Indian Small and Medium Enterprises (SMEs) play a pivotal role in the nation’s economy, contributing nearly half of the country’s exports and accounting for 29% of the GDP. Despite the impressive performance, these enterprises face numerous challenges, especially in the wake of the COVID-19 pandemic, which has significantly disrupted global trade dynamics. This article explores the opportunities and challenges faced by Indian SMEs in the export business, with a particular focus on the services sector and the implications of shifting global value chains (GVCs). The Contribution of Services to India’s…
Category: MSME
Embracing the Storm: Navigating the Seas of Change in 2024 for Small Businesses
As the tides of time continue to shift, Micro, Small, and Medium-sized enterprises (MSMEs) find themselves once again at the helm of uncertainty, navigating through the choppy waters of economic flux and technological revolution. Reflecting on the tumultuous journey of 2023, where MSMEs battled against economic headwinds and the ever-looming specter of geopolitical tensions, we now turn our gaze to the horizon of 2024. What challenges await these resilient captains of industry, and how can they chart a course towards prosperity in the face of adversity? 1. Artificial Intelligence: Sailing…
How ONDC is Poised to Take on and Transform the E-Commerce Landscape in India
The Open Network For Digital Commerce (ONDC) initiative is poised to bring about a transformative change in the e-commerce landscape of India. Considering how quickly online commerce has expanded and the increasing importance of the digital economy, ONDC aims to create a unified platform that revolutionizes how businesses operate, and consumers engage in online transactions. This article explores the various aspects of the ONDC initiative, including its objectives, potential benefits, and the impact it could have on the e-commerce industry in India. Background of the ONDC Initiative The ONDC initiative was launched…
MARKETPLACE MAGIC: THE RESILIENCE AND REVIVAL OF INDIA’S STREET VENDORS
Street vendors are one of the most marginalised, poor as well as vulnerable sectors of the urban informal labour market. While street vending is seen as a thriving business given its capacity to adapt to the changing demands of urban society, this category of self-employed persons is yet to receive legal legitimacy. Several factors contribute to this situation, the prime among them being access to formal credit. While it can be argued that financial inclusion and inclusive growth can together generate self-employment opportunities and alleviate poverty and unemployment, easy access…
“Export Strategies for MSMEs” Seminar Declared a Resounding Success
The “Export Strategies for MSMEs” seminar that concluded yesterday 31 October’23, proved to be a resounding success, leaving attendees with valuable insights and knowledge on how to excel in the world of exports. This informative event featured sessions by eminent subject matter experts, making it a great learning opportunity for aspiring exporters and established businesses alike. Organized by the MSME DFO, Bangalore in association with the FEDERATION OF INDIAN EXPORT ORGANISATIONS and various Export Promotion Councils like The Agricultural and Processed Food Products Export Development Authority (APEDA), Directorate General of Foreign Trade (DGFT), ECGC Limited and MSME Media…
SCALING UP SUSTAINABLE BUSINESSES: CHALLENGES AND OPPORTUNITIES FOR MSMEs
Examine the barriers and success factors in scaling up sustainable MSMEs in India, showcasing case studies and best practices for growth and impact. “In the world of business, big things often have small beginnings. MSMEs are the seeds that grow into mighty enterprises.” In recent years, MSMEs have witnessed drastic growth in the economic setup of India. They have allowed aspiring entrepreneurs to shape their ideas into reality. Notably, it takes work in a developing country like India to get investments and arrange adequate resources for establishing big corporations. In…
CHALLENGES FACED BY MSMEs IN PRODUCING AND DISTRIBUTING ORGANIC AGRICULTURE PRODUCTS
Small businesses play a crucial role in supporting the organic agriculture industry. Today, more people want to consume organic food products as these are considered healthy options since they are free from chemicals; plus, these are also considered to be environmentally friendly. The demand for these products is increasing. Therefore, there is a need to support organic agriculture. If organic farming is to grow and be undertaken in a sustainable manner, then there is a need for support from business teams in producing, packaging, and distributing organic agricultural produce. Several small-scale enterprises have…
FROM SURVIVING TO THRIVING: STRATEGIES FOR MSME GROWTH IN A POST-PANDEMIC WORLD
The COVID-19 pandemic has brought about unprecedented challenges for all sorts of businesses throughout the world. However, Micro, small, and medium enterprises (MSMEs) were the worst hit during the pandemic. Globally, MSMEs experienced a 35% average revenue decline during the height of the pandemic, resulting in business closures and job losses. However, these enterprises maintained their resilience and managed to survive the pandemic. These businesses, which frequently have limited resources and financial capabilities, have encountered supply chain disruptions, decreased consumer spending, and closures during the pandemic. It accounts for 48%…
MSME National Tech Conclave Concluded Successfully
The MSME National Tech Conclave has recently been concluded successfully on 2 March,’23, Bangalore, in presence of industry veterans, and thought leaders. Conceptualized and organised by MSME DFO, Bangalore. The conclave witnessed participation from over 35 industry segments along with more than 130 delegates. MSME National Tech Conclave was Co-organised by Small Enterprise India supported by Tally Solutions Pvt Ltd as a Technology partner, and Equitas Small Finance Bank as Associate Partner, the unique Tech forum brought together all the stakeholders across the industry on one platform to deliberate on trends, areas of growth and innovation, and…