The shibboleth of India’s economic growth has the SMEs or Emerging Businesses at its core. Being the front runners and growth engine of the Indian economy, SMEs have been playing a critical role to make India a manufacturing hub.
After mobilizing the grand spirit of MSMEs across 12 cities and charting out ways to aid them in their entrepreneurial journey, IndiaMART brought the curtains down to its ongoing Emerging Business Forum 2015 with its Grand Finale. The 5th edition of IndiaMART Emerging Business Forum’s Grand Finale in Delhi was preceded by its tremendous success in several cities, including Ahmedabad, Kolkata, Hyderabad, Surat, Vadodara, Bangalore, Indore, Pune and Mumbai and more.
Themed Make in India: The Ground Reality, the concluding EBF session analyzed the country’s existing business environment, eco-political situation, manufacturing and exports, for SMEs to learn and take the next big leap. The event also analyzed the Government’s Make in India vision and its real impact on the ease of doing business.
Remarkably, this series of sessions charted out ways to inspire entrepreneurs and helped them in their journey by emphasizing on various important aspects that are instrumental in their growth such as upgrading technology, need for tax reforms, exploring global markets, empowering women through entrepreneurship, and government’s intervention in alleviating financial hurdles. It also established the fact that the small businesses are the backbone of the ‘Make in India’ initiative.
Upholding the SMEs interest, Dinesh Agarwal, CEO, IndiaMART quoted at the Finale, ‘Riding on the momentum, we believe that SMALL IS BEAUTIFUL. SMALL is the NEW BIG. Small is innovative, sharp, agile, flexible and is able to mold and deliver’. He also emphasized on power of the internet and said, “Internet is the most fertile medium and it is revolutionizing the SME ecosystem in the country. Over 20 lakh suppliers at IndiaMART conduct 20-80% of their business by leveraging the internet efficiently and the profit margin they earn is higher than those businesses that do not use the internet’.
The event also witnessed a special address by philanthropist and spiritual guru, Sadhguru Jaggi Vasudev, who spoke of SMES as the only engine that keeps running and buzzing in the country despite the various disruptions affecting the economy.
After the successful completion of advocating SMEs’ interests, across different cities in India, this show was an attempt to touch the ground reality of the big initiative ‘MAKE IN INDIA’ & to bring it to the next level. This sector that has the power to employ over 30 million persons, contributing 8% of GDP besides 45% to the total manufacturing output and 40% of the exports from the country, deserves all the rights for ‘Ease of Doing Business’.