Branding important to promote MSMEs: experts

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SME Times News Bureau | 28 Jul, 2011
Branding is important to promote the micro, small and medium enterprise (MSME) sector in India, experts at the MSME Conclave organized by CII at Gurgaon said Wednesday.

"Despite contributing 8 percent to the country’s GDP and being a key player in social and economic development by providing employment to 60mn people through 26mn enterprises, the role of MSMEs is not visible due to weak marketing. It calls for an urgent need for brand building and reformulation of marketing strategies to enable MSMEs to position their products and services", said Mr Lalit Agarwal, Founder and MD of V Mart Retail Limited.

Speaking at the event, Additional Development Commissioner, Ministry of MSME Mr M P Singh said, "Often micro entrepreneurs have micro views about the growth. Not just the simple growth but also the scalable, sustainable and profitable growth of their venture. With increasing competition, the survival and growth of MSMEs critically depend on ability to identify new customers, develop a new product line, venture with another company in new markets."

Singh also threw light on various schemes and initiatives and apprising on the benefits.

According to Ms Swati Agarwal from CARE ratings, credit ratings is an effective tool to increase overall performance of an enterprise. She added that International best practices like Lean sigma, TQM, and TPM holds importance in the Indian business world and is a key factor in enhancing competitiveness of MSMEs.

Another expert Mr Harinder Jeet Singh, Principal Counsellor & Head CII–AVANTHA Centre for Competitiveness, emphasised that MSMEs understands the language of return on investments and cluster approaches are structured precisely in a manner which shows them point blank that they gain around 5-6 times, in terms of savings through improved practices like manufacturing excellence, cost management, energy efficiency and employee management.

Eminent speaker Mr. K G Alai CGM North zone office, SIDBI pitched for availing benefits from various programs already implemented and under implementation stage for MSMEs He also stressed on MSME to be energy efficient.

Mr Jyoti Prakash Gadia, MD Resurgent India ltd who is also a knowledge partner for the conclave brought the SWOT analysis of MSMEs up for discussion.

The CII conclave was with representation and experts from the Ministry of MSME, SIDBI, Rating Agencies, bankers, MSME entrepreneurs delved on the issues of financing, competitiveness, organizational strengthening, organic and inorganic growth.