New Delhi: MSME Business Forum India, with over 600+ Subject Matter Experts helping Micro, Small & Medium Enterprises (MSMEs) towards the Government of India’s vision on the Ease of Doing Business, recently announced the launching of a MediaValueWorks (MVW) -MSME Development Centre.
A recently concluded webinar titled #MSME: 2021 Investment Program, received an overwhelming response from industry participants, investors, and distinguished visionaries from varied backgrounds.Ravi Nandan Sinha, Director, MSME Business Forum India, said, “Estimates suggest that 30% to 40% of MSMEs in India may tend to fold up and ceases to exist as the pandemic drags on. Largely, India’s MSMEs have been driven by traditional family businesses that are committed and are in the business for long-term stability. The MVW-MSME Development Centre shall work along with these MSMEs who are looking to collaborate, explore opportunities via Joint-Ventures, International Investments and transform to thrive in the new normal.”
They will work in line with the vision of GOI to support MSMEs. We aim to collaborate with partners and associates to grow the network across the globe. The MVW-MSME Development Centre shall focus on Micro, Small, and Mid-sized MSMEs transform by going digital, incorporating global best practices, executing efficient workflows, marketing strategies, and being investment-ready, said Rachana Chowdhary, Chief Executive of the Development Centre.
MSMEs have contributed significantly to expanding entrepreneurial endeavours through business innovations and annually contributed 30.27% in All India GDP in FY 2019-20. Dr. Sindhu Bhaskar, Co-Chairman & Founder, EST Global Inc. CIC, MIT, Boston, said, “Bringing financial wellness to the underserved communities has been a subject of global importance. Sharing examples of how several countries in Europe, Africa are adopting, India’s challenge on the last-mile connectivity for the Indian farmers opens up huge opportunities for the new-aged fintech entrepreneurs.” Dr. Bhaskar expressed his delight at being on the Advisory Board of the Development Centre.
Sandeep Ohri, CEO, MackInfra, advisor to MSMEs, said, “Indian MSMEs need to adopt global best practices and create long-term vision while considering a Joint-venture or an M&A. While typically, the deal could go through successfully between 3 to 6 months, investors are keen to thoroughly understand the MSME Entrepreneur’s thought process. Development Centre providing 360-degree transformational consulting, marketing, branding, mentoring, and advisory services is an excellent tool for the right MSMEs to leverage upon.”
“Indian MSMEs need to get investment ready as there are opportunities to be bagged. Indian MSMEs are rightly placed to win global contracts, also in alignment with the Aatma Nirbhar Bharat Mission, India’s digital workforce can help build competitive businesses’ ‘, said Dr. S.K. Singhal, President (Hon.), MSME Business Forum India.
Indian MSMEs are known for producing better-quality products. A robust credit provisioning with straightforward compliance frameworks, backed by technology upgrades, will succeed in rebooting India, said Nirbhay Kant Gargya, Founder, NCG Corporate, a manufacturer exporter.
“Series of lockdowns increased women’s domestic workload significantly. Women entrepreneurs pan-India got severely affected during the pandemic. Currently, we are working with a few MSME businesses from the state of Maharashtra, Gujarat, Karnataka, and Andhra Pradesh. We are looking to expand on our horizon across other states. The Development Centre can help accelerate women-led MSMEs in India, especially as a women entrepreneur herself leads the same, said Darshana Thakkar, Womenprenuer and an MSME Transformation Specialist.”