growth. Taking this discussion forward, India’s largest online marketplace connecting buyers with suppliers, IndiaMART hosted the IndiaMART Emerging Business Forum (in association with ZEE Business) in Kolkata on 29th May 2015 at Hotel Hindustan International (HHI), Kolkata. The forum converging around the key topic of ‘Financing MSMEs’ was in line with the Modi Government’s ‘Make in India’ campaign wherein easy finances can result in a robust foundation for the sector and enhance its capabilities. The Kolkata chapter of the 5th edition of IndiaMART Emerging Business Forum comes post the success of the event in Faridabad, Ahmedabad and Mumbai.

According to Mr Dinesh Gulati, Director, IndiaMART, “Our MSME sector is growing at an accelerated pace and has a proven track record to contribute towards the growth story of Indian Economics. In this scenario, banks are required to be more aggressive in India from being mere lenders to becoming business partners. Our MSMEs are unaware of different schemes benefiting them and I believe that by introducing technology and awareness on financing, they can reach out to the small units and create a much better environment for inclusion. We, through IndiaMART’s Emerging Business Forum in Kolkata are leaving no stone unturned to help these businesses understand how availability of sufficient funds could be a game changer for them in unleashing their true potential.”

A key discussion at the forum was Modi Government’s recent set up of MUDRA (Micro Units Development Refinance Agency) Bank to ease entrepreneurship among SC/STs and OBCs. The panelists present opined that Mudra’s launch would encourage the MSMEs unleash their true potential.

The event witnessed some of the most prominent leaders from the industry like Sh. Sajjan Bhajanka, Chairman – Century Ply, who delivered a special session on the theme today. The other industry leaders present were Dr Ram S Sangapure –   Executive Director – Punjab National Bank, Sri Arun Saraf -President – Merchant Chamber of Commerce, Sri Naval Gupta – General Manager- Indian Overseas Bank, Sri PK Choudhury – Chairman and Group CEO, ICRA. They shared their acumen on the significant contribution of Micro, Small and Medium Enterprises to India’s economy and industrial output.

Subsequent to the Kolkata event, the symposium would progress towards 11 more Tier 1 and Tier 2 cities including Jaipur, Hyderabad, Ludhiana, Surat, Vadodara, Bengaluru, Indore and Pune. It is deemed to unfold a series of profound discussions along with various influential industry experts on important topics related to the growth and development of SMEs in the country. The event witnessed participation from over 200 SMEs from across the industry. The grand finale would be conducted in Delhi in the month of October.