Hyderabad, September 28th, 2019 : The India SME Forum – India’s largest Small & Medium Business Movement, forayed into Hyderabad by hosting a seminar on ‘Accelerating Business Using Technology’ on Saturday at The Park Hotel. Chief Guest SK Joshi, Chief Secretary, Government of Telangana, formally launched The India SME Forum – Telangana Chapter, at the inaugural program. Eminent speakers including the renowned Branding & Marketing Guru, C Chandra Shekhar Reddy, Director, NIMSME; Ravinder Bhan, Trustee, India SME Forum; Vinod Kumar, a Venture Funding, Financing & Branding expert at India SME and 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.
Chief Guest SK Joshi said “In the country like India, people look towards traditional development for jobs, perhaps that is the reason in diversity of view of numbers, so best opportunity is to encourage entrepreneurs and nothing better that small and medium enterprises and congratulate the judgment of Government of India. 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 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 lacunae 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 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.