IndiaMART emphasizes on the key growth drivers for MSMEs at the Emerging Business Forum, Pune

Mega Pune Meet calls for a slew of initiatives in current MSME ecosystem
SMBs emphasize on key growth drivers at IndiaMART Emerging Business Forum

Pune, September 19, 2015:

Ease of doing business, streamlining and simplifying the processes and better adoption of technology were the key highlights of IndiaMART’s Emerging Business Forum.

IndiaMART, India’s largest online marketplace connecting buyers and suppliers organized a discussion forum for the MSMEs at Hotel Hyatt, Pune. The forum under the key theme, “The Growth Path for MSMEs” dwelled upon the opportunities and challenges facing the sector. The participating SMEs discussed the key aspects which will boost the sector’s growth. The necessary regulatory reforms that will ensure ease of doing business in India for the MSMEs were among the key issues taken up.

According to Dinesh Gulati, Director, IndiaMART, “The dynamics of business in India is undergoing a sea change currently and Pune has brought in significant contribution. In the Growth Path ahead critical regulatory changes are required to sustain and further boost this growth fuelled by the Startups. Also, the time is ripe to generously support and equip Indian MSMEs to establish their strong foothold in Domestic and International markets. IndiaMART’s Emerging Business Forum makes an effort to bring out ideas of reform and share practical solutions to operational and management issues with the SMB fraternity.”

The Panelists at the Forum examined important aspects such as addressing the challenges faced by the SMEs presently. Insights were given on the private sector’s role in skilling and mentoring the emerging businesses. It was realized that the Private sector involvement will resolve the concern on lack of skilled human capital. An important part of the Forum was the recent reforms with respect to ratings given to states on the basis of ease of doing business in those states.

Another key topic at the Forum was Public procurement policy, which makes sourcing mandatory from MSMEs by 20%. As per the panelists, the policy has had an impact on SMBs creating more opportunities for them. Credited was given to e-Commerce in offering small businesses opportunity for expansion of their target markets and reducing costs towards a focus on exports.

“Adequate efforts are required to simplify processes, rules and norms for small businesses. Mentoring on technology adoption and ensuring ease of doing business by removing the complexities involved in critical areas are the most critical aspects of the MSME Growth Path. The identified areas that require immediate attention of the government are setting up of compliances, infrastructural roadblocks, finance and taxation regulations.”, Gulati added.

The esteemed panel of speakers consisted Nitin Bankar, President – Pimpri Chinchwad Small Industries Association,Ajay Thakur – Head – BSE  SME, R K Sinha – SBI – DGM SME and Kirti Rathod – Chairman Western Region, ACMA.

The Pune chapter of the 5th edition of IndiaMART Emerging Business Forum was preceded by the success of the event in Faridabad, Ahmedabad, Mumbai, Kolkata, Jaipur, Hyderabad, Ludhiana, Surat, Vadodara, Bangalore and Indore. 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 grand finale would be conducted in Delhi in the month of October.

About IndiaMART
IndiaMART is India’s largest online marketplace, connecting buyers with suppliers. The company offers a platform and tools to over 14 million buyers to search from over 25.7 million products and get connected with over 1.8 million reliable and competitive suppliers. Founded in 1996, the company’s mission is ‘to make doing business, easy’. The company has over 3000 employees located across 55+ offices in the country. Its existing investors include Intel Capital and Bennett, Coleman & Co. Ltd.

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