Exploring new markets vital for SMEs’ growth: IndiaMART Emerging Business Forum

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Mumbai, November 25, 2016: The Mumbai Chapter of the 6th IndiaMART Emerging Business Forum 2016, held here on Nov 25, highlighted the possibility of growth of Indian SMEs in new markets by means of innovative technology and increasing visibility in online marketplaces. The event included talks on the imperatives of exploring new markets and how it is vital for growth of SMEs in India.

In addition, the Mumbai Chapter also highlighted some important factors like introduction of better trade policies, economic reforms, and effective implementation of the same to ensure better growth of small-scale units across the nation.

According to Parag Agarawal – Sr. Vice President, IndiaMART, “SMEs operate within a limited network and market. For entrepreneurs who are new in the market, gaining visibility has become a major challenge. However, technology and the advent of online marketplaces have equipped SMEs with easy and affordable access to new markets both nationally and globally. We have also witnessed that SMEs who have access to technology and ecommerce have a higher growth rate and profit margins.”

Moreover, the advent of E-commerce offers all SMEs with an opportunity to expand their business online, giving them access to new buyers, suppliers, and the latest in business technology. By gaining virtual presence, SMEs are now able to explore latest trends in the market, acquire more buyers & suppliers, and are finally making everyone realize their importance in the corporate landscape.

The Mumbai edition of IndiaMART’s on-going Emerging Business Forum ended on a promising note, with most participants coming to a mutual conclusion that technology upgradation and E-commerce play a key role in promoting the growth of SMEs in new market segments.

Other speakers included Ganesh Kumar Gupta, VP, FIEO; KV Srinivasan, CEO, Reliance Commercial Finance; Rajiv Chawla, Chairman, IamSMEofIndia.

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