The Next Big Commitment For Business Inclusiveness
Micro, Small and Medium Enterprises (MSMEs) have played an imperative role in the economic activities of advanced industrialized countries like Great Britain Germany, Japan, and the United States of America. In developing countries like India, these industries or Enterprises have an enormous importance due to its high-level employment potential with low capital cost. MSMEs are also supporting in the industrialization of rural backward areas. This sector is also known as the nursery of entrepreneurship.
From last two decades, MSMEs has been growing at a satisfactory pace as per circumstances. However, these enterprises are facing different hurdles in overall growth and development. Government is outlining various policies and schemes for the growth of this sector but unfortunately failing to fulfil the objectives. An overall inclusive business environment is still a dream.
Confederation of Indian Micro, Small and Medium Enterprises (CIMSME) was founded in recent past by a group of young entrepreneurs; Confederation enables business owners to learn from each other, leading to greater business success and an enriched personal life. International Council of Technology, Management, and Applied Engineering is the parent global body of CIMSME.
CIMSME launched its flagship “MSME Connect” project which aims to educate entrepreneurs on solutions that are available to them, build their capacity to take advantage of these solutions and build their businesses to match their dreams. “MSME Connect” travelled across Gurugram, Bangalore, Chennai, Kolkata and Hyderabad; challenged next BIG Questions i.e Capacity to Compete, Change and Connect.
As per The International Trade Centre, competitiveness has been scored based on three pillars – Capacity to Compete, Change and Connect. The capacity to compete centers on operations and efficiency while the capacity to change depends on the ability of firms to evolve and innovate through investments in human and financial capital. The capacity to connect depends on how they streamline processes and communicate information and knowledge which is crucial for the digital economy and for services.
If you compare India to countries such as Argentina, Brazil Indonesia, Kenya, Malaysia, Mexico, Russia, South Africa, Thailand, Turkey, and Vietnam, on the three pillars of competitiveness, Argentina, Turkey, and China are leading the path. India’s performance is rated lower than average under two pillars — Compete and Connect. Comparatively, India fares better when it comes to the third pillar i.e. Change.
Micro, small and medium enterprises have emerged as the engine of economic growth and equitable distribution of national income. There is a need to eradicate all the stumbling blocks coming in the way of industrial development in the country like availability of low-cost finance, technology know-how, skilled manpower, inclusiveness, a culture of collaboration, best practices repository. Small-scale industrial sector of the country has an incredible potential of feeding thousands of unemployed educated youths if developed properly. An assist is a need from centre and state, to frame such policies and programmes through which the Micro, small and medium enterprises can be developed by leaps and bounds. With the growth of this sector unemployment level will diminish automatically, which is the primary goal of CIMSME.
Delaware, USA based global organization International Council of Technology, Management, and Applied Engineering Inc. (ICTMAE) is to bring together experts to share knowledge and develop voluntary, consensus-based, market-relevant International Standards, Best Practices repository that supports innovation and provides solutions to global challenges. Additionally, Centre of Excellence for Innovation Incubation and Entrepreneurship (CEIIE) is being rolled out across Bengaluru, Chennai and Hyderabad to be acknowledged as a program of international renown, where students, faculty, alumni, industry and policymakers collaborate, learn, innovate and build industry solution. Enrolment of Subject Matter Experts (SMEs), Industries and Industrial Association are in full swing, larger alliance with domestic and global research Institutions are being exercised; Blockchain enabled marketplace are being developed to support Indian farmers by forming Agriculture Consortium.
We are driven by the mantra of “Replacement of Competition with Collaboration”. We are exploring the association with various stakeholders; to serve the global communities of SMEs with a commitment to stay unique. Reach us – contact@ictmae.org
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