The summits are a series of on-ground events held across India to bring together local MSMEs, policymakers, enablers and industry stakeholders. The ET Make in India SME Regional Summit series aims to unravel opportunities, tackle challenges and foster knowledge-sharing and networking to propel the next phase of growth for Indian MSMEs.
In Jaipur, the summit began with an insightful keynote from Shilpi R Purohit, Joint Commissioner, Department of Industries & Commerce, Rajasthan. He talked in detail about the initiatives taken by the state government to boost MSMEs. “We are looking at how the government can work as a catalyst for the growth and development of MSMEs,” said Purohit.
He urged MSMEs to make use of the PMEGP Udyam registration programme and the Dr Bhimrao Ambedkar Dalit Adivasi Udyami Protsahan Yojana to develop their businesses.
Next was an engaging fireside chat that saw Rakesh Singh, MD & CEO, Aditya Birla Finance Limited (ABFL), speak on empowering MSMEs and driving financial inclusion. He also talked about ABFL’s vision for India’s growth.“Rajasthanis are naturally entrepreneurial. Sectors like renewables, tourism, carpets, leather, food processing, handicrafts, combined with a flourishing MSME ecosystem here, excites ABFL,” said Singh.
Besides this, he also raised the issue of inadequate access of credit to small businesses. “Almost 50% of the MSMEs in the country don’t have access to formal credit,” added Singh.
After Singh’s valuable insights, industry leaders and association heads came together for an engaging panel discussion on “Economic Diversity: How Rajasthan can Change its Fortunes”.
Pankaj Rao, Assistant Commissioner, Industries and Commerce Department, Rajasthan, said, “There is strong push from the government for MSMEs. If you see the latest investment schemes as well, there is focus on green and sustainability growth for MSMEs. We are also working for easy and seamless land availability for businesses.”
Kuldeep Singh Chandela, President of Federation of Hospitality and Tourism of Rajasthan, talked about the need to further develop tourism in the state. “New destinations in Rajasthan are very important. For leisure tourism, we want to develop other regions of Rajasthan as well.” He added that there was a need to improve interstate air and rail connectivity and infrastructure to boost tourism.
Raghushree Poddar, Chairperson, FICCI FLO, said, “FICCI is converting its neighbourhood local women into the heart of economic culture. Business mentorship can really make a big difference in turning a business idea into a commercial success.”
Arvind Gupta, President, Sitapura Gem and Jewellery Industry Association, said, “In FY23, from Rajasthan, Gems & Jewellery exports reached over Rs 9,500 crore and it rose to Rs 11,000 crore in FY24. Out of that, Rs 5000 crore, we did from our Sitapura area.”
KL Jain, President, Rajasthan Chamber of Commerce & Industry, said, “Rajasthan’s business policies are essentially pro-industry. However, for MSMEs, timely funding is the most challenging issue.”
ET OnlineThe industry leaders and association heads came together for an engaging panel discussion on “Economic Diversity: How Rajasthan can Change its Fortunes”.
The session was followed by another panel discussion on the topic “Funding: The Big Challenge for Small Businesses”. Neeta Boochra, designer, social entrepreneur, motivational speaker and celebrity columnist, and Pradeep Mehta, Secretary General, CUTS International, came together to discuss the foremost challenge of MSME funding.
Boochra talked about funding constraints, infrastructure and manpower retention as some of the key challenges that MSMEs face. Mehta talked about how competitiveness is hampered by smallness. “Small is beautiful, but when it comes to MSMEs, they require funding to get bigger, and that’s where they lag,” added Mehta. “Corruption in both PSBs and private banks poses a serious handicap for MSMEs seeking lending.”
The panel discussion was followed by a presentation by Shirish Mathur, Head SME Products & Digital Platforms, ABFL, on the Udyog Plus platform meant to support MSMEs. Thereafter, Yogesh Chaudhary, Director, Jaipur Rugs, joined the stage for an exclusive chat on “Art of Weaving: Is Carpet-Making Dying or Thriving in Jaipur?”
Chaudhary talked about how exporters from Jaipur are some of the best exporters around the globe. “Overall the ecosystem in Rajasthan in carpets is associated with high-end carpets,” he added.
Santanu Basu, Head SME Products & Digital Platforms, ABFL, talked about ABFL’s journey with India’s thriving SMEs. “We started 14 years back, we have developed a very good expertise to understand MSMEs. We have a physical presence across 50 branches and we keep looking for opportunities across the country,” said Basu.
This concluded the SME summit in Jaipur, serving as a key platform that offered networking opportunities to a range of small businesses as well as industry stalwarts.
For more details, visit ETSMESummits
