Surat Hosts MSME Conclave Highlighting Funding and Sustainability

Surat : The Federation of Indian Chamber of Commerce and Industry – Confederation of Micro, Small and Medium Enterprises (FICCI-CMSME), and the Southern Gujarat Chamber of Commerce and Industry (SGCCI) came together to host the ‘Gujarat MSME Business Conclave 2022’ on Friday at Platinum Hall, Sarsana, Surat.

The president of SGCCI, Vijay Mewawala, extended a warm welcome to the participants at the conclave and delivered an opening address. He stated that Gujarat has been significant in the MSME sector. Small and medium enterprises play a crucial role in driving economic growth at both the state and national levels. The realization of our vision for India by 2047 hinges on the innovation and productivity of MSMEs. Gujarat’s MSME sector represents approximately 14 percent of the overall MSME contribution in India. In Gujarat, over 3.5 million MSMEs have been registered, and notably, when focusing on the region from Bharuch to Vapi, it becomes clear that half of the MSMEs in the entire state are located in South Gujarat.

Mewavala further stated that India is home to over 6.34 Crore MSMEs, which represent 30 percent of the nation’s total GDP and 48 percent of its total exports. In contrast, developed nations such as America, France, China, and the UK see MSMEs contributing between 65 percent and 70 percent to their overall GDP. This strongly suggests that the success of these nations is attributed to their MSMEs, therefore, it is essential for the Government of India and the Government of Gujarat to create policies aimed at the sustainable development of MSME industries.

FICCI – CMSME President Girish Luthra emphasized that small entrepreneurs should consider the potential of large industries. To achieve this, small business owners need to focus on building their teams. Similar to raw materials, there should be a boost in investment in human resources and a greater willingness to allocate funds for business ventures. Entrepreneurs must enhance their brand value and visibility to achieve growth. Entrepreneurs are encouraged to focus on strengthening their businesses. If entrepreneurs take individual initiatives, every small and medium enterprise will thrive. He informed the businessmen that offering higher wages than competitors will ensure employees remain with the company for the long term. He urged entrepreneurs to foster deeper emotional connections with their staff.

At the conclave, multiple sessions focused on diverse topics related to MSME, featuring insights from prominent industry figures. Notable speakers included Chetan Shah, the former president of the chamber and chairman and managing director of Solex Energy Limited; Sameep Suriya, CEO of Here Quality Excellence Pvt. Ltd.; Rahul Agarwal, director of Ernst & Young; and the co-founder of Trazix Software Pvt. Ltd., who all shared valuable information with the entrepreneurs of Surat. Experts emphasize the importance of fostering a culture of safety, embracing sustainability, and adopting new technologies within the MSME sector. Small entrepreneurs are encouraged to prioritize product quality and rigorous testing to enhance their competitiveness on the global stage.

Experts indicate that currently, pursuing business growth through conventional funding methods can pose challenges for the industry. Therefore, small business owners are encouraged to consider professional loans as a viable option for financing their growth. Experts provided insights on funding opportunities and equipment subsidies available for small business owners. Experts indicate that alongside urban regions, the potential for online shopping is also growing in rural areas. Consequently, over the next decade, the e-commerce sector is expected to emerge as a significant category.

Comprehensive insights were provided to the entrepreneurs regarding the entire procedure for launching an IPO.

A dedicated session took place to offer comprehensive insights on how small entrepreneurs in Surat can initiate an IPO, featuring presentations from Ernst & Young partners Hiren Bhatt and Jalpa Sonchhatra aimed at informing the local business community. Experts have indicated that following business growth and sustainability, industrialists ought to contemplate the introduction of an IPO. Prior to the company’s listing, it is essential to focus on the shareholding structure and its pattern. Comprehensive insights were provided regarding the various procedures involved in launching an IPO.

Following the inauguration ceremony of the conclave, a panel discussion took place focusing on Manufacturing Excellence: Make in India – Make for World, featuring Praveen Bhatt, Vice President and Head of Nuclear BU at Larsen & Toubro Limited. Dhruval Dholakia, the Entrepreneur of Shri Ramakrishna Exporters Pvt. Ltd., A.S. Sharma, the Corporate Head of Technical Services at Deepak Nitrite Limited, and Dr. Bhumi Rajguru, the Joint Director of NABL-Quality Council of India, took part as panelists and shared insights on the topic at hand.

In the afternoon, a panel discussion took place focusing on Innovative Financing and Funding for MSME Growth. The event featured Naresh Babuta, General Manager of the Ahmedabad Regional Office of the Small Industries Development Bank of India, Malav Desai, Co-Founder and CEO of Ratnafin Capital, and Dr. Jatin Nayak, Managing Director and CEO of The Surat People’s Co-operative Bank Limited, who shared valuable insights with the industrialists.

A panel discussion took place focusing on Digital Public Infrastructure and E-Commerce – Setting the stage for limitless Opportunities. The event featured Hiren Lathia, Co-Founder and CEO of Limbudi Fashion, Mr. Anurag Awasthi, Chief Manager of Government e-Marketplace (GeM), and Abhishek Passi, Director of EY, who shared insights with the traders.