“If your environmental sustainability is good, reporting is good, compliance is good, what you are doing actually is making yourself a strong competitor for exports, because the developed countries definitely are not going to buy from us if we are not compliant to the green norms,” said Bajpayee, at the 20th CII Global MSME Business Summit MSME 2023 on Thursday. The theme of the event was “Business Beyond Borders”.
While the government can streamline policies and make them simpler, it is the domestic companies that have to comply with these to make their businesses not only sustainable but also profitable in the long run, said Bajpayee.
“Covid has taught one lesson which we should remember: being a spectator is not a choice now; we have to come forward and not for anyone else, but for our own survival, the survival of the earth, the survival of the human beings,” said Bajpayee.
He also talked about how the agility to swiftly adopt eco-friendly practices via integration of green technologies, optimising resource usage, and embracing circular economy principles can aid MSMEs enhance their sustainability.
Meanwhile, the event focussed on the key issue of how MSMEs, which contribute 40% to exports, can address the challenges at the market entry level across regions. To amplify this success across the world, MSMEs have to understand the global market demand and compliances, experts said during the various sessions at the event.To grow, it is critical that collaborators from various segments such as industry and governance get together to create an optimal, conducive, and future-looking environment for MSMEs, said the experts.
