While some experts believe survival will remain the top priority for micro, small, and medium-sized businesses in 2023, others believe the year will be better, at least in terms of credit expansion. From what we've seen it has been a bumpy ride for MSMEs. In 2022 we got to see MSME concerns like low demand, shrinking margins, piling up inventories and most of all, rising interest rates. <br /><br /><br />In <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>, the MSME sector is mostly engaged in the service, manufacturing, processing, production and preservation of commodities. Considering that the almost 6 crore-plus MSMEs account for nearly 50% of all exports and nearly 30% of the country's GDP, it is clear that they are the foundation of the Indian economy.<br /><br /><br />In India, MSMEs are mostly located in rural and semi-urban areas and they help in maintaining the regional economic balance and the much-needed employment opportunities. Experts have also expressed that the growth of MSMEs is extremely crucial in fulfilling India’s target of becoming a $5 trillion economy by 2025.<br /><br /><br />MSMEs contribute to the preservation of the regional economic balance and the creation of desperately needed job opportunities. Experts have also stated that in order for India to reach its goal of having a $5 trillion economy by 2025, MSMEs' growth is absolutely essential.<br /><br /><br />The bad news is that access to financing has been and continues to be a major obstacle for SMEs to launch, maintain and expand their operations. To start and run their business initially, about half of formal SMEs rely on internal capital or cash from friends and family rather than formal credit from banking and other financial institutions. According to research, 131 million formal SMEs have unmet financial needs. And creating opportunities for SMEs is necessary to spur <keyword id="47276" type="General" weightage="20" keywordseo="economic-growth" source="Orion">economic growth</keyword> and end poverty in emerging nations.<br /><br /><br />The good news is that <keyword id="2403269" type="General" weightage="80" keywordseo="digital-financial-services" source="Orion">Digital Financial Services</keyword> (DFS), or the supply of financial products and services via digital channels, have become a crucial tool for helping small and medium-sized firms close the financing gap. These technological innovations serve as the foundation for the development of new business models and digital financial products, which include digital loans and other credit products, as well as equity capital. Digitisation has the potential to revolutionise MSME funding. The rising prevalence of mobile phones in developing nations is expanding the digital financial services that are available to MSMEs and advanced data analytics and digital financial products are assisting these largely unorganised businesses in establishing a credit history that will open the door to formal financing.<br /><br /><br />To top it off, informal organisations can now register, operate legally, and meet regulatory requirements for client identity and verification thanks to digital payroll systems and forms of identification. Additionally, internet platforms give business owners access to a variety of finance alternatives that they otherwise wouldn't have had.<br /><br /><br />The digital transformation of MSMEs also lowers transaction costs for the lenders and banks that serve them. The greater their digital footprint, the more MSMEs appeal to technology-focused SME lenders that can use data to decrease the costs related to loan origination and collection, thereby increasing the profitability of serving the MSME market. More traditional lenders like banks can also benefit from advances in analytic and processing capabilities, which fuel data-driven intelligence that can inform their initial decision-making and portfolio management.<br /><br /><br />That being said, the MSME community in India has grown by leaps and bounds and is slowly defining its route to recovery following the pandemic. While there are many factors that can be attributed to the government's policy initiatives and creative financing options, technology and the rise of social commerce have been the real game-changers, assisting them in resolving problems, finding new markets, managing regulatory compliances, and overcoming logistical difficulties to spur real business growth.<br /><br /><br />But there's a lot more to it than just digitisation. For more, ensure to tune into BI India's two-day <keyword id="4106334" type="General" weightage="80" keywordseo="msme-exchange" source="Orion">MSME Exchange</keyword> on January 18-19. We are back with the third edition of MSME Exchange – India’s leading <keyword id="15705192" type="General" weightage="20" keywordseo="MSME-Summit" source="Orion">MSME summit</keyword>, powered by our knowledge partners NASSCOM &amp; BSE SME Council. You will get to witness leading change-makers, regulators and experts discuss problems and potential solutions that will influence the MSME sector for decades to come.<br /><br /><br />[Register here: <a href="https://www.businessinsider.in/msme-exchange-2023">https://www.businessinsider.in/msme-exchange-2023</a> ]<br />

The key to eliminating the MSME finance gap in emerging markets

MSMEs lie at the heart of India Inc and play an integral part in our <keyword id="47276" type="General" weightage="20" keywordseo="economic-growth" source="Orion">economic growth</keyword>. In the recent few years, we have seen small businesses stay resilient in the face of a pandemic, thanks to the government’s policy push and initiatives. Over the last two decades, the government has come up with several regulatory measures to make it easier for these enterprises to not just grow but thrive. The <keyword id="6358354" type="General" weightage="20" keywordseo="msme" source="Orion">MSME</keyword>D Act of 2006 has been modified suitably in 2020 to take into account the changed market realities and the growing importance of these manufacturing and services companies. But there is no denying that technological progress, innovative financing solutions and the rise of social commerce have altered the MSME landscape.<br /><br />While the policy push has certainly helped the sector and its entities when it comes to innovative financing solutions for these entities, a real game changer has been technology and e-commerce platforms that have helped resolve many of the issues faced by these entities to discover new markets, deal with regulatory compliances and navigate logistics issues such that they can focus only on their business growth. India’s journey towards a five trillion economy is going to be powered by many small, micro and medium enterprises who now have the runway to take flight and big tech partners that are wind beneath their wings.<br /><br />At Business Insider India, we are back with the third edition of <keyword id="4106334" type="General" weightage="20" keywordseo="msme-exchange" source="Orion">MSME Exchange</keyword> – India’s leading MSME summit, powered by our knowledge partners NASSCOM &amp; BSE SME Council. Spread over two days in January (18-19), this summit aims to provide a platform for businesses, regulators, industry leaders, experts to come together and share ideas, explore critical issues and bring to light solutions that will transform the sector for the decades to come. <br /><br /><strong>[Register here: </strong><a href="https://www.businessinsider.in/msme-exchange-2023">https://www.businessinsider.in/msme-exchange-2023</a><strong>]</strong> <br /><br />Be it a story of a reseller on a social commerce platform or a seller on the world’s largest online retailer who built his export business from nothing, we seek to bring the stories of these small champions and shine the spotlight on all that has been done and needs to be done to achieve the government’s target of achieving $1 trillion in exports through India’s MSMEs. <br /><br />Core pillars that form the crux of this event – policy, finance, technology, social e-commerce and marketing – the fundamental need for any <keyword id="6359222" type="General" weightage="20" keywordseo="small-business" source="Orion">small business</keyword> to foster sustainable growth in the sector. The virtual event will be attended by policy makers, entrepreneurs, MSME champions, investors and business leaders.<br /><br /><strong>Speakers include:</strong><br /><ul><li>Rajnish Kumar, Former SBI Chairman</li><li>Ankur Warikoo, Educator &amp; Content Creator; Co-founder &amp; Board member, Nearbuy</li><li>Bharat Sethi, Founder &amp; CEO, Rage Coffee</li><li>T Koshy, CEO, ONDC</li><li>Anil Bhardwaj, Secy General, FISME</li><li>Ajay Thakur, Head - BSE SME &amp; Startups</li><li>Kishor Kharat, Former MD &amp; CEO at Indian Bank and IDBI Bank</li><li>Jinand Shah, MD, Online PSB Loans</li><li>Vipul Sharma, Founder &amp; CEO, Chqbook</li></ul><strong>Register here now to stay updated about the event details:</strong> <a href="https://www.businessinsider.in/msme-exchange-2023"><strong>https://www.businessinsider.in/msme-exchange-2023</strong></a>

Small businesses, big ideas: MSME Exchange is back with its third edition

<ul><li><cmsannotation type="cmsannotation" annotationid="about" comment="event_nav" text="About the Summit"><span data-til="noop">About the Summit</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="themes" comment="event_nav" text="Themes"><span data-til="noop">Themes</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="who_will_attend" comment="event_nav" text="Who will Attend"><span data-til="noop">Who will Attend</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="agenda" comment="event_nav" text="Agenda"><span data-til="noop">Agenda</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="why_attend" comment="event_nav" text="Why attend"><span data-til="noop">Why attend</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="videos" comment="event_nav" text="videos"><span data-til="noop">videos</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="contactus" comment="event_nav" text="Contact us"><span data-til="noop">Contact us</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="insights" comment="event_nav" text="Insights"><span data-til="noop">Insights</span></cmsannotation></li></ul><cmsannotation type="cmsannotation" annotationid="video" comment="top_panel" text="https://slike-i.akamaized.net/3q/m9/3n3qm9l66u/720p_1600.mp4"><span data-til="noop">https://slike-i.akamaized.net/3q/m9/3n3qm9l66u/720p_1600.mp4</span></cmsannotation><br /><cmsannotation type="cmsannotation" annotationid="About the Summit" comment="about_title" text="About the Summit"><span data-til="noop">About the Summit</span></cmsannotation><br /><cmsannotation type="cmsannotation" annotationid="Description" comment="about_desc" text="The collective might of the 6.3 crore Micro, small, and medium enterprises (MSMEs) can not be overstated. They are the load-bearing pillar of the Indian, and have steadily marked their path to recovery post the pandemic. While a lot can be attributed to the government’s policy push and innovative financing solutions, technology and digital transformation has also been a game-changer. Tech has helped MSMEs resolve issues, discover new markets, deal with regulatory compliances and navigate logistical challenges to drive meaningful business growth.India’s journey towards a five trillion economy is going to be powered by these engines of innovation!At Business Insider India, we seek to highlight not just the potential, but the need for renewed thinking to supercharge the country’s MSME sector. MSME Exchange aims to provide a platform for businesses, regulators, industry leaders, experts to come together and share ideas, talk about challenges and solutions that will transform the MSME sector for decades to come."><span data-til="noop">The collective might of the 6.3 crore Micro, small, and medium enterprises (MSMEs) can not be overstated. They are the load-bearing pillar of the Indian, and have steadily marked their path to recovery post the pandemic. While a lot can be attributed to the government’s policy push and innovative financing solutions, technology and digital transformation has also been a game-changer. Tech has helped MSMEs resolve issues, discover new markets, deal with regulatory compliances and navigate logistical challenges to drive meaningful business growth.<br />India’s journey towards a five trillion economy is going to be powered by these engines of innovation!<br />At Business Insider India, we seek to highlight not just the potential, but the need for renewed thinking to supercharge the country’s <keyword id="6358354" type="General" weightage="20" keywordseo="msme" source="Orion">MSME</keyword> sector. <keyword id="4106334" type="General" weightage="20" keywordseo="msme-exchange" source="Orion">MSME Exchange</keyword> aims to provide a platform for businesses, regulators, industry leaders, experts to come together and share ideas, talk about challenges and solutions that will transform the MSME sector for decades to come.</span></cmsannotation><br /><br /><cmsannotation type="cmsannotation" annotationid="who_all_attend" comment="wwa_title" text="Who will Attend"><span data-til="noop">Who will Attend</span></cmsannotation><br /><ol><li>                    <div type="image" title="MSME investors, venture capitalists, leaders from financial institutions, think tanks and consultants" msid="101167223" hostid="261"></div></li><li>                    <div type="image" title="Ministers, Government representatives, leaders from industry bodies" msid="101167231" hostid="261"></div></li><li>                    <div type="image" title="MSME champions &amp;amp; stars in the making - startups, innovators and entrepreneurs" msid="101167252" hostid="261"></div></li><li>                    <div type="image" title="Business leaders, owners and promoters across sectors" msid="101167300" hostid="261"></div></li></ol><cmsannotation type="cmsannotation" annotationid="themes" comment="themes_title" text="Themes"><span data-til="noop">Themes</span></cmsannotation><table class="redcator-table-advance"><tbody><tr><td>Policy</td><td>FOSTERING MSMES</td><td><ol><li>Building the right environment for MSMEs to thrive.</li><li>Deliberations on policy issues, and industry-first solutions.</li><li>Creating the ecosystem for entrepreneurship in the MSME space</li></ol></td></tr><tr><td>Finance</td><td>NEED FOR INNOVATIVE FINANCING</td><td><ol><li>Making capital affordable and accessible for MSMEs across the value chain</li><li>Direction for regulation to help strengthen MSME financing</li><li>Technology as an aid for improved financing</li></ol></td></tr><tr><td>Technology</td><td>BRAVING THE DIGITAL WORLD</td><td><ol><li>Is digital transformation the answer to challenges faced by small businesses?</li><li>SaaS and MSMEs - Using innovative business models to foster digital innovation</li><li>Hear from the best in business about tech solutions for empowering and building a competitive MSME landscape</li></ol></td></tr><tr><td>Marketing</td><td>BRAND BUILDING FOR SMES</td><td><ol><li>Omni-channel marketing for MSMEs and synergising online and offline brand building </li><li>Building customer loyalty through engagement. Adding a personal connection to marketing</li></ol></td></tr><tr><td>Social e-commerce</td><td>UNLOCKING MSMEs POTENTIAL</td><td><ol><li>From interaction to transaction - unlocking e-commece potential for Indian MSMEs</li><li>Sell and earn: Making e-commerce simple and easy for new entrepreneurs</li></ol></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>   <br /><div type="embedgroup"><title>Videos</title> <div type="Youtube" id="W-ZBi_vVA-g" title="Promoting MSME Growth And Ease Of Doing Business" thumbUrl="https://i.ytimg.com/vi/W-ZBi_vVA-g/mqdefault.jpg"></div><payload><![CDATA[videos_top]]></payload></div><div type="embedgroup"><title>Videos</title> <div type="Youtube" id="W3LmGX6rfCY" title="Innovative Financing For MSMEs" thumbUrl="https://i.ytimg.com/vi/W3LmGX6rfCY/mqdefault.jpg"></div> <div type="Youtube" id="R2Dkr8KoOew" title="Tech Solutions Solving For MSME Problems" thumbUrl="https://i.ytimg.com/vi/R2Dkr8KoOew/mqdefault.jpg"></div> <div type="Youtube" id="iZAUFoKjkPc" title="MSMEs: The Backbone Of Indian Economy" thumbUrl="https://i.ytimg.com/vi/iZAUFoKjkPc/mqdefault.jpg"></div> <div type="Youtube" id="X4YJlFWiWQI" title="Empowering Women-Led MSMEs" thumbUrl="https://i.ytimg.com/vi/X4YJlFWiWQI/mqdefault.jpg"></div> <div type="Youtube" id="tWROVASCMoI" title="Empowering Small Businesses (MSMEs &amp;amp;amp;amp; Sustainability)" thumbUrl="https://i.ytimg.com/vi/tWROVASCMoI/mqdefault.jpg"></div><payload><![CDATA[videos_list]]></payload></div><br /><div type="embedgroup"><title>Agenda</title> <div type="Article" hostid="261" msid="101167582" title="Day 1" rank="1.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="101454766" title="Day 2" rank="2.0" mstype="2" mssubtype="0"></div><payload><![CDATA[agenda]]></payload></div><br /><div type="embedgroup"><title>Why Attend</title> <div type="image" title="Understand the challenges and opportunities that prevail in the Indian MSME landscape" rank="1.0" mstype="3" mssubtype="0" msid="101159833" hostid="261"></div> <div type="image" title="Engage with expert speakers, industry captains, lenders, entrepreneurs and gain insights into their journeys and the road ahead" rank="2.0" mstype="3" mssubtype="0" msid="101159819" hostid="261"></div> <div type="image" title="Listen, learn from the brightest minds working to find real life solutions – the thinking that we need to supercharge the backbone of India’s economy - MSMEs" rank="3.0" mstype="3" mssubtype="0" msid="101159803" hostid="261"></div><payload><![CDATA[why_attend]]></payload></div><br /><bulletContentEmbed name="Contact us" columns="1"><bulletContentHeading name="Contact us_head"><columnHead col="1"><columnHeadThumb></columnHeadThumb><columnHeadTitle>Contact us</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="Contact us_body"><bulletContentRow name="Contact us_9517658605537691"><bulletContentRowHeading><bulletContentRowHead col="1">Become a Partner</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1"><strong>Maninder Kumar - Head, Brand Partnerships<br /></strong><a href="mailto:maninder@businessinsider.in"><strong>Maninder Kumar</strong></a></bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody><payload><![CDATA[contactus]]></payload></bulletContentEmbed><br /><div type="embedgroup"><title>Previous Edition Speakers</title> <div type="image" title="Sudarshan Chari" rank="1.0" mstype="3" mssubtype="0" msid="101215842" hostid="261"></div> <div type="image" title="Rahul Kothari" rank="2.0" mstype="3" mssubtype="0" msid="101215804" hostid="261"></div> <div type="image" title="Sameer Jain" rank="3.0" mstype="3" mssubtype="0" msid="101215759" hostid="261"></div> <div type="image" title="Ankur Warikoo" rank="4.0" mstype="3" mssubtype="0" msid="101215670" hostid="261"></div> <div type="image" title="T Koshy" rank="5.0" mstype="3" mssubtype="0" msid="101215630" hostid="261"></div> <div type="image" title="Rajnish Kumar" rank="6.0" mstype="3" mssubtype="0" msid="101215599" hostid="261"></div><payload><![CDATA[past_speakers]]></payload></div><br /><br /><div type="embedgroup"><title>Insights</title> <div type="Article" hostid="261" msid="96728596" title="The IPO momentum will continue in 2023 at least for small IPOs: Prime Database" rank="1.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="96618323" title="Small is the new big: SME IPOs double in 2022, while mainboard IPOs halve" rank="2.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="92055240" title="This startup has a solution for other startups suffering from funding slowdown" rank="3.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="92485293" title="MSMEs can aid waste management in India but need more hand holding" rank="4.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="93027479" title="Financial Institutions Turning Towards MSME Lending" rank="5.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="92598320" title="MSMEs run on promoter’s savings and need insurance as much as other businesses" rank="6.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="92848620" title="Fintechs are helping Indian MSMEs with their biggest challenge — data and the lack of it" rank="7.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="92994870" title="Aditya Birla group to spend ₹2,000 crore on an MSME e-commerce venture" rank="8.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="93138395" title="India’s newly digitized MSMEs need offline marketing as much as online" rank="9.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="93323188" title="This startup is building infrastructure to automate and ease the process of giving out small biz loans" rank="10.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="93457388" title="MSME credit demand jumps 60% from pre-pandemic levels – a sign of rebound in economic activity" rank="11.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="94304823" title="IIT Guwahati starts incubation centre to help its students turn entrepreneurs" rank="12.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="95780667" title="Over 50% of microbusinesses had no mechanisms to cushion Covid impact, Road to Recovery report says" rank="13.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="95142442" title="Women-led Kinara Capital raises Rs 200 cr to empower MSMEs in India" rank="14.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="95575042" title="Union Bank, Tata Power Renewable join hands to help MSMEs switch to solar" rank="15.0" mstype="2" mssubtype="0"></div><payload><![CDATA[insights]]></payload></div><br />

MSME Season 4

<ul><li><strong>The number of <keyword id="6358354" type="General" weightage="100" keywordseo="msme" source="Orion">MSME</keyword>s have gone down in 2021-22 compared to 2020-21 because a number of MSMEs have grown bigger and crossed the MSME threshold. <br /><br /></strong></li><li><strong>MSMEs across all sectors have shown strong resilience to bounce back post the pandemic-induced slowdown. <br /><br /></strong></li><li><strong>The <keyword id="4656676" type="General" weightage="80" keywordseo="udyam" source="Orion">Udyam</keyword> portal and the Emergency Credit Line Guarantee Scheme have helped MSMEs to weather the storm.</strong> <br /></li></ul>The micro, small and medium enterprises (MSME) sector is charting a new story post pandemic, with credit growth to MSMEs consistently higher – both on a year-on-year basis and also in comparison with larger industries, according to SBI Research. <br /><br />Incentives provided by the Emergency Credit Line Guarantee Scheme (ECLGS), coupled with lower gross non-performing asset (GNPA) ratios have helped in boosting credit to MSMEs, the SBI Research report said.<br /><br />Interestingly, the number of MSMEs have gone down in 2021-22 compared to 2020-21 because a number of MSME units have grown bigger and crossed the ₹250 crore turnover threshold that defines an MSME unit under the new definition, enforced in 2020. A company bigger than ₹250 crore is considered a mid-sized corporate firm.<br /><br />MSMEs have shown strong resilience to bounce back from the pandemic- induced slowdown seen in 2020. In some sectors that were not affected by the pandemic – like hospitality, construction, NBFCs, power, metals and so on, the credit outstanding as of March 2022 was almost 3x that seen in March 2018. <br /><br />There were sectors that were affected but have recovered from the pandemic – like edible oil, printing, consumer durables, pharmaceuticals, jute, aviation, etc, – with credit expansion for some of these in March 2021 lower than the March 2018 levels, but these have staged a smart recovery in March 2022, the report said. <br /><br />Some industries like mining, petrochemicals, cement, FMCG and others were deeply impacted by the pandemic but have almost recovered. <br /><br />A couple of initiatives from the Government of India may have helped MSMEs weather the storm and chart a strong growth story, according to SBI Research. <br /><br /><strong>Udyam portal: Turning informal micro enterprises formal <br /></strong><br />In July 2020, the Government of India launched <keyword id="15931646" type="General" weightage="50" keywordseo="udyam-assist-platform" source="Orion">Udyam Assist Platform</keyword> (UAP) to bring all the Informal Micro Enterprises (IMEs) – which constitute around 99% of the MSMEs in the country – into the formal ambit without complex and complicated paperwork. <br /><br />The UAP will enable IMEs who aren’t registered under GST to get a registration certificate based on information with Banks/NBFCs. The Udyam registration may also help MSMEs in availing the benefits of multiple schemes of the <keyword id="5713874" type="General" weightage="50" keywordseo="ministry-of-msmes" source="Orion">ministry of MSMEs</keyword> such as Credit Guarantee Scheme, Public Procurement Policy, additional edge in government tenders and protection against delayed payments by corporates, etc. <br /><br />The IMEs will also become eligible for priority-sector lending by banks, be able to get collateral-free loans from banks and also be able to get licences, approvals and registrations easily. <br /><br /><strong>ECLGS: A saviour during pandemic<br /></strong><br />The ECLG scheme acted as an enabler and helped MSMEs navigate the pandemic better. <br /><br />While at least 14.6 lakh MSMEs accounts were saved due to the ECLG scheme in absolute terms, MSME loan accounts worth ₹2.2 lakh crore improved since the inception of the ECLG scheme for the entire banking industry, as per SBI Research. This means that around 12% of the outstanding MSME credit has been saved from slipping into non-performing assets (NPAs) because of the ECLG scheme. <br /><br />Of the 14.6 lakh MSMEs accounts that were saved due to the ECLG scheme, almost 93.8% were in the <keyword id="16232960" type="General" weightage="50" keywordseo="micro-and-small" source="Orion">Micro and Small</keyword> category. If such units slipped into NPA, 1.65 crore workers would have become unemployed. <br /><br /><br />

MSME sector is on a strong growth trajectory post the pandemic: SBI Research

The process of the world's transition towards 'net-zero' needs to be inclusive to avoid accentuation of social inequality challenge and the 'exemplary progress' made by <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> in the area is worthwhile for the global community to look at, <keyword id="6357073" type="DOMAIN" weightage="20" keywordseo="itc" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="itc" meta.entityname="ITC Ltd." meta.entityid="13554" meta.seoname="itc-ltd">ITC</keyword> Chairman and Managing Director <keyword id="1968926" type="General" weightage="50" keywordseo="sanjiv-puri" source="Orion">Sanjiv Puri</keyword> said on Monday. In his address at the Business-20 (B20) India inception meeting in Gandhinagar, <keyword id="4903" type="General" weightage="100" keywordseo="puri" source="Orion">Puri</keyword> also called for collective efforts in the G-20 and global community to come together to find solutions in a collaborative fashion for a sustainable future. <br /><br />"The fact that the world has to transition to net-zero, the fact that the world needs to move to a more sustainable and greener future is well acknowledged and understood. However, as we all know, progress has not been adequate," Puri said at the meeting organised by <keyword id="6358345" type="General" weightage="50" keywordseo="cii" source="Orion">CII</keyword>. <br /><br /> There are challenges, there are critical, financial and social issues that need to be addressed, to accelerate progress, he added. <br /><br /> "It is important as we traverse this complex journey that the process is inclusive, no country, no community, no enterprise should be excluded in the process. Otherwise, the whole challenge of social inequality will only get accentuated," Puri cautioned. <br /><br /> In this context, he said,"I think it would be worthwhile to look at the manner in which India has made exemplary progress in this area. India is on its way to deliver on the NDCs (Nationally determined contributions) that India has committed. It's in fact the only country amongst the G-20 that is in a position to do so." <br /><br /> Whilst India has made appreciable progress through purposeful policy interventions, he said,"Equally it has recognised the need for an inclusive process. The focus on <keyword id="6358354" type="General" weightage="50" keywordseo="msme" source="Orion">MSME</keyword>, the focus on rescaling, upskilling, I think the whole India stack of digital provides the vehicles for collaboration and inclusive growth." <br /><br /> <keyword id="6357147" type="DOMAIN" weightage="20" keywordseo="tata-steel" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="tata steel" meta.entityname="Tata Steel Ltd." meta.entityid="12902" meta.seoname="tata-steel-ltd">Tata Steel</keyword> CEO and Managing Director TV Narendran agreed that there was a need to move towards a sustainable future by taking along all the stakeholders. <br /><br /> "There are millions of people who are working in the coal or the fossil fuel ecosystem. How do you, as you transition into renewable energies, rescale those workers or how do you make sure that you deal with the socio-economic consequences of the changes that we are bringing about particularly in developing countries where the socio-economic consequences are going to be immense," he said. <br /><br /> He asserted that there are multiple areas that "we need to work on and I think there is a need for us to now get into the details and get into those milestones that we need to achieve over the next few years, even as we chase the goals that you've set for the next few decades." <br /><br /> Puri termed the journey ahead as "complex" with focus on many areas needed and said,"it requires all of us collectively, in G-20 and the global community to come together and find solutions in a collaborative fashion while delivering our own promises." <br /><br /> He cited the example of collaboration in the <keyword id="3155010" type="General" weightage="50" keywordseo="international-solar-alliance" source="Orion">International Solar Alliance</keyword> and said it has brought the world together to harness the power of solar energy. "Similarly, there are many other areas we need to collaborate on and put our heads together and forge ahead," Puri said adding, enterprises as large economic organs of society must lead the way. <br /><br /> He further said,"We (enterprises) are also users of a lot of societal resources. It's good that there is greater amount of interest, better trust amongst corporates, but I think the movement needs to be made much faster, the movement needs to be made much more inclusive, much more widespread."<br /><br /><strong>SEE ALSO:<br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/b20-has-important-role-to-play-can-be-value-adding-for-world-says-n-chandrasekaran/articleshow/97244919.cms">B20 has important role to play; can be value adding for world, says N Chandrasekaran</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/gautam-adani-plans-to-launch-at-least-five-ipos-between-2026-to-2028/slidelist/97248256.cms">Gautam Adani plans to launch at least five IPOs between 2026 to 2028</a></strong><br />

Transition to net-zero should be inclusive to avoid accentuation of social inequality, says ITC CMD Puri

<ul><li><cmsannotation type="cmsannotation" annotationid="about" comment="event_nav" text="About"><span data-til="noop">About</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="themes" comment="event_nav" text="Themes"><span data-til="noop">Themes</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="who_will_attend" comment="event_nav" text="Who will Attend"><span data-til="noop">Who will Attend</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="agenda" comment="event_nav" text="Agenda"><span data-til="noop">Agenda</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="why_attend" comment="event_nav" text="Why Attend"><span data-til="noop">Why Attend</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="videos" comment="event_nav" text="Videos"><span data-til="noop">Videos</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="partners" comment="event_nav" text="Partners"><span data-til="noop">Partners</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="contactus" comment="event_nav" text="Contact us"><span data-til="noop">Contact us</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="insights" comment="event_nav" text="Insights"><span data-til="noop">Insights</span></cmsannotation></li></ul><cmsannotation type="cmsannotation" annotationid="video" comment="top_panel" text="https://slike-i.akamaized.net/3q/m9/3n3qm9l66u/720p_1600.mp4"><span data-til="noop">https://slike-i.akamaized.net/3q/m9/3n3qm9l66u/720p_1600.mp4</span></cmsannotation><br /><cmsannotation type="cmsannotation" annotationid="About the Summit" comment="about_title" text="About the Summit"><span data-til="noop">About the Summit</span></cmsannotation><br /><cmsannotation type="cmsannotation" annotationid="Description" comment="about_desc" text="Micro, small, and medium enterprises (MSMEs) are a critical cog of the Indian economy, and have steadily marked their path to recovery post-pandemic. While a lot can be attributed to the government’s policy push and innovative financing solutions, technology and the rise of social commerce has been the real game-changer – helping them resolve issues, discover new markets, deal with regulatory compliances and navigate logistical challenges to drive meaningful business growth.India’s journey towards a five trillion economy is going to be powered by these engines of innovation! At BI India, we seek to highlight not just the potential, but the need for renewed thinking to supercharge the country’s MSME sector. Spread over two days in January, MSME Exchange aims to provide a platform for businesses, regulators, industry leaders, experts to come together and share ideas, talk about challenges and solutions that will transform the MSME sector for decades to come."><span data-til="noop">Micro, small, and medium enterprises (MSMEs) are a critical cog of the Indian economy, and have steadily marked their path to recovery post-pandemic. While a lot can be attributed to the government’s policy push and innovative financing solutions, technology and the rise of social commerce has been the real game-changer – helping them resolve issues, discover new markets, deal with regulatory compliances and navigate logistical challenges to drive meaningful business growth.<br />India’s journey towards a five trillion economy is going to be powered by these engines of innovation! At BI India, we seek to highlight not just the potential, but the need for renewed thinking to supercharge the country’s <keyword id="6358354" type="General" weightage="20" keywordseo="MSME" source="Orion">MSME</keyword> sector. Spread over two days in January, <keyword id="4106334" type="General" weightage="100" keywordseo="msme-exchange" source="Orion">MSME Exchange</keyword> aims to provide a platform for businesses, regulators, industry leaders, experts to come together and share ideas, talk about challenges and solutions that will transform the MSME sector for decades to come.</span></cmsannotation><br /><br /><cmsannotation type="cmsannotation" annotationid="who_all_attend" comment="wwa_title" text="Who will attend"><span data-til="noop">Who will attend</span></cmsannotation><br /><ol><li>              <div type="image" title="Government ministers, industry bodies and policy makers, leaders from finance and tech institutions" msid="100847530" hostid="261"></div></li><li>            <div type="image" title="Business leaders, owners and promoters across MSME sectors" msid="100847513" hostid="261"></div></li><li>            <div type="image" title="MSME champions &amp;amp; stars in the making - startups, innovators and entrepreneurs" msid="100847589" hostid="261"></div></li><li>            <div type="image" title="MSME champions &amp;amp; stars in the making - startups, innovators and entrepreneurs" msid="100847655" hostid="261"></div><br /></li><li><div type="image" title="ABCD" msid="101166861" hostid="261" sizebytes="108450"></div></li></ol><cmsannotation type="cmsannotation" annotationid="Themes" comment="themes_title" text="Themes"><span data-til="noop">Themes</span></cmsannotation><br /><table class="redcator-table-advance"><tbody><tr><td>Policy</td><td>Fostering MSMEs</td><td><ol><li>Fostering MSMEs small businesses are the growth engine for India’s economy.</li><li>Recent policy measures have made it easier for these enterprises to not just grow, but thrive.</li><li>We shine the spotlight on the thinking for the next decade - what needs to be done to achieve government’s $5 trillions dream.</li></ol></td></tr><tr><td>Finance</td><td>Need for Innovative Financing</td><td><ol><li>Expensive access to capital remains a major challenge for MSMEs</li><li>How can small businesses overcome this hurdle?</li><li> We discuss initiatives and solutions to solve the most critical need of the sector - funding!</li></ol></td></tr><tr><td>Technology</td><td>Braving the digital world</td><td><ol><li>Is digital transformation the answer to challenges faced by small businesses?</li><li>How can MSMEs transform and grow more?</li><li>Hear from the best in business about tech solutions for empowering and building a competitive MSME landscape</li></ol></td></tr><tr><td>Marketing</td><td>Brand Building for SMEs</td><td><ol><li>Is digital transformation the answer to challenges faced by small businesses?</li><li>How can MSMEs transform and grow more?</li><li>Hear from the best in business about tech solutions for empowering and building a competitive MSME landscape</li></ol></td></tr><tr><td>Policy</td><td>Unlocking MSMEs Potential</td><td><ol><li>Is digital transformation the answer to challenges faced by small businesses?</li><li>How can MSMEs transform and grow more?</li><li>Hear from the best in business about tech solutions for empowering and building a competitive MSME landscape</li></ol></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><br /><div type="embedgroup"><title>Videos</title> <div type="Youtube" id="X4YJlFWiWQI" title="Empowering Women-Led MSMEs" thumbUrl="https://i.ytimg.com/vi/X4YJlFWiWQI/mqdefault.jpg"></div><payload><![CDATA[videos_top]]></payload></div><br /><div type="embedgroup"><title>Videos</title> <div type="Youtube" id="W-ZBi_vVA-g" title="Promoting MSME Growth And Ease Of Doing Business" thumbUrl="https://i.ytimg.com/vi/W-ZBi_vVA-g/mqdefault.jpg"></div> <div type="Youtube" id="7q1LidC8UcE" title="Beyond The BoardRoom with Anish Tawakley" thumbUrl="https://i.ytimg.com/vi/7q1LidC8UcE/mqdefault.jpg"></div> <div type="Youtube" id="tWROVASCMoI" title="Empowering Small Businesses (MSMEs &amp;amp;amp; Sustainability)" thumbUrl="https://i.ytimg.com/vi/tWROVASCMoI/mqdefault.jpg"></div> <div type="Youtube" id="R2Dkr8KoOew" title="Tech Solutions Solving For MSME Problems" thumbUrl="https://i.ytimg.com/vi/R2Dkr8KoOew/mqdefault.jpg"></div> <div type="Youtube" id="iZAUFoKjkPc" title="MSMEs: The Backbone Of Indian Economy" thumbUrl="https://i.ytimg.com/vi/iZAUFoKjkPc/mqdefault.jpg"></div> <div type="Youtube" id="X4YJlFWiWQI" title="Empowering Women-Led MSMEs" thumbUrl="https://i.ytimg.com/vi/X4YJlFWiWQI/mqdefault.jpg"></div><payload><![CDATA[videos_list]]></payload></div><br /><bulletContentEmbed name="Our Partners" columns="1"><bulletContentHeading name="Our Partners_head"><columnHead col="1"><columnHeadThumb></columnHeadThumb><columnHeadTitle>Our Partners</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="Our Partners_body"><bulletContentRow name="Our Partners_9112182092463035"><bulletContentRowHeading><bulletContentRowHead col="1">Community Partners</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1"><div type="image" title="NASSCOM" msid="100844386" hostid="261" caption="&amp;lt;p&amp;gt;&amp;lt;a href=&amp;quot;https://www.businessinsider.in/msme-exchange-2023&amp;quot;&amp;gt;NASSCOM&amp;lt;/a&amp;gt;&amp;lt;/p&amp;gt;"></div><br />                              <div type="image" title="BSE" msid="100844419" hostid="261" caption="&amp;lt;p&amp;gt;&amp;lt;a href=&amp;quot;https://www.bseindia.com/&amp;quot; target=&amp;quot;_blank&amp;quot;&amp;gt;BSE&amp;lt;/a&amp;gt;&amp;lt;/p&amp;gt;"></div><br />                              <div type="image" title="BNI" msid="100844462" hostid="261" caption="&amp;lt;p&amp;gt;&amp;lt;a href=&amp;quot;https://www.bni.com/&amp;quot; target=&amp;quot;_blank&amp;quot;&amp;gt;BNI&amp;lt;/a&amp;gt;&amp;lt;/p&amp;gt;"></div>                              <div type="image" title="Book My Show" msid="100844481" hostid="261" caption="&amp;lt;p&amp;gt;&amp;lt;a href=&amp;quot;https://in.bookmyshow.com/&amp;quot; target=&amp;quot;_blank&amp;quot;&amp;gt;BookMyShow&amp;lt;/a&amp;gt;&amp;lt;/p&amp;gt;"></div></bulletContentRowCell></bulletContentRowBody></bulletContentRow><bulletContentRow name="Our Partners_4392347801648051"><bulletContentRowHeading><bulletContentRowHead col="1">Knowledge Partners</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1"><div type="image" title="NASSCOM" msid="100844386" hostid="261" caption="&amp;lt;p&amp;gt;&amp;lt;a href=&amp;quot;https://www.businessinsider.in/msme-exchange-2023&amp;quot;&amp;gt;NASSCOM&amp;lt;/a&amp;gt;&amp;lt;/p&amp;gt;"></div><br />                              <div type="image" title="BSE" msid="100844419" hostid="261" caption="&amp;lt;p&amp;gt;&amp;lt;a href=&amp;quot;https://www.bseindia.com/&amp;quot; target=&amp;quot;_blank&amp;quot;&amp;gt;BSE&amp;lt;/a&amp;gt;&amp;lt;/p&amp;gt;"></div><br />                              <div type="image" title="BNI" msid="100844462" hostid="261" caption="&amp;lt;p&amp;gt;&amp;lt;a href=&amp;quot;https://www.bni.com/&amp;quot; target=&amp;quot;_blank&amp;quot;&amp;gt;BNI&amp;lt;/a&amp;gt;&amp;lt;/p&amp;gt;"></div>                              <div type="image" title="Book My Show" msid="100844481" hostid="261" caption="&amp;lt;p&amp;gt;&amp;lt;a href=&amp;quot;https://in.bookmyshow.com/&amp;quot; target=&amp;quot;_blank&amp;quot;&amp;gt;BookMyShow&amp;lt;/a&amp;gt;&amp;lt;/p&amp;gt;"></div></bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody><payload><![CDATA[partners]]></payload></bulletContentEmbed><br /><div type="embedgroup"><title>Agenda</title> <div type="Article" hostid="261" msid="100132907" title="Day 1, January 18, 2023" rank="1.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="100478979" title="Day 2,  January 19, 2023" rank="2.0" mstype="2" mssubtype="0"></div><payload><![CDATA[agenda]]></payload></div><br /><br /><div type="embedgroup"><title>Why Attend</title> <div type="image" title="Listen, learn from the brightest minds working to find real life solutions – the thinking that we need to supercharge the backbone of India’s economy - MSMEs" rank="1.0" mstype="3" mssubtype="0" msid="100154004" hostid="261"></div> <div type="image" title="Engage with expert speakers, industry captains, lenders, entrepreneurs and gain insights into their journeys and the road ahead" rank="2.0" mstype="3" mssubtype="0" msid="100153996" hostid="261"></div> <div type="image" title="Listen, learn from the brightest minds working to find real life solutions – the thinking that we need to supercharge the backbone of India’s economy - MSMEs" rank="3.0" mstype="3" mssubtype="0" msid="100153980" hostid="261"></div><payload><![CDATA[why_attend]]></payload></div><br /><br /><br /><br /><bulletContentEmbed name="Become a partner" columns="1"><bulletContentHeading name="Become a partner_head"><columnHead col="1"><columnHeadThumb></columnHeadThumb><columnHeadTitle>Contact Us</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="Become a partner_body"><bulletContentRow name="Become a partner_5009022282610344"><bulletContentRowHeading><bulletContentRowHead col="1">Become a Partner</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1"><strong>Maninder Kumar - Head, Brand Partnerships<br /></strong><a href="mailto:maninder@businessinsider.in"><strong>Maninder Kumar</strong></a></bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody><payload><![CDATA[contactus]]></payload></bulletContentEmbed><br /><div type="embedgroup"><title>Previous Edition Speakers</title> <div type="image" title="Anjali Byce" rank="1.0" mstype="3" mssubtype="0" msid="100270113" hostid="261"></div> <div type="image" title="Karan Virwani" rank="2.0" mstype="3" mssubtype="0" msid="100270087" hostid="261"></div> <div type="image" title="Anurag Malik" rank="3.0" mstype="3" mssubtype="0" msid="100269915" hostid="261"></div> <div type="image" title="Varun Duggirala" rank="4.0" mstype="3" mssubtype="0" msid="100269900" hostid="261"></div> <div type="image" title="Anjali Byce" rank="5.0" mstype="3" mssubtype="0" msid="100269887" hostid="261"></div> <div type="image" title="Karan Virwani" rank="6.0" mstype="3" mssubtype="0" msid="100269868" hostid="261"></div> <div type="image" title="Karishma Mehta" rank="7.0" mstype="3" mssubtype="0" msid="100269837" hostid="261"></div> <div type="image" title="Anurag Malik" rank="8.0" mstype="3" mssubtype="0" msid="100269570" hostid="261"></div> <div type="image" title="Dr Marcus Ranney" rank="9.0" mstype="3" mssubtype="0" msid="100269555" hostid="261"></div><payload><![CDATA[past_speakers]]></payload></div><br /><div type="embedgroup"><title>Insights</title> <div type="Slideshow" msid="100267652" hostid="261" title="Oppo F23 5G vs OnePlus Nord CE 3 Lite – which is a better phone under ₹25,000?" rank="1.0" mstype="8" mssubtype="0"></div> <div type="Slideshow" msid="74956107" hostid="261" title="100 online courses from Coursera are $0 now through May 31 - here&amp;#39;s a list of all the classes open for free enrollment" rank="2.0" mstype="8" mssubtype="0"></div> <div type="Article" hostid="261" msid="94960866" title="Maggi maker Nestlé India’s net profit grows 8.3% to ₹668 crore in Q2" rank="3.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="96956814" title="Nifty50 set to clock 10% increase in profit in Q3; banks likely to outperform" rank="4.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="100278747" title="IndianOil posts 69% drop in its standalone net profit for 2022-23" rank="5.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="70638299" title="Mukesh Ambani&amp;amp;#39;s speech at the Reliance Industries AGM had ten big takeaways" rank="6.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="100275046" title="Here’s a diesel variant that can not only save ₹1 lakh a year but can also help clean your engine" rank="7.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="100273939" title="Jio-bp joint venture launches additive-laced premium diesel" rank="8.0" mstype="2" mssubtype="0"></div><payload><![CDATA[insights]]></payload></div><br />

MSME Exchange 2023

<div type="embedgroup"><title>MSME Exchange 2021</title> <div type="image" title="Dr Marcus Ranney" rank="1.0" mstype="3" mssubtype="0" msid="100138432" hostid="261"></div> <div type="image" title="Anurag Malik" rank="2.0" mstype="3" mssubtype="0" msid="100138384" hostid="261"></div> <div type="image" title="Karishma Mehta" rank="3.0" mstype="3" mssubtype="0" msid="100138372" hostid="261"></div> <div type="image" title="Karan Virwani" rank="4.0" mstype="3" mssubtype="0" msid="100138364" hostid="261"></div> <div type="image" title="Varun Duggirala" rank="5.0" mstype="3" mssubtype="0" msid="100138330" hostid="261"></div> <div type="image" title="Anjali Byce" rank="6.0" mstype="3" mssubtype="0" msid="100138268" hostid="261"></div><payload><![CDATA[past_speakers]]></payload></div>

MSME Exchange 2021

<bulletContentEmbed name="KEYNOTE ADDRESS" columns="1"><bulletContentHeading name="KEYNOTE ADDRESS_head"><columnHead col="1"><columnHeadThumb><div type="image" title="100153996" msid="101454763" hostid="261" sizebytes="362444"></div></columnHeadThumb><columnHeadTitle>KEYNOTE ADDRESS</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="KEYNOTE ADDRESS_body"><bulletContentRow name="KEYNOTE ADDRESS_8383652185413475"><bulletContentRowHeading><bulletContentRowHead col="1">MSMEs: The backbone of Indian economy</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1"><strong>Procurement, exports and enterprises are three crucial pillars for fostering the growth of small and medium size businesses. How can MSMEs boost exports and what more does the government need to do to support this sector?</strong></bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed>

Day 2

<bulletContentEmbed name="INAUGURAL ADDRESS (POLICY)" columns="1"><bulletContentHeading name="INAUGURAL ADDRESS (POLICY)_head"><columnHead col="1"><columnHeadThumb><div type="image" title="100153980" msid="101167632" hostid="261" sizebytes="345127"></div></columnHeadThumb><columnHeadTitle>INAUGURAL ADDRESS (POLICY)</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="INAUGURAL ADDRESS (POLICY)_body"><bulletContentRow name="INAUGURAL ADDRESS (POLICY)_9886212833743733"><bulletContentRowHeading><bulletContentRowHead col="1">Promoting <keyword id="6358354" type="General" weightage="20" keywordseo="msme" source="Orion">MSME</keyword> growth &amp; ease of doing business</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1"><strong>Small businesses are the growth engine for India’s economy. We shine the spotlight on the policy push to foster ease of doing business by providing faster avenues of credit and schemes to support the MSME sector. And more importantly, the need for digitising the lending process to enhance the ecosystem and overcome challenges.</strong></bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed><br /><bulletContentEmbed name="KEYNOTE ADDRESS" columns="1"><bulletContentHeading name="KEYNOTE ADDRESS_head"><columnHead col="1"><columnHeadThumb><div type="image" title="100153980" msid="101167642" hostid="261" sizebytes="345127"></div></columnHeadThumb><columnHeadTitle>KEYNOTE ADDRESS</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="KEYNOTE ADDRESS_body"><bulletContentRow name="KEYNOTE ADDRESS_2649762537898081"><bulletContentRowHeading><bulletContentRowHead col="1">Fuelling MSME growth for $5 trillion economy</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1"><strong>India’s journey towards a five trillion economy is going to be powered by small and medium businesses – these engines of innovation. There is a collective need to ideate, innovate and create tools that will boost the MSME landscape for the next decade.</strong></bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed>

Day 1

<ul><li>Both online and traditional offline marketing tactics have to be used together to create an effective marketing strategy for MSMEs.</li><li>Preeti Ubale noted that MSMEs need immediate revenues and mass media mediums can offer them that much more easily.</li><li>While making marketing strategies, it is also important to define target audience and niche to develop brand awareness.</li></ul>While digital marketing may be important to keep up with the digital trends that have emerged post Covid-19 pandemic, it may not be all that micro, small and medium enterprises (MSMEs) need. <br /><br />According to a panel of speakers on Business Insider’s <a href="https://twitter.com/BiIndia/status/1549037167196131329">discussions around the need for digital marketing for MSME</a>s, both online and traditional offline marketing tactics have to be used to form smart hybrid brand awareness activities for these <keyword id="390673" type="General" weightage="20" keywordseo="small-businesses" source="Orion">small businesses</keyword>. <br /><br />Preeti Ubale, co-founder and COO of software company SMBXL, noted that MSMEs need immediate revenues and mass media like TV, radio, hoarding and pamphlets can offer them that much more easily. In comparison, digital marketing initiatives take time to show results unless they are paying a platform or marketplace. <br /><br />“The only thing used to fetch them immediate sales [was] having feet on the street, going and approaching their customers, talking to them, convincing them. So this was immediate sales and when it comes to digital, it is not immediate,” Ubale added. <br /><br />She noted that there is no specific formula for how to allocate funds for both these marketing initiatives, as it all depends on the stage a business is in. <br /><br />Meanwhile, Amoli Nagpal, head of e-commerce and SME segment at IT company Admitad Affiliate Network India, also emphasizes on a ‘healthy mix’ of online and online marketing initiatives if a small business has a target to increase return on investment (ROI) and transactions. But while making marketing strategies, it is also important to define target audience and niche to develop brand awareness.<br /><br />A business that caters to the needs of 20-30 year olds may do better if more funds are allocated to online campaigns. <br /><br />Covid-19 was one of the major factors that led to the aggressive digitization of India’s 6.3 crore <keyword id="6358354" type="General" weightage="20" keywordseo="msme" source="Orion">MSME</keyword>. All offline deals were shut and reaching out to the customers became extremely hard. Small businesses had no option but to rely on their digital tools and marketing tactics to make their presence felt. <br /><br />Five in ten (or about 53%) micro and small enterprises in India were using digital sales channels such as online aggregators, marketplaces, social media and mobile marketing by January 2021, a Crisil report based on a survey of 566 companies noted. The number was at three out of ten (or about 29%) pre-pandemic.<br /><br />Even Indian fintechs have jumped in to help this segment overcome their biggest challenge of access to capital. However, <a href="https://www.businessinsider.in/business/news/fintechs-are-helping-indian-msmes-get-over-their-biggest-challenges-but-there-is-still-a-long-way-to-go/articleshow/92848620.cms">lack of data continues to be a hurdle</a> for most fintechs that are trying to help and the solutions can only be fully utilized once that hurdle is crossed.<br /><br /><strong>SEE ALSO</strong><br /><a class="tout-title-link" href="https://www.businessinsider.in/business/corporates/news/it-is-attrition-rates-and-not-the-wage-hikes-dampening-indian-it-cos-earnings/articleshow/93120202.cms" style="">It is attrition rates and not the wage hikes dampening Indian IT cos earnings</a><br /><a href="https://www.businessinsider.in/stock-market/news/tata-steels-net-profit-declines-in-q1-on-the-back-of-rising-raw-material-costs/articleshow/93116879.cms" style="">Tata Steel’s net profit declines in Q1 on the back of rising raw material costs</a><br /><a href="https://www.businessinsider.in/business/startups/news/need-more-than-35-say-swiggy-workers-who-threaten-strike-against-new-policies/articleshow/93114671.cms" style="">Need more than ₹35 say Swiggy workers who threaten strike against new policies</a><br />

India’s newly digitized MSMEs need offline marketing as much as online

<ul><li>There are over 6.3 crore micro, small and medium enterprises (MSMEs) in India, majority of which are micro and small enterprises.</li><li>Majority of Indian MSME have a turnover of less than ₹40 lakhs, but do not have access to any kind of loan, CEO of Chqbook added.</li><li>The challenges in the assessment of requirement is one of the major reasons why the India MSME have been financially excluded.</li></ul>There are over 6.3 crore micro, small and medium enterprises (MSMEs) in India and most of them are facing one major problem — access to capital. Whether it is investment opportunities or credit facilities, Indian MSMEs have been largely financially excluded. <br /><br />Gaurav Shahlot, head of product at Khatabook, in a conversation with Business Insider India, noted that credit has been a challenge for the Indian MSMEs as they need small amounts of capital for a short period of time. “They also needed very, very frequently, whether it's for purchasing an inventory or financing an invoice,” he added. <br /><br />Vipul Sharma, founder and CEO of Chqbook, noted that a majority of Indian MSMEs have a turnover of less than ₹40 lakhs, which is also the segment that does not have to pay any Goods and Services Tax (GST). <br /><br />“That segment has done better... The access to credit is definitely a challenge,” he added, saying that less than two crore of the total six crore MSMEs have taken any loan. <br /><br />Even though the Reserve Bank of India (RBI) has made MSME into a priority lending sector, the lack of data on these small businesses hasn’t been helping. Yet, fintechs and digital businesses have been gearing up to lend to small businesses, who have been left out of the financial system for too long. <br /><br />Shahlot noted that the intervention of technology has created several touchpoints for MSMEs, making it easier to underwrite loans. He noted that it has also created a lot of different modes of credit lines such as distributor-to-retailer model where retailers are financed on the back of the purchases; Buy-Now-Pay-Later solutions where lenders are financing a purchase by directly paying the supplier and much more. <br /><br />Just like traditional lenders, even fintechs are facing similar challenges but have devised alternate ways to disburse these loans and credit lines.<br /><br /><cmsannotation type="cmsannotation" annotationid="But there must be some shortcomings to this as well" comment="subhead" text="But there must be some shortcomings to this as well"><span data-til="noop">But there must be some shortcomings to this as well</span></cmsannotation><br /><br />“The lenders also face certain challenges because the data and information, which is required for processing the credit lines or pretty facilities, is not easily available… It's not even authenticated. Because the operations [of these MSME] are such small level operations it becomes difficult for them [lenders] also,” Kishor Kharat, former MD and CEO of IDBI Bank and Indian Bank, said. <br /><br />He noted that the biggest challenge in the MSME lending has been the assessment of requirements. Some of these MSMEs operate on such a small scale that they have not been audited and sometimes it is even difficult to calculate their turnover. <br /><br />UPI and QR-based payments have made the assessment of turnover and requirement somewhat easier, but a fully computerized operation would be a “dream situation” for assessment of these requirements, Kharat added. <br /><br />While it is all good, the impact of fintechs is still on the surface. Kharat noted that fintechs are largely serving audiences in urban areas, and the MSMEs in the rural regions have still not been able to reap the benefits of these companies. He believes roughly 5-10% MSMEs must have benefited from the technology intervention. <br /><br />Loans amounting to ₹3.32 trillion have been sanctioned under the Emergency Credit Line Guarantee Scheme (ECLGS) till April 30, 2022. About ₹2.54 trillion had been disbursed.<br /><br />“Even though the Reserve Bank of India has stipulated this [MSMEs] under priority sector lending, banks find it difficult to lend to micro and small MSMEs [which makes up for roughly 95% of the industry] whereas medium category people get more credit support,” Kharat noted.<br /><strong><br />SEE ALSO</strong><br /><a href="https://www.businessinsider.in/business/startups/news/karan-virwani-kunal-shah-and-4-other-startup-ceos-invest-in-a-real-estate-venture/articleshow/92829944.cms">Karan Virwani, Kunal Shah and 4 other startup CEOs invest in a real estate venture</a><br /><a href="https://www.businessinsider.in/careers/news/mba-chai-wala-is-now-looking-to-hire-500-people-for-100-new-stores/articleshow/92828283.cms">From a small thela to 100 stores — MBA Chai Wala is now looking to hire 500 people for 100 more</a><br /><a href="https://www.businessinsider.in/business/corporates/news/cement-companies-are-girding-for-tougher-times-as-rising-fuel-costs-bite/articleshow/92822829.cms">Cement companies are girding for tougher times as rising fuel costs bite</a><br />

Fintechs are helping Indian MSMEs with their biggest challenge — data and the lack of it

The Reserve Bank of India (<keyword id="30067" type="General" weightage="20" keywordseo="rbi" source="Orion">RBI</keyword>) has embarked on a groundbreaking initiative aimed at transforming the landscape for Micro, Small, and Medium Enterprises (MSMEs) in the country.<br /><br />T Rabi Sankar, Deputy Governor of the RBI, unveiled the program, highlighting its potential to revolutionize credit access for MSMEs.<br /><br />The RBI has initiated a comprehensive program focused on evaluating the feasibility of a '<keyword id="18780192" type="General" weightage="20" keywordseo="public-tech" source="Orion">Public Tech</keyword> Platform for Frictionless Credit.'<br /><br />This pioneering endeavour seeks to streamline and enhance credit delivery by financial institutions, ultimately contributing to greater financial inclusion in India.<br /><br />Developed under the aegis of the Reserve Bank Innovation Hub (RBIH), the Public Tech Platform for Frictionless Credit is set to become an end-to-end digital solution with an open architecture, open application programming interfaces (APIs), and standardized protocols that all banks can seamlessly connect to in a "Plug and Play" model.<br /><br />The primary goal of this public tech platform is to simplify the credit appraisal process, making it more accessible and efficient for both lenders and borrowers. By consolidating all the necessary information in one place, this initiative aims to eliminate friction in the credit access journey for MSMEs.<br /><br />To achieve this seamless experience, the platform will integrate data from various sources, including central and state governments, Account Aggregators (AA), banks, credit information companies, and digital identity authorities.<br /><br />This integration is expected to significantly enhance access to credit for MSMEs by providing lenders with a holistic view of applicants' financial profiles.<br /><br />In his announcement, Deputy Governor T Rabi Sankar emphasized the importance of this initiative in driving financial inclusion and empowering the <keyword id="6358354" type="General" weightage="20" keywordseo="msme" source="Orion">MSME</keyword> sector.<br /><br />By simplifying the <keyword id="3698296" type="General" weightage="20" keywordseo="credit-application" source="Orion">credit application</keyword> process and ensuring that vital data is readily available, the RBI aims to make the credit assessment procedure faster and more accurate.<br /><br />The RBI's commitment to facilitating financial inclusion aligns with the broader goals of the Indian government and the <keyword id="6358156" type="General" weightage="20" keywordseo="central-bank" source="Orion">central bank</keyword> to support the growth and development of MSMEs, which are crucial drivers of the country's economic prosperity.<br /><br />The introduction of the Public Tech Platform for Frictionless Credit signifies a significant step toward creating a more robust and accessible credit ecosystem for MSMEs in India.<br /><br />It reflects the RBI's dedication to leveraging technology and innovation to empower businesses, promote financial inclusion, and foster economic growth.<br /><br />As this transformative program takes shape, it holds the potential to unlock new opportunities for MSMEs, enabling them to access the credit they need to expand, innovate, and thrive in an increasingly competitive landscape. <br />

RBI launches innovative program to revolutionize credit access for MSMEs

<ul><li>To empower <keyword id="338445" type="General" weightage="20" keywordseo="indian-businesses" source="Orion">Indian businesses</keyword>, creating tailored solutions that address the unique requirements of the local market, is crucial. <br /></li><li>To foster digital growth through India-first innovations, it is essential to cultivate robust ecosystems through public-private partnerships. <br /></li><li>For these businesses to thrive on digital platforms, it was vital to facilitate a seamless transition from the offline to the online world. <br /></li></ul>India has a staggering number of 63 million micro, small and medium enterprises or MSMEs. These emerging businesses hold the key to realising our ambitious vision of "Make in India; Made for the world”. Presently, they already contribute around 33% to our nation's GDP and are projected to make a remarkable USD 1 trillion contribution to India's total exports by 2028. However, despite their substantial impact, these budding businesses face numerous challenges on their path to success. This is where I strongly believe that <em>ease of doing business (EoDB) </em>goes far beyond just creating a favourable regulatory and credit ecosystem. To truly empower our MSMEs, we need to provide them the right education, initial business hand holding, and tailored solutions that address their diverse and unique needs of businesses. <br /><br /><strong>India: Land of unique opportunities<br /></strong><br />India is a large, fragmented, and heterogeneous market. Within the country, there are large —and often underestimated — regional differences in language, culture, talent, infrastructure, and wealth, all of which led to wide variations in business landscapes. Other than the well-documented differences in language and development, demographic differences are also significant. And like for the customers, providing personalised tools, programs and strategies is essential to ensure that emerging businesses from every part of the country have a democratised and equal selling experience.<br /><br />A decade ago, online selling was met with scepticism rather than enthusiasm. Sellers were at the early stages of their digital transformation journey and were hesitant to embrace internet-based selling or digital payment methods to expand their businesses. Gaining their trust required meeting sellers face-to-face and providing comprehensive assistance and reassurances. While online marketplaces had processes in place to recruit sellers, there was a clear need for a more personalised approach to cater to the specific needs of sellers. By establishing strong rapport, addressing concerns, and offering hands-on assistance, online marketplaces were able to foster trust and instil confidence in sellers about embracing digital selling. This approach bridged the gap between traditional sellers and online marketplaces, facilitating their digital transformation and expanding their businesses.<br /><br /><strong>Customised solutions for targeted issues<br /></strong><br />The local kirana stores found throughout Indian cities are not just ordinary markets. They are unique places that go beyond fulfilling our daily needs. These neighbourhood stores have become the heart and soul of their communities, catering to the diverse demands of the local population. Unlike large retail chains, they know their customers by name, understand their preferences, and often provide tailored recommendations. For these businesses to thrive on digital platforms, it was vital to facilitate a seamless transition from the offline to the online world. This included expanding the logistics network across India and ensuring efficient and timely delivery of goods. Indian innovations like Easy Ship and Seller flex helped bridge the gap between physical and digital realms through a robust logistics infrastructure. With this, kirana stores were empowered to tap into the vast opportunities presented by online platforms, allowing them to thrive in the digital landscape. <br /><br />To empower Indian businesses, creating tailored solutions that address the unique requirements of the local market, is crucial. India-first innovations can encompass various aspects, such as technology, infrastructure, and policies. Embracing digital solutions, such as mobile payment systems and e-commerce platforms, can help MSMEs expand their customer reach and streamline operations. By encouraging innovation, providing financial assistance, and facilitating market access, we can empower these businesses to succeed and contribute significantly to the Indian economy. <br /><br /><strong>Painting 'local' as the vibrant colour on the national and global canvas<br /></strong><br />Limited market access stands as a major obstacle for local <keyword id="6358354" type="General" weightage="20" keywordseo="msme" source="Orion">MSME</keyword>s aspiring to capture national and global markets. These MSMEs face various challenges, including low adoption of standards, logistical complexities, trade barriers, and insufficient market intelligence. Such hurdles hinder their competitiveness, as they struggle to gather timely and actionable market information. Unfortunately, only a handful of players in the Indian MSME sector possess the necessary visibility to navigate these challenges effectively. With focused programs like Amazon Karigar, Amazon Saheli and Local Shops, today local artisans and businesses are finding a seat on the table. These platforms have shifted needles for first-generation entrepreneurs and emerging brands, enabling them to enter and thrive in the global market. According to the data from the Directorate General of Commercial Intelligence &amp; Statistics shared by the minister of state for MSMEs in 2022, the share of MSME exports in the country’s total exports stood at a whopping 42.67 percent. With government’s support and recognition for such initiatives, it will become more commonplace for companies to build such support programs that handhold emerging businesses in their global journeys. <br /><br /><strong>Collaboration for ecosystem building<br /></strong><br />To foster digital growth through India-first innovations, it is essential to cultivate robust ecosystems through public-private partnerships. For example, recently Amazon signed an MoU with the Indian Council of Agricultural Research (ICAR), New Delhi to empower farmers by providing scientific cultivation guidance and enhancing their livelihoods. Amazon also signed an MoU with Rajasthan Grameen Aajeevika Vikas Parishad (RGAVP) last year —an autonomous society by the Government of Rajasthan—to support the growth of women artisans and self-help groups (SHGs) across the state. By forming such strategic alliances and networks, these innovations promote the sharing of knowledge, access to resources, and collective problem-solving. This collaborative approach strengthens the MSME ecosystem, providing businesses with the vital support and guidance needed to navigate the digital landscape with confidence. Partnership with state governments, industry bodies and other ecosystem enablers will ensure MSMEs benefit in the longer run. <br /><br />As I gaze into the horizon of possibilities, it becomes evident that our path forward lies in cultivating India-first, India-fit innovations. These transformative ideas will empower our MSMEs to soar new heights, embodying the vision of our honourable Prime Minister to create<em> an Aatmanirbhar Bharat</em>—a self-reliant India. <br /><br /><em>(The writer is the </em><em>director of selling partner services at Amazon India)</em><br />

The significance of India-first innovations to make future-ready MSMEs a reality

<bulletContentEmbed name="INAUGURAL ADDRESS (POLICY)" columns="1"><bulletContentHeading name="INAUGURAL ADDRESS (POLICY)_head"><columnHead col="1"><columnHeadThumb><div type="image" title="Agenda1" msid="100270754" hostid="261"></div></columnHeadThumb><columnHeadTitle>INAUGURAL ADDRESS (POLICY)</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="INAUGURAL ADDRESS (POLICY)_body"><bulletContentRow name="INAUGURAL ADDRESS (POLICY)_8067900943426201"><bulletContentRowHeading><bulletContentRowHead col="1">Promoting <keyword id="6358354" type="General" weightage="20" keywordseo="MSME" source="Orion">MSME</keyword> growth &amp; ease of doing business</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1"><strong>Small businesses are the growth engine for India’s economy. We shine the spotlight on the policy push to foster ease of doing business by providing faster avenues of credit and schemes to support the MSME sector. And more importantly, the need for digitising the lending process to enhance the ecosystem and overcome challenges.</strong><br /><br />    <div type="image" title="Varun Duggirala" msid="100270631" hostid="261" caption="&amp;lt;p&amp;gt;Influencer, Podcaster, Entrepreneur&amp;lt;/p&amp;gt;"></div><br />    <div type="image" title="Karan Virwani" msid="100270652" hostid="261" caption="&amp;lt;p&amp;gt;CEO&amp;lt;br&amp;gt;WeWork India&amp;lt;/p&amp;gt;"></div><br />    <div type="image" title="Anurag Malik" msid="100270689" hostid="261" caption="&amp;lt;p&amp;gt;National Leader&amp;lt;br&amp;gt;WAS, EY India&amp;lt;/p&amp;gt;"></div><br />    <div type="image" title="Anjali Byce" msid="100270731" hostid="261" caption="&amp;lt;p&amp;gt;CHRO&amp;lt;br&amp;gt;Sterlite Technologies&amp;lt;/p&amp;gt;"></div><br /><div type="image" title="Dr. Marcus Ranney" msid="100820352" hostid="261" sizebytes="390972" caption="&amp;lt;p&amp;gt;Author &amp;amp;amp; Founder&amp;lt;br&amp;gt;Human Edge&amp;lt;/p&amp;gt;&amp;lt;p&amp;gt;&amp;lt;span&amp;gt;&amp;lt;/span&amp;gt;&amp;lt;/p&amp;gt;"></div><br /></bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody><payload><![CDATA[04:30 - 04:40]]></payload></bulletContentEmbed><br /><br /><bulletContentEmbed name="KEYNOTE ADDRESS" columns="1"><bulletContentHeading name="KEYNOTE ADDRESS_head"><columnHead col="1"><columnHeadThumb>    <div type="image" title="Agenda2" msid="100270815" hostid="261"></div></columnHeadThumb><columnHeadTitle>KEYNOTE ADDRESS</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="KEYNOTE ADDRESS_body"><bulletContentRow name="KEYNOTE ADDRESS_0556630790449101"><bulletContentRowHeading><bulletContentRowHead col="1">Fuelling MSME growth for $5 trillion economy</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">India’s journey towards a five trillion economy is going to be powered by small and medium businesses – these engines of innovation. There is a collective need to ideate, innovate and create tools that will boost the MSME landscape for the next decade.<br /><br />      <div type="image" title="Karishma Mehta" msid="100270928" hostid="261" caption="&amp;lt;p&amp;gt;Founder&amp;lt;br&amp;gt;Humans of Bombay&amp;lt;/p&amp;gt;"></div></bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody><payload><![CDATA[04:40 - 04:50]]></payload></bulletContentEmbed><br />

Day 1,  January 18, 2023

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Reserve Bank of India has given its nod for the reverse <keyword id="42411" type="General" weightage="20" keywordseo="merger" source="Orion">merger</keyword> of <keyword id="6361420" type="General" weightage="20" keywordseo="idfc" source="Orion">IDFC</keyword> Ltd with its banking subsidiary <keyword id="7145428" type="General" weightage="20" keywordseo="idfc-first" source="Orion">IDFC First</keyword> Bank. The boards of IDFC First Bank and IDFC have approved the reverse merger in July. <br /><br /> "....IDFC Limited and IDFC Financial Holding Company (IDFC FHCL) have received letters dated December 26, 2023 from <keyword id="30067" type="General" weightage="20" keywordseo="rbi" source="Orion">RBI</keyword> whereby RBI has conveyed its 'No Objection' to the composite scheme of amalgamation, subject to compliance with the terms specified therein," IDFC Ltd said in a regulatory filing. <br /><br /> As part of the composite scheme of amalgamation, IDFC FHCL would first merge with IDFC and then IDFC into IDFC First Bank Ltd. <br /><br /> The scheme remains subject to other statutory and regulatory approvals, including from the National Company Law Tribunal and the respective shareholders and creditors of the companies involved under the applicable laws, it said. <br /><br /> Under the proposed reverse merger scheme, an IDFC <keyword id="6388677" type="General" weightage="20" keywordseo="shareholder" source="Orion">shareholder</keyword> will get 155 shares for every 100 shares she/he holds in the bank. Both stocks have a face value of Rs 10 each. <br /><br /> Post the merger, the standalone book value per share of the bank will increase by 4.9 per cent, as calculated on the audited financials as of March 2023, it said, adding that as of June 2023, IDFC through its non-financial holding company, owned 39.93 per cent in IDFC First Bank. <br /><br /> IDFC was an infra lender in the private sector space, and following its bigger peers like ICICI and IDBI, it also launched a banking subsidiary in 2015 -- IDFC Bank -- but could not make a mark as the other two could do. <br /><br /> Like HDFC Bank, the merged IDFC First Bank will also have no promoter entity, but fully owned by institutional and public shareholders. <br /><br /> IDFC began as an infra lender in 1997. It got in-principle approval from the RBI to set up a bank in April 2014, and in October 2015, it launched IDFC Bank when on-tap licensing began, following which loans and liabilities of IDFC were transferred to the bank. <br /><br /> In December 2018, it took over Capital First, a consumer and MSME-focused non-bank since 2012, and was renamed as IDFC First Bank and became a full-service universal bank.

RBI approves IDFC-IDFC First Bank merger

<bulletContentEmbed name="KEYNOTE ADDRESS" columns="1"><bulletContentHeading name="KEYNOTE ADDRESS_head"><columnHead col="1"><columnHeadThumb></columnHeadThumb><columnHeadTitle>KEYNOTE ADDRESS</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="KEYNOTE ADDRESS_body"><bulletContentRow name="KEYNOTE ADDRESS_0816379787827333"><bulletContentRowHeading><bulletContentRowHead col="1">MSMEs: The backbone of Indian economy</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1"><strong>Procurement, exports and enterprises are three crucial pillars for fostering the growth of small and medium size businesses. How can MSMEs boost exports and what more does the government need to do to support this sector?</strong><br /><br />          <div type="image" title="Anurag Malik" msid="100478932" hostid="261" caption="&amp;lt;p&amp;gt;National Leader&amp;lt;br&amp;gt;WAS, EY India&amp;lt;/p&amp;gt;"></div><br />          <div type="image" title="Anjali Byce" msid="100478944" hostid="261" caption="&amp;lt;p&amp;gt;CHRO&amp;lt;br&amp;gt;Sterlite Technologies&amp;lt;/p&amp;gt;"></div><br />          <div type="image" title="Dr Marcus Ranney" msid="100478992" hostid="261" caption="&amp;lt;p&amp;gt;Author &amp;amp;amp; Founder&amp;lt;br&amp;gt;Human Edge&amp;lt;/p&amp;gt;"></div><br />          <div type="image" title="Karan Virwani" msid="100479001" hostid="261" caption="&amp;lt;p&amp;gt;CEO&amp;lt;br&amp;gt;WeWork India&amp;lt;/p&amp;gt;"></div><br />          <div type="image" title="Varun Duggirala" msid="100479020" hostid="261" caption="&amp;lt;p&amp;gt;Influencer, Podcaster, Entrepreneur&amp;lt;/p&amp;gt;"></div></bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody><payload><![CDATA[04:30 - 04:40]]></payload></bulletContentEmbed>

Day 2,  January 19, 2023

<div type="embedgroup"><title>Knowledge Partners</title> <div type="image" title="NASSCOM" rank="1.0" mstype="3" mssubtype="0" msid="100138189" hostid="261" sizebytes="74677"></div> <div type="image" title="BSE" rank="2.0" mstype="3" mssubtype="0" msid="100138184" hostid="261" sizebytes="23992"></div></div>

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<cmsannotation type="cmsannotation" annotationid="themes" comment="white_heading" text="Themes"><span data-til="noop"><keyword id="782716" type="General" weightage="20" keywordseo="themes" source="Orion">Themes</keyword></span></cmsannotation><table class="redcator-table-advance"><tbody><tr><td>Policy</td><td>Policy</td><td>Policy</td><td>Policy</td><td>Policy</td></tr><tr><td>Fostering MSMEs</td><td>Fostering MSMEs</td><td>Fostering MSMEs</td><td>Fostering MSMEs</td><td>Fostering MSMEs</td></tr><tr><td>Fostering MSMEs small businesses are the growth engine for India’s economy.</td><td>Fostering MSMEs small businesses are the growth engine for India’s economy.</td><td>Fostering MSMEs small businesses are the growth engine for India’s economy.</td><td>Fostering MSMEs small businesses are the growth engine for India’s economy.</td><td>Fostering MSMEs small businesses are the growth engine for India’s economy.</td></tr><tr><td>Recent policy measures have made it easier for these enterprises to not just grow, but thrive.</td><td>Recent policy measures have made it easier for these enterprises to not just grow, but thrive.</td><td>Recent policy measures have made it easier for these enterprises to not just grow, but thrive.</td><td>Recent policy measures have made it easier for these enterprises to not just grow, but thrive.</td><td>Recent policy measures have made it easier for these enterprises to not just grow, but thrive.</td></tr><tr><td>We shine the spotlight on the thinking for the next decade - what needs to be done to achieve government’s $5 trillions dream.</td><td>We shine the spotlight on the thinking for the next decade - what needs to be done to achieve government’s $5 trillions dream.</td><td>We shine the spotlight on the thinking for the next decade - what needs to be done to achieve government’s $5 trillions dream.</td><td>We shine the spotlight on the thinking for the next decade - what needs to be done to achieve government’s $5 trillions dream.</td><td>We shine the spotlight on the thinking for the next decade - what needs to be done to achieve government’s $5 trillions dream.</td></tr></tbody><tbody></tbody></table>

You Searched For "msme" and got 20 results

The key to eliminating the MSME finance gap in emerging markets

BI India Bureau

Small businesses, big ideas: MSME Exchange is back with its third edition

BI India Bureau

MSME Season 4

MSME sector is on a strong growth trajectory post the pandemic: SBI Research

Anagh Pal

Transition to net-zero should be inclusive to avoid accentuation of social inequality, says ITC CMD Puri

PTI

MSME Exchange 2023

MSME Exchange 2021

Day 2

Day 1

India’s newly digitized MSMEs need offline marketing as much as online

Kritti Bhalla

Fintechs are helping Indian MSMEs with their biggest challenge — data and the lack of it

Kritti Bhalla

RBI launches innovative program to revolutionize credit access for MSMEs

ANI

The significance of India-first innovations to make future-ready MSMEs a reality

Amit Nanda

Day 1, January 18, 2023

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Business Insider India

RBI approves IDFC-IDFC First Bank merger

PTI

Day 2, January 19, 2023

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Business Insider India

Our Partners

Themes