Internet is the most fertile medium to yield business growth
Ease of Financing and Access to Technology will help SMEs stand on firmer legs
The success of a business is dependent on several external factors including eco-political situation. In that perspective Emerging Business Forum (EBF) organized by IndiaMART foused on charting out different ways to assist SMEs in their entrepreneurial journey.
Themed Make in India: The Ground Reality, the concluding EBF session analysed 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 in the country.
Dinesh Agarwal, CEO and Founder IndiaMART, lauded Prime Minister Narendra Modi’s ambitious vision for SMEs to contribute to 25% of the GDP by 2025. He believes it to be an immense opportunity for the industry. “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 mould and deliver," he said. Talking about the power of the internet, he 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”.
“We request the government to take steps towards building a conducive business environment and simplify complex policies and processes. Reforms like implementation of GST, easing financing options for SMEs and encouraging technology adoption are some of the crucial factors that would place SMEs on a high growth trajectory”, he added.
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 various disruptions affecting the economy. “Easy access to finance and access to technology are the two crucial factors that are deterring MSMEs growth matrix in the country. For Make in India vision to be a practical reality, it would take at least 8 to 10 years and cannot be proved in 18 months.”
Kalraj Mishra, Union Minister for Micro, Small and Medium Enterprises also gave a special address at the Grand Finale of the forum.
The 5th edition of IndiaMART Emerging Business Forum’s Grand Finale in Delhi is preceded by its tremendous success in cities, including Faridabad, Ahmedabad, Kolkata, Jaipur, Hyderabad, Ludhiana, Surat, Vadodara, Bangalore, Indore, Pune and Mumbai.