Small and Medium-sized Enterprises (SMEs) including startups and microenterprises, are the vital sector of Indian Economy. They are the driving force behind a large number of innovations and contribute to the national growth through employment generation, investments and exports. It is estimated that in terms of value, the MSME sector accounts for about 45 per cent of the manufacturing output and 40 per cent of the total exports of the country. The sector is estimated to employ about 595 lakh persons in over 261 lakh enterprises throughout the country. Further, this sector has consistently registered a higher growth rate than the rest of the industrial sector. It becomes imperative to give special attention for growth of MSMEs since they have the potential to provide highest wage employment for the labor force next only to agriculture but also provides goods and services at a lower cost.
MSME’s are at the cross – roads today considering the growing global competition and liberal imports as a result of FTAs (Free Trade Agreements) with various countries. In the present environment, it is tough being an MSME in India despite the fact that this sector contributes nearly half of the country’s industrial output and exports besides creating a large number of jobs. Lack of size hurts when it comes to getting funding, hiring talent or accessing markets. Starting a new business and scaling up a small business are challenging issues. Also, the inability of the MSME’s to organize themselves for collective bargaining continues to affect them when it comes to formulation of national economic policies.
Against this backdrop and maintaining our continuous focus on the development of the MSME sector, we do an annual event – India MSME 2015 Business Summit & Expo. The conference shall deliberate on the challenges and opportunities that await the MSME sector in India in the new emerging Global Order, both in the domestic and export front and how they need to build entrepreneurial skills for accessing markets, technologies and finances. The b2b expo will become a one-stop marketplace for products and services of SMEs and an educational forum for sharing, learning and discovering solutions for SMEs.