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Tag: SMEStreet Foundation

  • SMEStreet Celebrates International MSME Day By Launching ‘Future Ready MSMEs’ Campaign 2024

    SMEStreet Celebrates International MSME Day By Launching ‘Future Ready MSMEs’ Campaign 2024

    SMEStreet’s ‘Future Ready MSMEs’ campaign launched with a dynamic webinar on boosting export contributions and overcoming global challenges. The webinar highlighted the “Role of MSMEs in Developed India (Viksit Bharat). Industry experts shared actionable insights and strategies to empower Indian MSMEs.

    SMEStreet marked International MSME Day with the successful launch of its nationwide campaign titled “Future Ready MSMEs”. The campaign commenced with an impactful webinar focusing on the “Role of MSMEs in Developed India (Viksit Bharat)” on June 27th, 2024. The event witnessed active participation from MSME stakeholders across the country, making it a significant milestone in the journey towards empowering Indian MSMEs for global competitiveness. The Webinar is getting showcased among MSME owners on SMEStreet.in and on all its Social Media Channels. Full Webinar Recording


    Webinar Highlights

    The webinar brought together a distinguished panel of experts who shared their insights on enhancing the export contributions of Indian MSMEs and overcoming the challenges they face in international trade.

    Panelists:

    – Mr. Anil Khaitan: Chairman of Sunil Healthcare
    – Mr. Chandrakant Salunkhe: Founder and President of SME Chamber of India
    – CA Deepak Maheshwari: Co-Founder of DealPlexus.com & Co-Founder Jindagi Live Group
    – Dr. Abdulhasan Al-Dairi: Chairperson of Bahrain SME Society and Chairman of UNISMO
    – Mr. Faiz Askari: Founder of SMEStreet and Moderator of the Webinar.

    Participant Engagement

    The webinar saw enthusiastic participation from MSMEs, industry professionals, and policymakers. The interactive Q&A session allowed participants to engage directly with the panelists, gaining valuable insights and practical advice.

    Important Quotes from the Panelists

    – Mr. Anil Khaitan: “MSMEs play a crucial role in India’s healthcare exports. By focusing on innovation and quality, we can significantly boost our global presence. Certain schemes and programs by Government agencies are making a significant impact. But a lot has to be done in order to ensure positive MSME growth through boosting exports.”

    – Mr. Chandrakant Salunkhe: “We must empower Indian MSMEs to be globally competitive. A lot has to be done to live upto this statement. India is a vast country, with  over 6.5 Crores MSMEs, but around 5 Lakh (half a million) MSMEs are in export business. This data should be looked upon and policymakers must work towards improving this area. The SME Chamber of India is committed to supporting MSMEs in overcoming export challenges through strategic initiatives and partnerships.

    – CA Deepak Maheshwari: “Financial solutions and digital transformation are crucial for MSMEs to scale and succeed in international markets. Today, MSMEs have diverse financing options, from NBFCs and lending agencies to investors and private family offices, all eager to engage in the Indian market. Digital transformation is driving significant growth for MSMEs, aligning with PM Modi’s ambitious goal for India to become a developed nation by 2047, further propelling this growth trajectory.”

    – Dr. Abdulhasan Al-Dairi: “International collaborations and partnerships are key to enhancing the global competitiveness of Indian MSMEs. Bahrain and entire Middle East is considering India as a committed and serious business ally. MSMEs of India are getting great level of opportunity here and there is a strong natural synergy between the MSMEs of the two regions.”

    – Mr. Faiz Askari: “This webinar is a stepping stone towards making Indian MSMEs future-ready. The insights and strategies discussed today will pave the way for their growth and success. We urge every single stakeholder of Indian MSME domain join us as we continue to empower Indian MSMEs, making them integral to the vision of a Developed India (Viksit Bharat).”

    Key Takeaways

    1. Boosting Exports & MSMEs role in Developed India:

    – Identified key sectors with high export potential, including healthcare, technology, textiles, Food Processing and agri-products.

    – Discussed strategies for enhancing global competitiveness, such as adopting international quality standards, investing in R&D, and leveraging digital marketing tools to reach global customers.

    2. Overcoming Trade Challenges:

    – Addressed common obstacles faced by MSMEs, including regulatory hurdles, access to finance, and lack of market knowledge.

    – Offered policy recommendations to streamline export procedures, enhance access to export financing, and provide training programs on international trade compliance.

    The interactive Q&A session saw participants actively engage with panelists, seeking expert advice on specific export challenges and solutions. The session provided practical insights into navigating international markets, optimizing supply chains, and leveraging government incentives.

    The “Future Ready MSMEs” campaign by SMEStreet is proudly supported by several prestigious organizations dedicated to the growth and development of MSMEs. The SME Chamber of India enhances the global competitiveness of Indian MSMEs through advocacy, support services, and strategic initiatives. Weaddo provides innovative digital transformation solutions, helping MSMEs leverage digital tools for business expansion and market presence. UNISMO (United International Small and Medium Enterprises Organization) facilitates global networking and market access for MSMEs worldwide. The Bahrain SMEs Society supports the development of MSMEs in Bahrain with capacity-building programs, policy advocacy, and international partnerships. These organizations play a vital role in empowering MSMEs with the resources, expertise, and networks needed to succeed in a competitive global market.

    Moving Forward

    The “Future Ready MSMEs” campaign will continue to support MSMEs in implementing the strategies discussed during the webinar. SMEStreet plans to organize more events, workshops, and initiatives to empower MSMEs and strengthen their role in India’s economic development.

    SMEStreet and DealPlexus Partnership

    Few months ago, SMEStreet and DealPlexus.com have formed a strategic partnership with an aim to help MSMEs through multiple fundraising avenues including SME IPO route. This partnership was under the name of ‘Ek Nayi Udaan’. This Future Ready MSMEs campaign will witness huge action in this collaboration which will provide MSMEs with the necessary support and resources to access capital markets, facilitating their growth and expansion.

    About SMEStreet

    SMEStreet is a leading media platform empowering MSMEs with information, insights, and networking opportunities. Our mission is to support MSMEs in achieving sustainable growth and success in a competitive global market.

    Join us as we drive Indian MSMEs towards a future-ready role in a Developed India (Viksit Bharat).

    For more information, contact:
    Tabinda Askari
    Co-Founder, Vertical Business Media Pvt. Ltd.
    Email: verticalbusinessmedia@gmail.com

  • SMEStreet Celebrates 10 Years of Serving Indian MSMEs

    SMEStreet Celebrates 10 Years of Serving Indian MSMEs

    As SMEStreet marks its 10th-year milestone, we reflect on a journey filled with remarkable achievements, unwavering dedication, and countless moments of inspiration. What began as a vision a decade ago has blossomed into a thriving community, serving as a beacon of empowerment for small and medium enterprises across the globe.

    Over the past ten years, the platform witnessed the transformative power of entrepreneurship, small businesses’ resilience, and innovation’s impact on economic growth. “Through our platform, we’ve championed the voices of SMEs, providing them with invaluable insights, resources, and networking opportunities to navigate challenges and seize opportunities in an ever-evolving business landscape,” commented Faiz Askari, Founder of SMEStreet.

    “As we commemorate this significant milestone, we extend our heartfelt gratitude to our loyal readers, partners, contributors, and supporters who have been instrumental in our journey,” he says, “At this juncture, we at SMEStreet are set to focus on resolving real Business challenges like Access to capital, access to technology, business development and business impact.”

    Over these last 10 years, SMEStreet have also transformed into a stronger MSME ecosystem from being born as a simple media interface. Recently, we started SMEStreet Membership Offerings and have established collaborations with experts and service providers who are working in their respective streams of enabling the MSME ecosystem.

    Top Milestones of SMEStreet’s MSME Engagement

    Total Unique MSMEs Connects – 1.2 Million (12 Lakhs Plus)Monthly Unique Readers – Over 3 Lakhs Weekly Active Readers – 1,00,000 (Approx)SMEStreet Newsletter Subscribers – 4.6 Lakhs Social Media Followers (including Facebook /Instagram/ Linkedln /Youtube ) – 1,64,155 Ek Nayi Udaan – SMEStreet-DealPlexus Collaboration

    A few months ago, SMEStreet announced a strategic collaboration with DealPlexus to deliver services that are designed to solve MSME needs for growth such as access to finance, management of finance, Business insurance and several other services that can ensure ease of doing business for any entrepreneur. “We are thrilled to formulate this groundbreaking collaboration between SMEStreet and DealPlexus, which is designed to help MSME/SME entrepreneurs to continue their chase for business growth and profitability. This collaboration shows our commitment of empowering businesses and fostering growth opportunities,” said CA Deepak Maheshwari, Co-Founder of DealPlexus. This collaboration is announced as ‘Ek Nayi Udaan’ where SMEs can explore a wide array of strategic partnerships, investment opportunities, and business synergies.

    “This collaboration is aimed to create a dynamic MSME ecosystem with diverse capabilities to serve the MSME sector. We at SMEStreet are working towards completing a comprehensive coverage of business-oriented services. Our collaboration with DealPlexus is clear evidence of creating a comprehensive MSME ecosystem. From just content sharing, we have evolved as a Pro -MSME Ecosystem- committed to enhancing the MSMEs’ growth,” says Faiz Askari of SMEStreet.

    On the occasion of the 10-year milestone, SMEStreet is excited to announce the expansion of SMEStreet’s engagement and services for the MSME sector.

    The 2024 & Beyond Journey

    From 2024 onwards the platform is shaping up as a more dynamic, more engaging services provider for MSMEs who wishes to grow to the next level.

    Last 15 years in India have witnessed a great upsurge of MSMEs. This sector have taken a strong and visible space in the policymaking. This phenomenon of Indian economic growth is leading towards a global success story, and SMEStreet would like to contribute in the form of catalyzing MSMEs’ contribution in India’s development story.

    Looking ahead, while entering into the next decade of innovation, growth, and success, “SMEStreet will remain committed to the mission of empowering SMEs, fostering collaboration, and driving sustainable growth. Your unwavering support and trust have fueled our passion to continuously strive for excellence and drive positive change in the MSME ecosystem,” Mr Askari said.

    Upcoming Events & Activities on 10th Year Anniversary

    SMEStreet Team is working on organizing events and forums both in online and offline formats on various business-sensitive issues related to MSMEs.

    About SMEStreet

    With an urge to serve the much-needed service to the Indian SMEs, SMEStreet.in is created to become a dynamic knowledge-sharing platform for SMEs. A platform on which SMEs can not only expect valued content for their business growth but also network with experts who can guide them to achieve growth.

    As part of Vertical Business Media Pvt. Ltd. SMEStreet.in is an initiative dedicated to contributing to Indian MSMEs’ growth.

    SMEStreet @ Social Media
    Facebook
    Youtube
    Linkedin
    Instagram

    Media contact:
    Tabinda Hilal Askari
    9871762630
    Rajat Khare
    marketing@smestreet.in

  • SMEStreet Report on G20 Summit’s Impact on Indian SMEs

    SMEStreet Report on G20 Summit’s Impact on Indian SMEs

    The G20 summit held in India has proved to be a game-changer for Indian entrepreneurs and the business community. This prestigious event brought together world leaders and policymakers, creating a platform for collaboration, innovation, and growth.

    The G20 Summit emphasized the importance of collaboration among nations to tackle the challenges faced by small and medium-sized enterprises. This opens up new avenues for Indian SMEs to forge international partnerships, access global markets, and enhance their competitiveness.

    SMEs Considers India’s G20 Leadership as a Positive Step Towards India’s Global Leadership

    India’s leadership in the G20 summit has been hailed by industry leaders worldwide. Let’s take a look at some insightful quotes that highlight the significance of India’s role on the global stage.

    Commenting on G20’s impact on Indian startups and SMEs, CA Deepak Maheshwari, founder of DealPlexus stated, “As the world’s largest democracy, India’s leadership in the G20 summit reinforces the importance of democratic values in shaping global governance. This seminal event of G20 and the entire year-long activities of G20 gave a strong direction and clarity for the economic leadership of India. After this greatly successful global dialogue, we at DealPlexus clearly foresee that Indian SMEs and Startups shall take centre stage of this epic growth story of Indian economic emergence. I also firmly believe that this event has paved the way for India to achieve a remarkable milestone, propelling its economy to reach the $10 trillion mark in the next decade.

    “India’s leadership in the G20 Summit is a testament to its growing economic prowess and diplomatic influence. ‘With its diverse economy and large consumer market, India has the potential to drive global growth and shape the future of international trade,” commented Mr JK Pathak, a socially responsible entrepreneur in the skill development space.

    While talking to SMEStreet, Mr Pathak also emphasized on India’s strong commitment towards sustainable development, he said,  ‘India’s emphasis on sustainable development and renewable energy during the G20 summit sets a positive example for other nations to follow. And as the world’s largest democracy, India’s leadership in the G20 summit reinforces the importance of democratic values in shaping global governance.”

    “The G20 offered unparalleled showcasing and networking opportunities for Indian SMEs.Apart from the fact that, it brings together policymakers, industry leaders, and experts from various sectors, G20 also created a conducive environment for networking and collaboration. Through interactions with stakeholders from different countries, SMEs can gain valuable insights, exchange ideas, and forge strategic partnerships that can drive their businesses forward. In this brief report we tried to highlight core points that can be considered as key takeaways for Indian SMEs and startups from this huge effort,” says Dr Faiz Askari, Founder of SMEStreet.

    SMEStreet’s Key Findings on G20’s Takeaways

    According to a recently conducted SMEStreet outreach among Indian Business Owners mainly from the SME sector, on the impact of G20 Summit among Indian SMEs, here’s how Indian entrepreneurs and the business community have immensely benefited from this summit:

    1. Enhanced Global Visibility: The presence of global leaders and media attention during the G20 summit has significantly enhanced the global visibility of Indian entrepreneurs and businesses. This exposure has opened up new avenues for collaborations, partnerships, and investments from international markets.

    2. Access to Global Markets: The G20 summit provided an ideal platform for Indian entrepreneurs to showcase their innovative products and services to a global audience. This exposure has facilitated access to new markets, enabling Indian businesses to expand their reach and customer base beyond national borders.

    3. Policy Reforms and Support: The discussions and deliberations during the G20 summit have led to crucial policy reforms that directly benefit Indian entrepreneurs and the business community. These reforms have streamlined regulatory processes, reduced bureaucratic hurdles, and created a more conducive environment for business growth and innovation.

    4. Knowledge Sharing and Learning Opportunities: The G20 summit brought together industry experts, thought leaders, and policymakers from around the world. This created invaluable opportunities for Indian entrepreneurs to learn from global best practices, gain insights into emerging trends, and exchange ideas with their international counterparts.

    5. Investment and Funding Opportunities: The G20 summit has attracted significant foreign investments and funding to India. This influx of capital has provided Indian entrepreneurs with the necessary resources to scale their businesses, invest in research and development, and explore new avenues for growth.

    6. Networking and Collaboration: The G20 summit served as a networking hub, bringing together entrepreneurs, investors, and industry leaders from various sectors. This facilitated meaningful collaborations, strategic partnerships, and knowledge-sharing initiatives that have the potential to drive innovation and create new business opportunities.

    In conclusion, the G20 summit in India has been a game-changer for Indian entrepreneurs and the business community. It has provided them with a global stage to showcase their potential, access new markets, and collaborate with international stakeholders. The outcomes of this summit will undoubtedly shape the future of Indian businesses, enabling them to thrive in an increasingly interconnected and competitive global economy.

    About SMEStreet

    SMEStreet is South Asia’s leading knowledge focused business ecosystem for MSMEs and Startups. In its 10th year of operations, SMEStreet is committed to add value in the Entrepreneurial Success stories. For more information, visit https://smestreet.in.

    Media contact:
    Tabinda Hilal
    Smestreet.in@gmail.com
    +91-9354645130

  • SMEStreet League of Mentors Proudly Welcomes Mr Deepak Maheshwari as the Chairperson for MSME & Startups – Finance & Growth Committee of 2023-24

    SMEStreet League of Mentors Proudly Welcomes Mr Deepak Maheshwari as the Chairperson for MSME & Startups – Finance & Growth Committee of 2023-24

    SMEStreet is excited to Welcome Mr Deepak Maheshwari as the chairperson of 2023’s MSME & Startups – Finance & Growth Committee of SMEStreet League of Mentors (https://smestreet.in/smestreet-league-of-mentors/smestreet-league-of-mentors/). Mr Maheshwari will also be the permanent Mentor of the SMEStreet League of Mentors which aims to ensure easy access of expertise for MSMEs and Startups.

    “Finance for MSMEs and scaling of Startups are very crucial areas requiring serious attention for the growth of our country. The subject holds critical importance for MSME entrepreneurs in India, especially at a time when enormous opportunities are getting generated that require strong and timely execution. Through this engagement, we wish to bring our team’s expertise accessible for any entrepreneur from the startup or MSME sector,” says Mr Deepak Maheshwari (www.linkedin.com/in/deepak-maheshwari-0605b86/), Co-Founder Jindagi Live Group and Dealplexus.com.

    Mr Deepak Maheshwari is an accomplished professional with over 27+ years of leadership experience across diverse businesses. He has led large and diverse teams with GE and IFCI with hands-on mentorship approach. He has well-rounded experience in start-up, growth and business optimization cycles and has facilitated multi-million dollar strategic investments in multiple businesses. He is a qualified CA, CS, CFA and Cost Accountant.

    On this announcement, Dr Faiz Askari, Founder and Chief Editor of SMEStreet welcomed Mr Maheshwari and stated, “This is indeed a great milestone to have the knowledge support of Mr Maheshwari’s experience accessible for MSMEs and Startups. Mr Maheshwari holds a great understanding of today’s financial landscape for credit management and strategic growth for the business. His support and engagement in SMEStreet League of Mentors shall open a great horizon of opportunities for the vast Indian MSME and Startup sector.”

    SMEStreet League of Mentors is a joint initiative of SMEStreet Foundation and Vertical Business Media’s that started in 2020.

    SMEStreet League of Mentors is an initiative designed to bring much-needed expertise closer to MSMEs which is needed for their business growth. Mentors at SMEStreet League of Mentors will not only motivate the entrepreneurs but also bring clarity in business vision. We at SMEtreet have spent years in interacting and understanding the common and specific pain points of MSMEs. One of the most common pains that almost every startup and MSME entrepreneur faces is the limitation of seeking the best possible guidance. Limited knowledge and filtered information make business life difficult, so in order to make the entrepreneur’s life easier and smart and in other words, in our endeavour to contribute in the direction of ease of doing business, we would like to bring you closer to SMEStreet’s League of Mentors.

    About SMEStreet League of Mentors
    Click Here (https://smestreet.in/smestreet-league-of-mentors/smestreet-league-of-mentors/)

    For more information, contact:
    Tabinda H
    verticalbusinessmedia@gmail.com

  • SMEStreet Decoding Budget 2023 Webinar Showcased Key Takeaways for MSMEs in Union Budget 2023-24

    SMEStreet Decoding Budget 2023 Webinar Showcased Key Takeaways for MSMEs in Union Budget 2023-24

    SMEStreet Decoding Budget 2023 webinar was successfully conducted and participated by MSME finance experts. The Decoding Budget is an 9-year-old activity of SMEStreet. after every Union Budget announcement, SMEStreet reaches out to MSMEs and Industry Experts and explains the Union Budget from the perspective of MSMEs.

    This year, the activity was concluded on 15th Feb 2023, with a Webinar – SMEStreet Decoding Budget 2023. The webinar was also presented with the support from Ministry of MSME, Govt of India. Organized by SMEStreet Foundation – MSME-focused Section-8 Organization with an objective to contribute in MSMEs’ Development through Knowledge Sharing and Networking.

    The participants of this year’s Decoding Budget activity included Shri S Ravi, Ex-Chairman BSE and Director of Ravi Rajan & Co., Shri Ajay Thakur, CEO, BSE-SME, CA Deepak Maheshwari, Co-Founder JindigiLive , Shri Sandeep Mohindroo, Managing Director M1XChange and Ms Suhani Gambhir, Chief Customer Success, Presence360. The Panel expressed their observations on this year’s Union Budget with a positive transformative objective and called it an all-rounder budget with a long-term vision for India’s Economic growth. Dr. Faiz Askari, Founder and Cheif Editor of SMEStreet and Secretary General of SMEStreet Foundation (https://smestreet.in/smestreet-foundation/) moderated the event and presented SMEStreet’s entire Union Budget activity which was started in November end 2022 as a pre-budget recommendation, Budget expectations to Post Budget Analysis and a Quick Post Union Budget Survey for understanding key takeaways for MSMEs.

    The Union Budget 2023-24 was presented by Honourable Finance Minister Smt. Nirmala Sitharaman on February 1st 2023 at the Central Hall of Lok Sabha is considered to be a visionary Amrit Kaal Budget. This document gave a great direction to the vision of building India’s global leadership in years to come. This Budget was also designed and aligned with the Goal Setting of India’s Leadership under Prime Minister Shri Narendra Modi’s vision for India.

    From the target chase of 5 Trillion Dollar economy to India’s G 20 Presidency, the Budget 2023 envisioned a clear roadmap for India’s growth and has several takeaways for MSMEs of the country.

    The MSME sector continues to be at the forefront of policymaking towards India’s economic growth. Well, commonly referred to as the backbone of the economy, we at SMEStreet consider MSMEs as the face of the Indian economy.

    The Panel Discussion

    In the Panel discussion, Shri S Ravi, Ex-Chairman BSE and Director of Ravi Rajan & Co., mentioned that this year’s UNION Budget is designed keeping in mind some long term growth. “This Budget bought clarity towards achiving India’s economic growth and global leadership in years to come. UNion Budget 2023’s INfratsructure focus illustrated INdia’s commitment towards overall and holistic growth,” says Shri S Ravi.

    Shri Ajay Thakur, CEO, BSE-SME who has sent his message to SMEStreet have mentioned that through this Budget The hon’ble Finance MInisiter indicated that the Budget 2023 will give a great boost to MSMEs who wish to grow to next levels.

    CA Deepak Maheshwari, Co-Founder JindigiLive, stated his perspective on key takeaways for Indian Startups. Mr Maheshwari commented, “Role of Startups are becoming extremely relevant and dynamic in today’s economic growth. Ease of Doing Business has also become very important aspect for policymaker since last few years. This year’s Budget gave great impetus on this aspect as well.”

    Discussing the issue of Delayed Payment faced by MSMEs, Shri Sandeep Mohindroo, Managing Director M1XChange said, “Delayed Payments are one of the major hurdle for MSMEs’ growth. A lot of efforts are made to tackle this problem. This year’s Union Budget gave more clarity on Govt’s commitment towards solving this problem of delayed payment for MSMEs. However, focus towards digital payments adoption in this Budget document motivates small businesses to further utilise the advantages of digital payments.”

    Ms Suhani Gambhir, Chief Customer Success, Presence360 highlighted the role of technology in bringing much needed positive transformation for MSMEs. Ms Suhani highlighted the importance of digital technologies for MSMEs, specially in achieving manpower efficiency. She also emphasized about Presence360.

    Dr Faiz Askari, Founder and Chief Editor of SMEStreet and Secretary General of SMEStreet Foundation presented SMEStreet’s activity highlights on Union Budget 2023 and mentioned, “We reached out to MSMEs across verticals and geography and tried to understand their expectations from the Union Budget 2023-24. And A post Budget activity we again approached MSMEs and tried to understand their key takeaways from the Budget. This entire activity lasted for over three months with major portion going into the pre budget action. With this Decoding Budget 2023 Webinar we aim to further strengthen our commitment towards strengthenking the MSME Voice at the policydoor step. We are thankful to the distinguished panelists who were part of the activity and shared their expert opinions on the Budget 2023 with the perspective of MSMEs.”

    SMEStreet Budget 2023 Activity

    The entire Union Budget 2023-24 activity was anchored on SMEStreet.in/tag/Union-Budget-2023. The Hashtag #BudgetWithSMEStreet also went actively discussed on Social Media.

    The Key highlights of SMEStreet Post Budget 2023 Survey on MSMEs’ Takeaways from the Union Bduegt 2023-24 are as follows:
    1. Credit Guarantee Enhancement Corporation: A new institution has been proposed to provide credit guarantee for MSMEs and enhance their access to credit.
    2. Emergency Credit Line Guarantee Scheme (ECLGS 3.0): The government has extended the ECLGS scheme to cover MSMEs affected by the second wave of COVID-19.
    3. E-Market Linkage for MSMEs: The government has proposed to set up an e-market linkage for MSMEs to enable them to reach a wider market and increase their sales.
    4. MSME facilitation centers: The government has proposed to set up MSME facilitation centers across the country to provide end-to-end support to MSMEs.
    5. Technology Upgradation: The government has proposed to allocate funds for technology upgradation and modernization of MSMEs.

    The Webinar was broadcasted also on Youtube: SMEStreet ViewPoint Channel (www.youtube.com/watch?v=fZmUHKNb1dI&feature=youtu.be).

  • Future Ready Digital Transformation for Indian MSMEs: Campaign Powered by Staqo and SMEStreet to Empower MSMEs’ Digital Transformation

    Future Ready Digital Transformation for Indian MSMEs: Campaign Powered by Staqo and SMEStreet to Empower MSMEs’ Digital Transformation

    SMEStreet in association with Staqo embarks into the journey showcasing the best roadmap for Digital Transformation to Indian MSMEs. The initiative will be called as ‘Digital Transformation & Future Readiness Series for MSMEs’. This collaboration will showcase the power of efficient digital transformation and guide Indian MSMEs to make the best use of contemporary digital automation for bringing busines process efficiency.

    In this campaign, Staqo will come as the tech knowledge and tech skill partner for educating the MSME sector to become Future Ready through best possible digital technologies. This initiative will also facilitate a fare evaluation of utilizing best in class technologies that can bring positive transformation of business processes like HR, Payroll, Attendance management, Reporting etc.

    Commenting on this campaign of ‘Digital Transformation & Future Readiness Series for MSMEs’ Faiz Askari, Founder Editor of SMEStreet and Secretary General of SMEStreet Foundation commented, “We realise the impoirtance of technollogy for MSMEs. We also know that having correct knowledge towards digital technologies for respective businesses can be a great asset for every entrepreneur. Through this campaign, we aim to educate entrepreneurs and CXOs towards best practices of digital transformation and also try to create hand holding mechanism as well for those who wish to take a stronger and guided route towards digital transformation. I am thankful to Staqo’s team and specially Presence 360 for coming forward as a support for such initiative.”

    “Indian MSMEs are at a threshold of capitalizing great opportunity. Technology have become the most important enabler for business growth. At Staqo we understand that people-management dilemmas and business imperatives acts as challenge and hindrances for contributing towards business growth. Having served a big swathe of small and medium enterprises from various verticals, we understand all the challenges and constraints that a SME organization confronts. This experience is getting utilized in developing some strong and comprehensive solutions which comes as an answer for every business who wish to explore growth,” stated spokesperson of Presence360 by Staqo.

    Key Components of this campaign will be series of articles, blogs , webinars and podcasts in which various aspects of MSME/SME focused digital transformation will get discussed. The expected outreach of this initiative is to cover almost every industry sector with One Lakh (100 Thousand) MSMEs in next few months.

    Staqo is clear and confident, and is a name that customers rely on. We create advantages, while being transparent, cost-savvy and futuristic. Armed with a 200+ team of unparalleled experts, in all domains of Enterprise Technology, we set out on an unstoppable streak of transforming over 5000 entities – in and out of India!

    About Staqo

    Staqo is an offshoot of a billion-rupee conglomerate – Sheela Foam Limited (SFL). It all began with a question – ‘What can we bring here that no one else has?’ And, the answer lay in our decades of SFL lineage – the ability to be simple and relevant; and to take responsibility.

    About SMEStreet

    SMEStreet.in is a dynamic knowledge ecosystem for Indian MSMEs. A beyond media platform- which acts as a trusted knowldge partner for entrepreneurs who wish to expand, grow and evolve from their existing level. The content inflow for this portal not only includes news, analysis, interviews and success stories but it also have a window of opportunity to enhance the profitability of business, personalized networking with subject matter experts and insightful market research data.

    About SMEStreet Foundation

    After over 6 years of the online presence of SMEStreet.in and after engaging with over One Million CXOs from MSMEs, SMEStreet Foundation comes into reality as a ‘Section 8’ Company registered from Haryana, India to serve the potential rich Indian MSME segment and it’s vast ecosystem.

    For more information, contact:
    Faiz Askari
    Faiz@smestreet.in
    9871762630

  • SMEStreet and World University of Leadership & Management Join Hands for Bringing Academia and Industry Closer

    SMEStreet and World University of Leadership & Management Join Hands for Bringing Academia and Industry Closer

    In order to elevate the relationship between academia and industry, SMEStreet Foundation and the World University of Leadership & Management, France have collaborated. This collaboration is expected to highlight Indian entrepreneurial and social leaders so that their professional experience can become a benchmark at a global level.

    India’s success story is becoming stronger and stronger at the global level. The importance of Indian-origin entrepreneurs and professionals have become visible at almost every level. On such backdrop, MSMEs and Startups from India are also becoming well-acknowledged globally.

    “With this collaboration, we aim to provide a credible global platform for India’s entrepreneurial and professional leadership.” We will work closely with the World University of Leadership & Management (WULM) for providing success stories which possess the potential of motivating their peers in their respective professional fields. Whether business leaders, entrepreneurs, social entrepreneurs or professionals, India is producing great potential that can make it’s impact at a global level. “We at SMEStreet are excited with this collaboration to provide and facilitate such level of knowledge sharing,” says Dr Faiz Askari, Secretary General, SMEStreet Foundation.

    “We are very excited and happy to collaborate with SMEStreet, as this gives us access to the potential network of Indian philanthropists and professionals who can become a success story at a global level,” says Dr. Randi W Ward, Chancellor of World University of Leadership & Management (WULM), France.

    Dr. Diwakar Aryal, CEO of, WULM commented, “This collaboration is considered to bring very important synergy for academia and industry. With SMEStreet’s networking and expertise and WULM’s academic expertise, we wish to create an efficient pathway of recognition for professionals. This will create success stories influential and approachable for those who wish to leverage the expertise.”

    This collaboration will generate global-level dialogues and forums which will highlight Indian leadership at a global level.

    About SMEStreet – https://SMEStreet.in

    SMEStreet.in is an efficient and dynamic ecosystem for MSMEs and Startups. The SMEStreet Platform is a window of opportunity for every entrepreneur to enhance the profitability of business, personalized networking with subject matter experts and insightful market research data. Success Stories and high quality business networking is facilitated by SMEStreet to empower pro-business environment at a global level. The portal has over 1 Million unique visitors every month and over 3.5 Million Pageviews are registered here.

    About SMEStreet Foundation

    SMEStreet Foundation is created to serve the potential rich entrepreneurs, aentrepreneurs,preneurs and Professionals from Indian MSME and startup domain. Registered as a Section 8 company. The SMEStreet Foundation is aimed to bring value of knowledge and become a proactive platform of enhancing business productivity and peer to peer learning.

    About WULM (wulm.org)

    World University of Leadership and Management is headquartered in France and working with the visions and missions of the openness philosophy, believing that open universities are rooted in the idea that education is a basic human right, that teaching and learning need to be democratized, that equity in education needs to be facilitated and social justice.

  • Uttar Pradesh MSME Minister Rakesh Sachan Urged MSMEs to Invest in the State at SMEStreet GameChangers Forum 2022 Webinar

    Uttar Pradesh MSME Minister Rakesh Sachan Urged MSMEs to Invest in the State at SMEStreet GameChangers Forum 2022 Webinar

    Shri Rakesh Sachan, Cabinet Minister for Ministry of MSME and Khadi, Government of Uttar Pradesh, attended the SMEStreet GameChangers Forum 2022 Webinar as the Chief Guest and emphasised Uttar Pradesh’s MSME Policies and Shri Yogi Adityanath’s government’s commitment to MSMEs’ development in the state. Smt Mercy Epao, Joint Secretary, Ministry of MSME, Govt of India, attended the event as the Guest of Honour and delivered her keynote address, highlighting flagship MSME policies and schemes that are designed to give a boost to MSMEs in order to bounce back on a growth path after the pandemic.

    Shri Rakesh Sachan, Minister of MSME and Khadi in the UP Government, emphasised the UP Government’s commitment to creating a positive and safe environment for business.”We are working towards ensuring an all-around positive ecosystem for economic upliftment in the state. The last few years have shown a great level of enthusiasm from both MSMEs and the investor community from across the world in coming to our UP state.

    Highlighting the first 100 days of the second term of the Yogi government of Uttar Pradesh, the MSME Minister of UP mentioned the success of the Mega Loan Mela that Chief Minister Shri Yogi Adityanath launched. Through this initiative, a loan of 16 thousand crores has been distributed to one lakh nine hundred thousand beneficiaries of the state.

    The Minister also highlighted initiatives like the sanctioning of common facility centres in various districts under the One District, One Product common facility centre (CFC) saying, “Such schemes are helping MSMEs from smaller towns like Azamgarh, Siddharthnagar, Sitapur, and Ambedkar Nagar. Similarly, the proposal for the upgradation of infrastructure facilities under the central government’s Cluster Development Program shows that major development work is happening in Jalaun’s Industrial Asthan Coach, Salarpur Industrial Area of Badaun in only the first 100 days of our government. The work of setting up the Woolen Thread Cosmetic Center in Prayagraj is going on. About 35% of the building work has been completed.

    While giving the keynote address to the SMEStreet GameChangers forum, Smt Mercy Epao, Jt Secretary of MSME Ministry emphasized on Central Government’s focused approach towards creating a conducive ecosystem for the growth of MSMEs in the country. She said that the government has initiated many programs and schemes in credit facilitation, cluster development, technology centres, market linkages, skilling and capacity building, encouraging innovation and sustainability, and creating better coordination between the Central Government and State Governments. The Ministry of MSME is not only working on policies but also addressing the grievances of MSMEs through online Champions and Samadhan portals. The MSME Ministry has recently launched the CBFTE Scheme to support first-time exporters by assisting them financially with registration with EPCs, insurance premium testing, and certification of their products and services. Innovation, ZED and Lean schemes will help the MSMEs to become competitive in the global value chain. The Ministry has launched the Udyam Registration portal to encourage MSMEs to access various benefits offered by the government. It is also a step toward bringing the MSMEs into the formal sector.

    “Towards inclusive growth, the Ministry has been implementing NSSH Scheme to support SC/ST entrepreneurs mainstream their economic activities. It has been working with a focused aim of reaching 4% procurement by the CPSEs/Government from the SC/STs. To encourage women entrepreneurship, SAMARTH has bn announced on 8th March 2022 to reserve 20% seats for all skill programs n exhibition/fairs (both domestic & international),” said Smt Mercy Epao, “Skilling is one of the major programs taken up to encourage youth to take up entrepreneurship or find placement for livelihood.”

    “We are also working on the final stage of development of the updated National MSME Policy. We have invited suggestions and recommendations from industry associations for ensuring a comprehensive National MSME Policy. “We are thankful to all industry associations, including SMEStreet Foundation, for submitting their recommendations for the updated MSME Policy,” says Smt. Mercy Epao.

    The webinar was held on July 19th and was attended by over 4,000 MSME audience members via SMEStreet.in and various social media platforms. Shri P Udayakumar, CMD of NSIC, also participated in the forum and emphasised NSIC’s commitment to building a new India which will have successful MSMEs and a sustainable growth ecosystem for the sector.

    Shri P Udayakumar, CMD, NSIC, Ministry of MSME, presented a special address in which he highlighted MSME schemes that are executed by NSIC.

    Shri Uadayakumar said, “While NSIC schemes are getting very positive feedback from MSMEs, I certainly see a very positive growth curve for Indian MSMEs in the next few years.” The next few years will witness the great results of MSME success stories. I am extremely pleased to note that SMEStreet is organising a webinar on ” Role of MSMEs in the chase of 5 Trillion economies.”

    NSIC plays a major role in recharging the MSME units after the pandemic hit to get the business opportunities growing in an exponential way from the domestic and export markets.

    Earlier, Shri Faiz Askari, Founder Editor of SMEStreet and Secretary General of SMEStreet Foundation, welcomed the distinguished speakers into the second webinar of SMEStreet GameChangers Forum 2022 and said, “The MSME sector, in today’s time, is at the crux of a global economic evolution. Scenarios are fast changing and Indian MSMEs are completely qualified to capitalise on the new regime of opportunities. We are SMEStreet. We are extremely excited to bring you this forum, which is aimed at highlighting contemporary opportunities for MSMEs. Through various webinars, podcasts, articles, and reports, SMEStreet will continue to explain and explore every single opportunity for MSMEs’ growth. Today’s webinar was phenomenally successful with respect to showcasing such opportunities, and I am thankful to our leaders and policymakers who are committed to creating an MSME-oriented ecosystem.”

    In a special session delivered by Shri Samir Sathe, Executive Vice President, Wadhwani Advantage, Wadhwani Foundation MSME Development Services and the roadmap by Wadhawani Foundation were explained and highlighted.

    A panel discussion on the Roadmap for MSMEs with MSME Perspective in the Pursuit of India Becoming a 5 Trillion Dollar Economy was also organized, with distinguished panellists such as Shri P Uadayakumar, CMD of NSIC, Ministry of MSME, Shri Naresh Verma, Past President, Manufacturers Association Faridabad, and Shri Abhinav Jain, Founder, Almond Virtex participating.

    For the panel discussion, Shri Udayakumar mentioned, “NSIC offers fully integrated solutions to MSMEs, from incubation to last mile exports through various interventions. The latest game-changing interventions are Self Reliant India( SRI) Fund for equity infusion with a corpus of Rs 50000 Crs, A scheme for the first-time exporters supported by the Ministry, and Subsidy support for Micro enterprises for MSMEmart membership among another commercial scheme. We assure the MSMEs that we will provide all required commercial support and hand holding so that MSME units play a major role in making the 5 Trillion economies.”

    Shri Naresh Verma spoke on the competitiveness and potential of Faridabad, Haryana-based manufacturers and also hinted at the government’s proactive efforts to improve the level of ease of doing business. also pointed out some challenges like power and fuel supply for the smooth functioning of the business. Shri Abhinav Jain highlighted the role of new-age collaborative technologies that are enabling MSMEs to do business in the new era.

    Mr. Abdulhasan Al-Dairi, Chairman of Bahrain SMEs Society and Deputy Chairman of the United SMEs Organization (UNISMO), participated in the panel discussion and gave a global perspective on business and also touched upon opportunities for Indian and Bahraini MSMEs.

    A detailed report on the panel discussion will be published separately on SMEStreet.in.

    The forum also highlighted SealTech International as an MSME from Faridabad which is doing exponential work in the area of the oil and gas sector not only in India but across the globe and the USA in particular. Shri Raju Mishra, CEO & Director of SealTech International, presented details of his organisation’s milestones. This section was part of the SMEStreet Foundation’s Star MSME Showcase in which SealTech International was featured as a success story.

    SMEStreet GameChangers Forum 2022 is supported by the Ministry of MSME, Govt. of India, Entrepreneurship Development Institute of India, Ahmedabad, National Small Industries Corporation, LexComply, and Almond-Vertix. SMEStreet Foundation is the executing agency for this activity, and global partners include Bahrain-based UNISMO, AASGON, and United Nations Global Compact, UK.

    About SMEStreet GameChangers Forum 2022

    On World MSME Day, June 27th, 2022, SMEStreet GameChangers Forum 2022-a series of webinars and podcasts were launched. The theme of the entire series is “The Role of MSMEs in Chasing the 5 Trillion Dollar Economy Target.”

    SMEStreet is working along with its stakeholders to create a valuable and noteworthy ecosystem for MSMEs where meaningful discussion for the upliftment of Indian MSMEs can happen.SMEStreet is working along with its stakeholders to create a valuable and noteworthy ecosystem for MSMEs where meaningful discussion for the upliftment of Indian MSMEs can happen.

    The keynote address of the inaugural session of SMEStreet GameChangers Forum 2022 was delivered by Shri BB Swain, Secretary, Ministry of MSME, Government of India. Shri Swain highlighted the recent milestones that were achieved by the MSME Ministry towards MSME development. He mentioned, “Coordinated and collaborative efforts of stakeholders have to lead us to win over the recent pandemic. Today, we are on a recovery path, better positioned than the previous year, with a projected growth rate higher than that of the global economy.”

    SMEStreet GameChangers Forum 2021

    In June 2021, SMEStreet GameChangers Forum was launched by the Then Hon’ble Union Minister of MSME Shri Nitin Gadkari and the Special keynote address was delivered by Hon’ble Governor of Kerala State Shri Arif Mohammad Khan. Shri Gadkari made an important announcement on this SMEStreet GameChangers Forum about introducing a revised and simplified process of MSME registration. PIB News Link (https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1727325)

    About SMEStreet Foundation

    SMEStreet.in was founded in 2014 with the aim to become an effective voice and an efficient Ecosystem for Indian MSME Entrepreneurs. Now, in 2022, with over 7 Lakh visitors per month, SMEStreet has been working sincerely for the MSME sector’s holistic growth. Global Networking and Sectoral focus are making this platform the most popular MSME media platform in this part of the world. As an ecosystem, SMEStreet has also registered as a Section 8 company working along with this sector’s advantages and building capacities through knowledge and networking.

  • SMEStreet GameChangers Forum 2022 to be Inaugurated on World MSME Day

    SMEStreet GameChangers Forum 2022 to be Inaugurated on World MSME Day

    While the nation is celebrating Azadi ka Amrit Mahotsav this year, this World MSME Day, We are excited to bring this year’s season of SMEStreet Game Changers Forum. As you know, we, at SMEStreet is working in the area of MSMEs’ upliftment and development since 2014. Our aim is to ensure an optimised contribution of MSMEs in developing the Economy. This year, the core theme of SMEStreet Game Changers Forum 2022 is acknowledging the Role of MSMEs in chasing the Target of 5 Trillion Dollar Economy.

    In this bid, we are conducting the inaugural webinar of the SMEStreet GameChnagers Forum 2022 on June 27th 2022 at 4:30 PM. These webinars will focus on highlighting opportunities for MSMEs which can help MSMEs maximise their Contribution to the Chase of 5 Trillion Dollar Economy Target.

    Chief Guest of the Inaugural Session of SMEStreet GameChangers Forum 2022 will be Shri BB Swain, Secretary, MSME Ministry, Government of India. He will speak on his ministry’s vision and plan for Indian MSMEs in achieving next-level economic growth and build a strong momentum towards PM Shri Narendra Modi’s Vision of India, which is an economic leader for the world and becoming a 5 Trillion Dollar Economy.

    And we at SMEStreet are committed to making the best out of every single opportunity to recognise the MSMEs’ Potential and contribute in making the MSME ecosystem proactively for MSME Development through knowledge sharing.

    “MSMEs in India are at a very critical period. We have witnessed which we never wanted to see in our lives in the COVID era. But, now, the demand of the time is to look beyond the challenges and move ahead. Explore opportunities and evaluate every single possibility which can make your business a better one. With this initiative we aim to highlight and acknowledge contemporary trends and opportunities that are existing for the MSME sector. The entire activity of SMEStreet Game Changers 2022 will add to the previous two-years of game changing activity for bringing a positive curve into MSMEs’ growth story,” says Faiz Askari, Founder and Editor of SMEStreet.

    SMEStreet GameChangers Forum 2022

    The Forum is aimed to highlight, showcase and recognize the potential of the Indian MSMEs and for the Indian MSMEs. An interactive showcase of knowledge and networking for MSMEs will emphasize opportunities and explain the roadmap to achieve those opportunities.

    In this initiative, we will highlight and showcase opportunities for MSMEs to explore growth which will not just transform their respective businesses but also make their contribution in making India- A Truly a World Leading Nation from the perspective of MSMEs Landscape.

    Key Supporting Agencies and Organizations

    • Ministry of MSME, Govt of India
    • NSIC
    • Entrepreneurship Development Institute of India, Ahmedabad
    • Lexcomply
    • SMEStreet Foundation
    • Almond-Virtex

    Global Organizations Supporting SMEStreet GameChangers 2022

    • UNISMO, Bahrain
    • AASGON, Africa- Europe
    • United Nations Global Compact
    • GGIS, United Kingdom

    Key Activities at SMEStreet GameChangers Forum 2022

    • Series of Webinars
    • SMEStreet Report: Industry 4.0 Among Indian MSMEs
    • Podcasts
    • Thought-Provoking Articles
    • MSME Success Stories
    • Opportunity Showcase for Startups

    The Impact

    Over 3.5 Million CXOs from MSMEs are expected to witness this event series through various digital media platforms including SMEStreet.in

    Live Streaming on SMEStreet.in

    Facebook – facebook.com/smestreet.in

    Youtube – SMEStreet ViewPoint

    Social Media Broadcast at1600 Hrs (4:30 PM IST) on

    Monday, June 27th 2022

    About SMEStreet GameChangers Forum 2021

    Started in 2020 after the COVID outbreak, SMEStreet GameChangers Forum is a campaign to recognise the influencers who contributed a strong, proactive and smart strategy in pursuit of growth. SMEStreet featured SMEStreet GameChangers 2020 List naming Union Minister MSME, Shri Nitin J Gadkari And UP’s MSME Minister Shri Siddharth Nath Singh among India’s key influencers (GameChangers) who contributed significantly in transforming the pandemic crisis into an opportunity for MSMEs to fightback from COVID.

    The SMEStreet GameChangers Forum 2021 witnessed Union Minister, Hon’ble Shri Nitin J Gadkari as the Chief Guest and Governor of Kerala, Hon’ble Shri Arif Mohammad Khan as the Guest of Honour of the SMEStreet GameChangers Forum 2021 on June 19th 2021.

    The list of personalities includes Shri Nitin Gadkari, MSME Minister, Govt. of India, Shri Siddharth Nath Singh, MSME Minister for Uttar Pradesh Govt., Mr. Vinai K Saxena Chairman of KVIC/ (Now Lt. Governor of Delhi), Shri Abhishek Singh, CEO MyGov, Mr. Nikhil Arora Managing Director of GoDaddy, Shri Arun Kumar Jha, DG NPC and Mr. Tejas Goenka of Tally Solutions are among top listed Game Changers of SMEStreet GameChanger 2020 List.

    About the Inaugural of SMEStreet GameChangers Forum 2021

    SMEStreet GameChangers Forum Inaugural Session on June 15 2021

    Key Highlights of the Inaugural Session of SMEStreet GameChangers Forum

    • Union MSME Minister, Hon’ble Shri Nitin Gadkari delivered Special Keynote Session
    • Governor of Kerala, Hon’ble Shri Arif Mohammad Khan delivered a Special Inaugural Address on MSME Entrepreneur Motivation.
    • Shri BB Swain, Secretary MSME participated and delivered his vision & Plan for MSME development.
    • Union Minister Shri Nitin Gadkari made a remarkable Announcement of Easing out the MSME Registration Process at the SMEStreet GameChangers Forum.
    • Distinguished Industry Leaders Participated in the Event.

    Youtube Link: youtu.be/2t99VxqGgyE

    About SMEStreet

    Started in 2014, SMEStreet is an ecosystem for MSMEs and Startups which are aiming to grow to the next level. This knowledge driven platform is beyond just a media, it aims to highlight opportunities that are existing for small businesses and it also provides a guided approach for MSMEs to chase and capitalize those opportunities.

    For more information, contact:Faiz@smestreet.in
    +91-9871762630
  • SMEStreet and Tally Solutions Join Hands for National Productivity Day’s Exclusive Webinar on Industry 4.0

    SMEStreet and Tally Solutions Join Hands for National Productivity Day’s Exclusive Webinar on Industry 4.0

    SMEStreet along with Tally Solutions organized a webinar on the 12th of Februrary,2022 to mark the occasion of National Productivity Day, on the theme Industry 4.0 – Journey Ahead for MSMEs.

    The National Productivity Day is a part of the National Productivity Week observed from 12th-18th February every year in the country by the National Productivity Council under the Ministry of Commerce and Industry.

    In light of the National Productivity Day that aims to highlight the importance of productivity, efficiency and innovation across different sectors of the economy so as to augment the economic growth of the country altogether, the focus of the webinar essentially revolved around understanding of Industry 4.0 and the kind of opportunities it brings to the table for the MSMEs particularly.

    The webinar saw the presence of distinguished panelists who articulated their ingenious perspectives on various aspects of Industry 4.0 and the roadmap for MSMEs to navigate the same and equip themselves for the future.

    Mr. BB Swain, Secretary, MSME Ministry, shed light on the enormous significance that technology holds as a means to drive the MSME sector and the digitization of manufacturing process therein. He also highlighted various schemes and measures undertaken by the Ministry to promote the integration of the essentials of industry 4.0 amongst MSMEs. The ministry is working on schemes still under discussion that are primarily concerned with providing necessary support and information to MSMEs regarding registration, access to credit and technology and to all related activities which can enhance their performance quality. “The ministry has been running several seminars, workshops and trainings to create awareness and familiarization of M2M, IoT, AI, etc. through its various technology centres.”

    Mr. Swain also added, “The Ministry of MSME is working with clusters and associations to assess ground level requirements. Among such endeavours is one of getting in place an IoT readiness index; it’ll be a diagnostic study to assess the appetite and acceptability. Once available, the necessary and customized intervention will be provided.”

    Moreover, Mr. Swain elaborated on the endeavours of the Ministry like the Champions portal to curtail the ordeal faced by MSMEs post the onset of the pandemic, especially the micro industries that were impacted the most. The Champions Portal was set up to address the grievances of MSMEs about 15 per cent of which were technology related which in turn affirmed the receptiveness of the sector to technology and Industry 4.0 by and large.

    Complete Recording of the Webinar

    There exist a multitude of challenges that the MSME sector has to endure so as to sustain in the market and M. S. Ravi, Ex Chairman, BSE India, rightly elaborated on some of the key components that either make or break the MSMEs namely, Efficient business model, Equity and working capital, Operating costs, Ability to bear shocks and lastly an Efficient credit cycle.

    Stressing on the relevance of incorporating technology into MSMEs to optimise productivity, M. Ravi said, “The operating costs can be reduced by 5-7 per cent through technology. Technology doesn’t come easy; we have to have a shared platform for common industries so that at least the technology costs can come down.” In addition, M. Ravi opined that the exorbitant compliance costs like GST, tax, etc. can also be reduced by a sizeable amount through the use of adequate technology.

    Apart from technology; the ability to constantly adapt to the changing needs of the customers, to be able to engage with them and analyse the changing nuances of the market are all pivotal in fostering innovation amongst MSMEs. “As we look at the culture in addition to the customer, the second important pillar which I think each one of us as we reflect, will recognise, is the need to innovate,” said Mr. Manoj Chugh, Board Member, Mahindra Group. He also added, “As we look at making investments in technology which are very very important, it is also incredibly important to look at reskilling our workforce because if our workforce doesn’t understand how the new world is going to work, we are not going to be successful as an entrepreneur or as a small team which is driving the business.”

    Mr. Arun Kumar Jha, Ex Director General, NPC, also gave his insights regarding how industry 4.0 is likely to revolutionize how businesses work in the country in more ways than one and has out and out provided an exponential boost to the country’s economic development through the generation of employment opportunities, foreign exchange by means of export of IT services to other countries so on and so forth.

    However, It would be naIve to generalise that all existing entrepreneurs are familiar with ways to navigate the intricacies of technology and the digital ecosystem to operate their businesses. Vedanarayanan Vedantham, Business Head, Razorpay spoke on similar lines that how with the influx of sophisticated digital payment gateway providers such as Razor Pay, the new age start up entrepreneurs belonging to the MSME sector especially, although lack decent levels of financial and digital literacy, yet have been successful at running their businesses seamlessly by virtue of using easy to use digital payment products. He further added, “Digital payments have become democratized and accessible to everybody. It’s no longer elitist, it’s egalitarian. It has become essentially an aam aadmi platform.”

    About SMEStreet

    SMEStreet.in is South Asia’s leading MSME and startup ecosystem aimed to inform and motivate entrepreneurs to grow more and become more valuable for the economy.

    SMEStreet Foundation

    Committed for MSME development through various knowledge sharing and awareness-building activities aimed to empower various segments of MSMEs and entrepreneurs. Believing in the lines of nation-building through MSME development.