SMEStreet Launches 'Future Ready MSMEs' Campaign on MSME Day 2024

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.