Jan 17, 2022: NOIDA, UP, India: As per the Business confidence study conducted nationwide by MSME-focused digital lender Neo-Growth Credit Findings, an overwhelming majority of micro, small, and medium enterprises (MSMEs) in India expect their profits to increase in 2023. The Indian MSME sector is a nursery of entrepreneurship driven by individual creativity and innovation.
Prime Minister of India recently launched growth accelerator schemes like ‘Raising and Accelerating MSME Performance’ (RAMP), Capacity Building of First-Time Exporters (CBFTE), and new features of the Prime Minister Employment Generating Programme (PMEGP), giving impetus to growth.
Following the adoption of the revised definition of MSMEs based on investments in plant and machinery and equipment and turnover, a whopping 10 million online registrations have been received on the Udyam Registration Portal towards ‘Ease of Doing Business’.
Recently concluded India International Trade Fair 22 witnessed the encouraging participation of 73% of women entrepreneurs. An all-inclusive MSME Champions Scheme formulated with categories, namely MSME Sustainable, MSME Competitive, and MSME Innovative, is setting aspirations of India’s Small and Medium Businesses to be on a global roadmap.
“Handholding MSME entrepreneurs to leverage their expertise and translate the same to a wider audience empowers the business to leverage their true potential,” says Rachana Chowdhary, CEO of MVW-MSME Development Centre, the Editor & Publisher at IndiaTechnologyNews.in, an MSME focused Magazine.
In addition to the traditional financing schemes, an increasing community of family offices is looking to extend their support to MSMEs with promising solutions.
Sunrise sector: Electric Vehicles
As per the Fortune Business Insights Report, the Indian Electric Vehicle industry is estimated to grow to $113.9 billion by 2029. With a substantial shift in focus, India is shaping the next big dream of transforming with EVs.
Sunrise sector: Warehouse Business
CBRE reports for 2022 state over 32-34 million sq. ft of new warehouse spaces are expected to become operational. Investors are increasingly interested in warehousing and logistics, with logistics accounting for 20 percent of the deal volume. Industrial and warehousing space leasing is spread across eight major tier-I and tier-II cities spanning the booming e-commerce market.
Ravi Nandan Sinha, Director of Development and MSME Business Forum India, said, “The increasing contribution of the MSME sector towards creating India as a global business hub is genuinely remarkable. With Industry 4.0 knowledge and technology penetration, more MSME owners are fast-forwarding their digital evolution. With an actively increasing membership base, MSME Business Forum India is enabling its members with opportunities to progress and communicate.
Upcoming Opportunity Conclave 2023 in New Delhi will receive dignitaries from different genres to unleash the potential amongst the MSMEs. Interested Investors can join through the online link here.
Dr. Sindhu Bhaskar, Investor & New Age Technology Evangelist, Finance and Technology Expert, US, said, “For MSMEs to achieve high growth, the two most significant interventions required are related to credit assistance and technology upgradation. Banks and financial institutions should be more willing to discern genuine exporters and demand less collateral.”