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Calls for technology adoption, innovation, efficient manufacturing and business friendly policies to boost the MSME ecosystem
Mumbai, November 6, 2015:
IndiaMART, India’s largest online marketplace connecting buyers and suppliers concluded the Mumbai chapter of IndiaMART Emerging Business Forum, (in association with ZEE Business) at Hotel JW Marriott, Juhu, Mumbai. As the acclaimed forum comes closer to the finale, it laid emphasis on the theme ‘Motivating MSMEs’ and focused on the factors that could motivate the small businesses to scale up the growth ladder and accelerate India’s business climate by making it an investment-friendly destination.
The discussion covered important aspects such as the limitations faced by MSMEs under the unorganized sector to attract funding opportunities from commercial banks, need for the implementation of lean manufacturing to lower overhead costs, deployment of technology to build competitiveness in the business environment and immediate implementation of GST to streamline business growth for MSMEs.
The forum also touched upon topics on how to live up to the Modi government’s target of moving India to the top 50 countries in the World Bank’s ease of doing business rankings, within the next three years.
According to Dinesh Gulati, Director, IndiaMART, “The SME sector has the utmost potential to disrupt the business ecosystem existing in the country. This is clear as per the annual report by Ministry of Micro, Small & Medium Enterprises, according to which the number of MSMEs in the country has increased by about 20%, and so has the employment generated by them by 21%, over the last year. Going forward, we are definitely anticipating a business friendly environment and the crucial factors such as infrastructure, technology adoption, avant-garde manufacturing practices are yet to be exploited. Through IndiaMART’s Emerging Business Forum in Mumbai, we aim to reach out to the maximum number of SMEs in the city and assure them of the better times to come.”
Prakash Kandpal (GM, SBI), Ajay Thakur (Head BSE SME), Rakesh Kumar (ED, EPCH) were the panelists present at the forum who brought in their insights based on their vast industry experience. The evening was made special by Kalraj Mishra, Minister MSME who joined the forum online. He lauded IndiaMART’s initiative for the emancipation of MSMEs.
As the Emerging Business Forum comes to its penultimate event, there was a special session with Eminent Motivational Speaker, Shiv Khera. During his speech, he instilled in the SME fraternity the vision to look beyond the horizon thus accepting newer innovations and building a mindset for technology. The symposium will now progress towards its Finale in New Delhi which will take place on 21st November.
The Mumbai episode 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, Indore and Pune.
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.
IndiaMART
Rashi Tarika
Mobile: +91 9818830468
E-mail: rashi.tarika@indiamart.com