Harnessing India’s SME potential


The “Great Indian SME Yatra 2019″, a unique initiative to connect tier 2 & 3 cities SME’s with best of technologies and right opportunities recently held its second event in Vizag. The Vizag event conducted in association with Vizag Industrial Scan was well attended by over 100 participants who not only got to learn on some of the leading technology solutions available but also got to interact with senior business heads of organizations.

From Scoot airlines to Epson printers to Tally accounting software, senior representatives from these organizations made presentations to the SMEs and importantly talked about ways their respective products/services could assist their businesses.

Speaking to Vizag Industrial Scan, Mr Vasuki Kashyap Director Marketing of the Great Indian SME Yatra said ‘This is India’s only tier 2 & 3 cities SME outreach program. In 2018, we completed nearly 30 cities across 12 states, and in 2019 we are aiming to reach out to nearly 50 cities’. 

On Why MSME’s:

Explaining the importance of MSMEs in India Mr Kashyap stated that the MSME sector contributes 31 per cent of the GDP from service activities, and 37 per cent of India’s manufacturing output to the Indian economy.

He said that the MSME sector also facilitates job creation and that the sector has provided employment opportunities to more than 120 million people.

In terms of trade, Indian SMEs contribute almost 46 per cent of the overall exports from the country, and has maintained a consistent growth rate of 10 per cent said the director marketing Mr Kashyap.

Panel Discussion

The event  witnessed an interactive panel discussion organised by Vizag Industrial Scan with eminent speakers such as Mr MP Dubey, joint director STPI; Mr HemantKhatri, Director, HSL; Mr SudhakarPantula, ITAAP and Mr PradipMoharikar, Chairman Vizag International P Ltd.

Highlighting the incentives the Indian government has for SMEs Mr Dubey pointed out the various schemes that SMEs could avail in getting assistance from the government and said that one needs to be aware of the government schemes he/she can avail for their businesses.

Mr Khatri of Hindustan Shipyard Limited pointed out the various opportunities HSL has for SMEs and how they could participate in it.

Mr Pantula of ITAAP spoke on the importance of IT in SMEs and mandated the further use of technology in one’s business.

Mr Moharikar spoke on some of the issues faced by small and medium scale businesses while also identified procurement opportunities from PSUs.

Mr Vasuki further said that the Small & Medium Enterprises (SME) segment is expected to play a significant role in the emergence of the Indian economy and shall increase the share of its contribution to GDP from the current 8 per cent to 15 per cent by 2020.

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