India SME Forum launched of its Telangana Chapter
“MSME today is the catalyst for sustainable growth of economies and its entrepreneurs whose ventures that will find solutions to achieve the Sustainable Development Goals (UN SDGs) and I feel its time India as a progressing nation must embrace the growth of this enterprise and help develop an ecosystem for their sustained and inclusive growth," said Hema Jain, President, India SME Forum, Telangana Chapter.
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- Country:
- India
India SME Forum forayed into Hyderabad with the launch of its Telangana Chapter on Saturday. Mr. S. K. Joshi, Chief Secretary, Government of Telangana, formally launched The India SME Forum - Telangana Chapter in the inauguration ceremony of a seminar on Accelerating Business Using Technology organized by the forum.
Speaking as Chief Guest Mr. Joshi said “In the country like India, people look towards traditional development for jobs, perhaps that is the reason in the diversity of view of numbers, so the best opportunity is to encourage entrepreneurs and nothing better than small and medium enterprises and congratulate the judgment of Government of India. Mr. Reddy is doing wonderful job in Telangana in the Southern Region. Today, we are developing entrepreneurs and it is very heartening that technology interlinked to mentor the people, that is the future of the country, because we have best human resources, best brains in the world. It is the right time in India to establish itself in the world.”
Though internet penetration has improved in areas where MSMEs are most prevalent in India, many of these businesses are still running in an informal manner without being registered, and thus cannot utilise the latest tech and software solutions that are being offered to registered MSMEs. Successful SMEs in developed markets and all over the world have adopted technology for higher productivity, better customer experiences and for scaling up their operations and presence, ensuring sustainable growth and profits. To bridge this lacuna in the Country's MSME sector and sensitise the segment, a national initiative 'Accelerating Business Using Technology', was launched by India SME Forum, with Hyderabad Chapter hosting the maiden lecture series, which will be followed by similar seminars across the country.
Speaking on the occasion Mr. Vinod Kumar, President, India SME Forum, stated, "The scale of digital transformation this country presents is tremendous and Greater digitization of MSMEs has the potential to triple the MSME sectors GDP contribution (from the current 8% share), heighten employment opportunities for India’s growing workforce and boost overall economic growth. India SME Forum is committed to take global best practices and solutions to all the progressive MSMEs of India and we are thankful for the support of the Ministry of MSME and Intel. We are starting our journey with Gujarat, knowing fully well that MSMEs here, are extremely open to implementing New technologies, Solutions and Tools for boosting profits and growth."
In a survey conducted by India SME Forum as part of its annual 'State of the MSME study' in 19 states, over 34% of the overall 1,29,537 MSME respondents are employing digital means of communicating with Employees, Customers and Suppliers whereas only 7% have fully embraced digital technology or SAAS Solutions. Over 50% of the MSMEs highlighted several benefits (increase in profitability, operational efficiency & improved customer engagement), however, 70% of the MSME respondents cited lack of knowledge as key barrier for wider adoption. Major causes for low technology adoption that have been cited by the MSME respondents in the survey are:
- Lack of understanding and guidance of business benefits, technology can deliver
- Resistance to incurring upfront investment-related costs to implement technology
- Lack of skilled/trained manpower to manage technology setups
Roshni Das, Director – Marketing, Intel India, asserts, “MSMEs are the backbone of the Indian economy and pivotal to driving future innovation and growth in the country. Intel is committed to working with the ecosystem to ensure education, technology access and support for these businesses. We’re excited to collaborate with the India SME Forum to digitally empower MSMEs in India, enabling greater productivity, efficiency, opportunity and business success.”
Hema Jain, President, India SME Forum, Telangana Chapter; which is hosting the “Accelerating Business Workshops for MSME, says – “MSME today is the catalyst for sustainable growth of economies and its entrepreneurs whose ventures that will find solutions to achieve the Sustainable Development Goals (UN SDGs) and I feel its time India as a progressing nation must embrace the growth of this enterprise and help develop an ecosystem for their sustained and inclusive growth. One major accelerating force that can take the SMEs to the next orbit of growth will be the technological adaption by them in all business activities, thus enhancing productivity and maximize returns and be the torchbearers for sustainable development of India. All government bodies, stakeholders and technology enabling platform will have to work in unison to ensure we move ahead on this aspect with great speed and thus the genesis of this program Accelerating Business Workshops for MSMEs.
The speakers including the renowned Branding & Marketing Guru, Mr C Chandra Shekhar Reddy, Director, NIMSME; Mr Ravinder Bhan, Trustee, India SME Forum; Mr Vinod Kumar, a Venture Funding, Financing & Branding expert at India SME and Ms Hema Jain, CEO, Crux Management Services & President, The India SME Forum - Telangana Chapter; enlightened the audience on the finer aspects to efficiently manage their enterprises using technology, enhancing their visibility by leveraging branding and the critical issues related to compliance, besides mentoring sessions. Over 300 MSME delegates from all over Telangana attended the seminar.
(With inputs from India SME Forum)