Good days beckon SMEs, says BNI head

Highlighting the significance of Small and Medium Enterprises (SMEs) to the Indian economy, a panel discussion was held on the topic in Hyderabad recently.

The event, organised by Business Network International (BNI) Hyderabad, had about 100 SMEs that participated in the discussion, which helped them to understand upcoming opportunities, new initiatives in various segments and challenges they might face in their businesses.

Speaking on the topic, Bharat Shah, Executive Director, BNI Hyderabad said, “The major advantages of SMEs are that they bring scalability, operational flexibility, locational mobility and efficiency. As per estimates, SMEs contribute over 38 per cent to the Nation’s GDP and has created over 10 crore jobs through 48 million units in India." “With the economy expected to move into fast track, the government’s will to bring about some key legislations and the policy makers’ emphasis on improving credit and fast track approvals, good days beckon for the SME sector,” enlightened Shah.

SMEs are taking up active role in many industries and infusing funds to establish great products and services. According to Devendra Surana, MD, Surana Group of companies, “The biggest plus point of SMEs on economy is that it is largest employer for unskilled and semiskilled labour. SMEs always lead in disruptive innovation.”

Other speakers included Sunil Daga, Director Enrich Investments, Viren Shah, Director, Scoops Ice Creams Pvt Ltd, Raghunath Akasam, Director, Akasam Consulting and Krishna Sagar Rao Corporate strategist and Author.