Five Innovations to Witness At COVID19 Essential Expo India 2020

As several small and medium industries have been adversely impacted by the ongoing COVID-19 contagion in the country, the business community is roping in all efforts to stabilize the situation and rejuvenate the ailing economy. In a bid to transform the black swan COVID-19 pandemic into a lucrative business opportunity, TradeIndia, India’s largest B2B marketplace offering global buyers and sellers a reliable platform to identify trustworthy business partners, shall be organizing the country’s first virtual tradeshow titled, COVID-19 Essentials Expo India between August 5th-7th,2020 and will be conducted via the virtual medium.

The event will be targeted towards reviving the various SMEs and MSMEs of the country whose operations have been affected due to the COVID-19 pandemic. The tradeshow will feature 3D stalls or immersive virtual spaces that enable attendees to sift through the various product lineups, access business catalogs while interacting with exhibitors via chat or video conference.Featuring more than 60 booths and with an experience spanning over 20 years in online marketing space and event promotion, TradeIndia enjoys the largest industry database in the country that holds countless prospective visitors and investors for one’s brand. The essential range of products that will be central to the trade show are Surgical dressing and Disposable; Personal safety equipment; Personal care products; Common medicines and drugs; Temperature instruments; Medical, diagnostic & hospital supplies; Home cleaning appliances and more.

Here are 5 not to miss innovations to amaze you at the COVID19 Essential Expo India 2020:

JARVIS- Staqu Technologies Pvt. Ltd. - Utilizing the AI prowess, Staqu Technologies Pvt. Ltd. has developed a product, JARVIS that automates the whole process of monitoring the workplaces and ensuring that everybody is following these guidelines to minimize the spread of infections. JARVIS has proven to be one of the best Artificial Intelligence-based customizable Video Analytics Engine with state-of-the-art facial recognition technology and intelligent monitoring of objects, crowds, perimeters, and vehicles.This product utilizes, existing CCTV cameras and gives real-time alerts in case a person inside the premises is violating any of the norms. And the best part is that it doesn’t require any human interaction. JARVIS can help you with: Face Mask Identification, Social Distancing Check, Fever Identification (FR), Contact tracing, Hygiene Check, Video Wall with Real-Time Alerts, and more. 

UV and Delivery Disinfection Robots-  Janyu Technologies Pvt. Ltd.

UV disinfection technologies can play a role in a multiple barrier approach to reduce the transmission of the virus causing COVID-19, SARS-CoV-2. UV Disinfection Trolley can effectively clean up hospital spaces to combat COVID-19. The UV-C irradiation with a peak intensity at 254 nm has been a proven technology for disinfecting air, water, and instruments for over a century. UV-C JUGNU from JanyuTech is powered by UV-C lamps. UV-C JUGNU has a WiFi connection with a camera to get live Audio-Visuals of the path to the control station and interact along with the travel, announcing various messages. The Robot has a power selection option to increase the intensity of the UV system. Obstruction sensing is provided at the front and back for effective driving.

Testing Kits, Ivermectin Products, Antibacterial Soaps - Safecon Lifesciences - Based in excise free zone in Uttarakhand, Safecon Lifesciences is engaged in researching, manufacturing, and marketing all types of Injection, Bolus, internal & external Liquid, Powders, external powders & Shampoo for pets, etc. Their range of Medicare products is highly demanded in various government hospitals, private hospitals, dispensaries, etc. The Ivermectin salt and tablets are the Ivermectin products that customers can buy from them. These are prescribed for the treatment of parasitic infections of eyes, skin, and intestinal tract. The brand has also launched testing kits which are quite efficient to use.  Products like Corosafe soap is an antibacterial soap developed and supplied by our company. Everyone can use this soap just like normal bath soap to fight germs and body odor. Safecon Lifesciences has marked its prominence in Indian markets, by providing top-notch quality of products. 

N-95 and 3Ply Mask Making Machines-   BFW Kothari Group BFW was born in 1961 to realize the dream of a young economy that was on the cusp of industrialization. Ever since they have been at the heart of manufacturing. They have supported the growth of the Indian industry by creating the machine tools vital for industries, across verticals - from plastic buckets to aerospace projects.The N-95 and the 3 Ply Mask Making Machines are fully automatic, UV sterilized, and high speed. BFW developed High-Quality Automatic Mask Making Machines for high volume production of high-quality masks under the BFW Health product platform. Developed in Made-In-India Technology. These innovative products invented for the healthcare ecosystem in true spirit and full support of 'Aatma nirbhar Bharat'.

100% Cotton coverall with antimicrobial- Kinsey Knitt International  - Kinsey Knitt International’s 100% cotton washable reusable coverall is made out of coconut technology. The fabric is treated with Antimicrobial to fight against Virus, Bacteria, Fungus, Mould, and Dustmite. The coverall is treated with Splashproof technology so blood and other liquid particles can not penetrate in. This kit contains 10 components to safeguard the Covid-19 warriors with three things kept in mind.  Safety - treated with safe antimicrobial ; Comfort - Cotton gives comfort and Eco-friendly - A bio-degradable product. The antimicrobial we use in this Coverall is a semi-organic, food-grade, biodegradable product that kills the virus by its mechanical action. This doesn’t only filter the virus but it kills the virus which comes in contact. The virus killing time is less than a minute. And it has a virus killing efficiency of more than  99.95%. This Kit contains washable and reusable Masks, Goggles, face shield, Hand gloves, socks, shoe cover, hand towel, and a cotton antimicrobial treated bag to carry the worn products back. This coverall can be washed and reused up to 20 times.

MYPINPAD Expands Global Presence Through Partnersip with Mswipe and Visa in Indian Market

Global secure personal authentication expert joins forces with Mswipe - India’s leading independent financial services platform for SMEs and merchants, and Visa – the world’s leader in digital payments

MYPINPAD, the global leader in secure personal authentication solutions today announces new strategic partnerships with Mswipe, India's largest independent mobile POS merchant acquirer and network provider, and the world’s leader in digital payments, Visa, to propel contactless payments in India.

The announcement follows MYPINPAD becoming the first, and currently only company in the world to achieve Payment Card Industry (PCI) Security Standards Council (SSC) certification for its software only Contactless Payments on Commercial off-the-shelf (CPoC) solution. 

This is an especially important market for MYPINPAD, given that tap-to-pay or contactless card payments in the Indian market are in hypergrowth, led by Visa with over 30mn contactless cards issued.

Mswipe is at the forefront of driving tech innovations that enable micro, small and medium Enterprises (MSMEs), and merchants to accept payments through cards, wallets, mobile payment apps and bank apps, contactless and QR payments.  With over 675,000 POS and 1.1 million QR merchants, it is the largest independent mobile POS acquirer and network provider in India.

The global impact of the COVID-19 pandemic has fuelled the need for contactless transactions, with Visa recently announcing a commitment to support 10 million small businesses across Asia Pacific. The pledge is part of a global program that sees Visa supporting 50 million small businesses worldwide. As part of the commitment, the company is introducing a range of programs and solutions to help small and medium enterprises (SMEs) drive efficiency and sales by accepting and making digital payments to meet increased demand for cashless payments – both online and in-store.  

CEO of MYPINPAD, Colin Greene, commented: “MYPINPAD makes it easy and affordable for merchants to become a part of digital acceptance and the payments ecosystem. Mswipe has spearheaded technology innovation in digital acceptance and payments for small and medium businesses in India. This important milestone, following our recent world-first PCI SSC CPoC certification, is another huge step for the industry in simplifying digital acceptance for the smallest of businesses to the larger retailers.”

CEO of Mswipe, Manish Patel adds: “What we plan to achieve alongside MYPINPAD will be incredibly significant for consumers, merchants and India in its entirety. The company’s technology will enable true democratisation of payments and accelerate the contactless revolution in India, which will result in huge socioeconomic benefits. We look forward to deploying the solution, and where the partnership will take us in the future.”

Shailesh Paul, Head, Merchant Sales & Acquiring and Cybersource, India & South Asia, Visa said:

“Consumer preference for tap to pay or contactless payments offers a transformational opportunity for our collaboration with MYPINPAD and Mswipe. By empowering small merchants to use their mobile phones to accept tap to pay digital payments and without the need to invest in a standalone terminal, this solution should truly help propel digital payments far and wide across India.”  

MYPINPAD’s solution is easily integrated into third party applications and delivered ‘As-a-Service’. It significantly reduces cost across the entire face-to-face payment ecosystem by meeting PCI security standards through software updates alone. This relieves pain-points such as the cost of traditional payment and POS hardware for the smallest retailers, while also serving larger retailers by significantly reducing maintenance, replacement costs of aging hardware-centric POS systems and ultimately providing stronger customer service with trusted and familiar devices.

About MYPINPAD:

MYPINPAD is the global leader in secure personal authentication solutions residing on commercially available smartphones and tablets. Our proprietary and globally patented technology secures and protects the input of sensitive information on touchscreens creating a trusted environment. MYPINPAD’s innovative solution set removes the reliance on specialised hardware for personal authentication; reduces cost and complexity, promotes rapid adoption and leverages the connected capabilities of smart devices. 

About Visa Inc.

Visa Inc. is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce.

51.4% of MSMEs Assessed were First Time Borrowers, Says NeoGrowth Research

An exhaustive study by NeoGrowth Credit on a base of over 17,000 MSMEs across cities including Mumbai, Delhi NCR, Hyderabad, Pune, Bengaluru, Lucknow, and Ahmedabad, revealed some interesting insights about the MSME industry.

Credit bureau scores have been traditionally used as a report card of one's credit history and repayment behavior. The lack of sufficient credit history or no credit history usually makes it difficult for the borrower to get loan approvals. According to NeoGrowth Research, over 51.4% of the MSMEs assessed were first-time borrowers

According to the Sixth Economic Census released by the Ministry of Statistics and Programme Implementation in 2018, womenconstitute around 14% of the total entrepreneur base in India i.e. 8.05 million out of the total 58.5 million entrepreneurs.  10.8% of the total disbursements of the 17,000 MSMEs assessed for FY2019-20 were towards businesses that were run by women either as sole proprietors, partners, or directors.

The entrepreneurial ecosystem in India has been conventionally led by experienced players that have been reigning in their respective markets for generations. While first generation entrepreneurs are finally emerging in the scenario, they are starved of growth opportunities majorly due to a lack of credit. NeoGrowth Research establishes that about 77.6% of the MSMEs assessed were revealed to be first-generation entrepreneurs.

With digital connectivity growing rapidly and emergence of smart cities, Tier-2 and Tier-3 cities are the new business hubs, employment centres and consumer markets of the country. About 19% of the MSMEs assessed in the study, were originating from Tier-2 cities.

The Indian Government considers MSMEs and entrepreneurship as key to driving economic growth, innovation, job creation and social upliftment across the nation. By generating 120 million employment opportunities, MSMEs boast of being the second largest job creators in the country. As per the study, 28% of the MSMEs assessed showed an increase in the number of their employees’ post availing a business loan.

These insights form part of an annual assessment conducted by NeoGrowth. Over these years, NeoGrowth the company has successfully maintained its unique product proposition by providing collateral free, short-term, quick, and customized business loans on flexible repayment terms. Having disbursed loans amounting to more than INR 5,500 crores, NeoGrowth has been funding and enabling MSMEs to grow and sustain their businesses while continuing to tread on its initial journey of achieving inclusive growth.

Mr. Dhruv Khaitan, Founder and Chairman, NeoGrowth said, “We are happy to share our Sixth Social Impact Report, an annual effort to engage with our key stakeholders – MSMEs, to understand their financial needs, challenges faced by them and assess the impact of lending activities on their lives. At NeoGrowth, we have always focused on creating strong positive social impact on MSMEs by lending to first generation entrepreneurs, assisting women entrepreneurs and enabling our customers in job creation and improvement of credit scores via our loans.”

NeoGrowth Research is the in-house research team of NeoGrowth that keeps a continuous track on the emerging trends in the payments, fintech and MSME sectors and publishes insights.

Zendesk Commended by Frost & Sullivan for Its Customer-focused Sales Force Automation Solution

Based on its recent analysis of the North American small and mid-sized business (SMB) mobile worker apps market, Frost & Sullivan recognizes Zendesk with the 2020 North American Product Leadership Award for its Sell sales force automation (SFA) solution. The solution stands out for its ease of use, affordable pricing, creative bundling, ongoing support, and emphasis on the customer experience.

“Zendesk Sell is tailored to the needs of SMBs and offers a tiered selection of capabilities. Unlike legacy sales management tools, it supports an omnichannel strategy; provides an easy-to-use, mobile-first experience; and prioritizes integration with both internal company systems and external services,” said Jeanine Sterling, Frost & Sullivan Industry Director. “Significantly, Zendesk is able to leverage the product usage data from over 40,000 Zendesk customers and combine it with information from its Zendesk Customer Experience Trends Report for well-rounded insights regarding customer needs.”

Zendesk Sell is available as a standalone offering and as a part of a competitively priced bundle called the Sales Suite. This bundle includes the Zendesk Sell, Chat, Reach, and Voice, which are core tools used by sales representatives to prospect, communicate, and sell. Zendesk Sell is available in a cloud-based as-a-service format, and its subscription pricing model makes it affordable to smaller businesses and allows customers to scale the solution easily.

The company is looking to make the most of its rising brand awareness with creative go-to-market strategies that target existing Zendesk users that need SFA software and value the integration of Sell with other Zendesk products and that target new prospects that are searching for SFA software that is powerful yet easy to use and affordable. These two strategies can potentially tap customer segments that are new to SFA and either seeking to upgrade to a more advanced SFA or replace a legacy or homegrown product.

“The SMB mobile worker applications sector is expected to continue growing, and mobilized SFA solutions, such as Sell, will be key contributors to this trend. The company also continues to forge technology and reseller partnerships, thereby building an ecosystem of apps and alternate channels that open up new global markets,” noted Sterling. “As Zendesk expands into the enterprise sector, its Sell offering and tiered plans will continue to offer SMBs flexibility, scalability, integrations, and the capabilities that smaller businesses need to succeed.”

Each year, Frost & Sullivan presents this award to the company that has developed a product with innovative features and functionality that is gaining rapid market acceptance. The award recognizes the quality of the solution and the customer value enhancements it enables.

Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.

IMTMA Supports Indian Machine Tools for MSME Tool Rooms

Recently, the Ministry of Micro, Small and Medium Enterprises (MSME) with a view to modernize Tools Rooms and Training Centers had floated a tender with the assistance of the World Bank to acquire CNC Machines, Measuring Instruments and Accessories. 

Indian machine tool manufacturers had bid for this tender. However, none of the Indian machines offered were selected due to some minor deviations from the tender specifications, while international vendors were selected.

In this context, IMTMA is working closely with the Ministry of MSME and other government departments requesting a reconsideration of the offers submitted by Indian manufacturers, who are members of IMTMA. We are hoping that our request will be considered.

About IMTMA

IMTMA was formed in 1946 the year before India got its independence when around 20 machine tool manufacturers joined hands to form an Association. Over a period of over seven decades it has grown in size to have more than 450 members representing around 90% of the organized machine tool and allied equipment manufacturers as on date.

Today, IMTMA is the apex body and single point of contact for the entire machine tool industry of India and plays a critical role in the development of the metalworking industry.

A not-for-profit association, IMTMA’s initiatives range from government advocacy to industry and export promotion, trade fairs and events, training and seminars, technology missions, publication of various industry and technical writings, structuring of regional councils, and development of clusters.

TradeIndia Announces India’s First Virtual B2B Event "COVID 19 Essentials Expo India 2020

B2B Event

* The pioneering virtual tradeshow will be held during August 5-7, 2020

* The event is set to boost trade and commerce between different brands across the country by showcasing their products

As several small and medium industries have been adversely impacted by the ongoing COVID-19 contagion in the country, the business community is roping in all efforts to stabilize the situation and rejuvenate the ailing economy. While government-sponsored relief, and financial relaxations are helping industries regain lost ground, inch by inch, there is also a new lease of hope dawning upon the market that every hurdle that is crossed is a step closer to the victory lap.

In a bid to transform the black swan Covid-19 pandemic into a lucrative business opportunity, TradeIndia, India’s largest B2B marketplace offering global buyers and sellers a reliable platform to identify trustworthily business partners shall be organizing the country’s first virtual tradeshow titled, “COVID-19 Essentials Expo India between August 5-7,2020. The trade expo that is targeted will be in the same lines as of a traditional the exhibition, but due to the pandemic concerns will be conducted via the virtual medium.  

The event will be targeted towards reviving the various SMEs and MSMEs of the country whose operations have been affected due to the dire effect of the corona virus crisis and helping them maintain business continuity in such turbulent times. As the pandemic has vehemently increased the demand for essential products, the market is amuck with a plethora of companies selling all kinds of essential wares, but only those companies will triumph who couple their essential product offerings with innovation. Besides revealing and brainstorming on the various innovative guidelines that companies can instill in their product development, the expo will also aim to discover alternate channels of revenue for companies that are suitable for the current market dynamics.

The trade expo will feature a multitude of brands, their products through a virtual exhibition solution that enables exhibitors to showcase their products at a very low cost but with high scalability. The tradeshow will also feature 3D stalls or immersive virtual spaces that enable attendees to sift through the various product lineups, access business catalogues while interacting with exhibitors via chat or video conference.

Featuring more than 60 booths and with an experience spanning over 20 years in online marketing space and event promotion, TradeIndia enjoys the largest industry database in the country that holds countless prospective visitors and investor’s for one’s brand. the essential range products that will be the central to the trade show are Surgical dressing and Disposable; Personal safety equipment; Personal care products; Common medicines and drugs; Temperature instruments; Medical, diagnostic & hospital supplies; Home cleaning appliances, etc.

Commenting on this highly enterprising initiative, the spokesperson for Trade India said, ”While the pandemic has wreaked havoc upon industries and the resultant economy, it has also opened up hitherto unlocked vistas of promising opportunities, As businesses across the world are united in their transition from the offline mode to the online mode of presuming their operations, We, at TradeIndia, endearingly strive to tap into the exuberant potential of the digital business model and also extend a much-needed lift-up to the struggling factions of SMEs and MSMEs and help them shift to the online medium of  commencing business through this first of its kind landmark virtual tradeshow. We welcome everyone to participate and grace this novel event as together we can adapt and thrive in this new normal, no matter how great the challenge.”  

About TradeIndia:

TradeIndia.com is an online Business to Business (B2B) portal for small businesses based in India and around the globe. The portal was started in 1996 by Bikky Khosla and is maintained and promoted under the flagship company, Infocom Network Ltd. The company is headquartered in New Delhi, India, and has branch offices in more than 42 cities across India.

The New Mantra: Future of SMEs Post COVID 19 in Indian Market

By Sandip Chhettri,COO,TradeIndia

While the novel coronavirus has wreaked havoc upon the organized world, it has also ushered an opportunity for the new tides of transformation to emerge. This evidently bleak situation where businesses and institutions have suffered substantial losses on account of the global pandemic also holds the potential for heralding a profound paradigm shift in the way businesses are imagined and defined, namely the shift from offline to the online digital medium. While most organisations in the world have sanctioned their employees to work from the safety of their homes, there is still a lot of ground left to cover. There is an overwhelming gamut of businesses belonging to sectors, which have hitherto operated in a conventionally offline manner.

Industry types such as the manufacturing industries, retail operations, hospitality, mobility, etc have always existed along the physical contours of operation. While the big multinational corporations have the advantage of vast capital and resource to their disposal, small and medium enterprises benefit from their agile and more compact nature of working. Therefore, opportunities exist for both David and Goliath in this new world order to streamline their operational mediums to achieve seamless objectivity.

The lockdown has taught the entire business world a lesson in the survival of the fittest tactics and how best to leverage seemingly adverse conditions to one’s own gain. The Government of India has brought in a surfeit of bailout packages, amended fiscal policies, rate cuts, loans and waivers to rescue the ailing industries in the country. It has also unequivocally championed the need for the nation to become self-reliant, besides heralding a slew of ingenious schemes such as the ‘vocal for local’, financial aid and an INR 20,000 crore security reprieve. The centre is also endorsing the immediate need for businesses, academic institutions, and public sector units to immediately and effectively shift to online means of business to maintain market relevance.

Here is a slew of essential factors every SME and MSME must go through before recommencing their operations once the lockdown gets lifted:

Neutralize the scene

No matter the size, nature, or dimension, the primary concern for every business is to initiate an in-depth assessment of the existing company assets, its overall financial health and security aspects. As the pandemic has interrupted operations, productions and sales across frontiers, it is essential for companies to arrive at a realistic and holistic overview of the present situation in the face of the virulent pandemic. The company leadership must resolve the various deficits, prospective inflow and outflow of capital, latent expenditures and burdens. Obtaining dependable and actionable reports regarding the various respite from government, apex trade and commerce bodies, investors are important before undertaking critical decisions such as pay cuts, scrapping of potential future investments, growth and expansion plans, etc

Realigning your goals 

Re-appraisal of all business blueprints is of the utmost essence for SMEs in the event of such an industrial setback. The post-pandemic landscape is surely going to be different than the pre-COVID days and businesses have to revamp and realign their planning and strategy for the future accordingly. There is a need for a realistic and well-formed map for the road ahead while taking into consent the outlook of the various stakeholders of the company. The leadership should also reschedule the company objectives in accordance with the unprecedented coronavirus developments. Reforming the annual execution plan can constitute a spectrum of diverse business variables such as suspension of funding rounds, forging new partnerships, or discontinuing unfavorable ones.

Embracing the digital

The current environment dictates that SMEs as well as the smaller entities immediately switch to the digital pathways of business engagement and create a strong and veritable online presence. By tapping optimally into the potential of social media, businesses can even generate sales through interactions with peers and customers via online channels of communication. This is the age of digital media marketing and entrepreneurs must harness it now, more than ever. Those organizations that have hitherto operated through offline modes should etch out a transition layout for the imminent digital future without compromising on employee efficiency or data safety. 

The revolution must be live

The fourth industrial revolution is a well-timed boon indeed, a veritable blessing in disguise for businesses around the world. The latest technological disruptions such as the AI, ML, IoT, CRM, Cloud and other innovations must be leveraged by even the SMEs. Businesses should adapt to the fourth revolution of smart automation and invest appropriately to bestow a new-age tech-empowered operational facelift, thus thriving in the digital economy. Tech-empowered businesses have the edge over conventional competitors churning greater ROI and market performance even in the times of a pandemic.

Though the necessary investments for these overarching business augmentation and up-skilling may seem unfeasibly vast, it is an essential cost that must be undertaken considering the future consequences.  Businesses must execute optimum risk-mitigation strategies in the face of the pandemic and should also seek to acclimatize for any future crises.

SAP Launches MSMEs Initiative “Global Bharat” to Make them Globally Competitive

SAP India announces the launch of Global Bharat, a program designed to enable Indian MSMEs become globally competitive by equipping them with digital technologies. In association with NASSCOM Foundation, United Nations Development Programme (UNDP) and Pratham InfoTech Foundation, the program further compliments Government of India’s vision to empower MSME sector by providing them access to global marketplace, digital skilling for the workforce and transforming business processes.

Given the current business environment and state of economies, Global Bharat will enable Indian MSMEs to become future-ready while driving greater efficiencies by adopting these 3 initiatives:

Gaining Access to Global Marketplace: MSMEs will have open access to SAP Ariba Discovery where any buyer can post sourcing needs and any of the four million suppliers on Ariba Network can respond with their ability to deliver the goods and services required with no fees through December 31, 2020. Ariba Network is the largest digital B2B marketplace where more than USD $3.3 trillion in global commerce flows annually. By accessing the SAP Ariba Discovery offer, Indian MSMEs can enroll themselves as suppliers and access a global customer market.

 

Digitally Skilling Workforce: Business owners will have access to SAP India’s Code Unnati, a coveted Golden Peacock Award winning digital skilling initiative. MSMEs will be provided accessibility to 240 courses (more getting added in a few months) on Digital Financial, Soft Skills, Productivity Technologies that will digitally skill the workforce and adapt to the new working environments. The curated courses will be made available through a mobile application for people to access via their android smartphone devices. Under this digital literacy program, SAP India has already trained over 1 million youth with the help of 1500 physical training centers

Digitally Transform Businesses: Global Bharat brings affordable and accessible enterprise technology for MSMEs. Through Bharat ERP initiative, they can now adopt SAP’s world class ERP; Business One Starter Pack on the cloud.  We understand from SAP’s partner ecosystem that they will make available this cloud offering for Rs 3999 per user per month with accessibility for maximum of 5 users per MSME. This Digital transformation will enhance efficiencies for businesses while enabling them to provide better products and services to their customers.

Speaking about the program, Deb Deep Sengupta, President and Managing Director, SAP Indian Subcontinent said, “The impact of pandemic on economy and businesses has been felt majorly by MSMEs across the country. Being a potential contributor to India’s GDP (29%) and providing employment to over 111 million people, it is imperative to strengthen the sector for the revival of the country’s economy. Global Bharat, is our endeavour to enable MSMEs to augment business operations and re-access critical processes that overcome inefficiencies and make them globally competitive.”

Subramanian Ananthapadmanabhan, Vice President and Head of General Business, SAP Indian Subcontinent further states, “80% of SAP’s customer base are SMEs that have adopted digital technologies and witnessed exponential growth. As India opens up to a post-COVID business landscape, we are excited to partner with Micro, Small and Medium Enterprises on their digital journeys and support them with technologies and skills necessary to gain scale and compete in the new environment.”

MSMEs can access these offerings under the Global Bharat program at www.GrowthMattersForum.com 

PNB Sanctions Loans of Rs. 6757 Crore to Around 3 Lakh MSMEs Under Credit Guarantee Scheme

Punjab National Bank, India’s second-largest public sector lender has been one of the top lenders to small businesses under the government’s emergency credit line guarantee scheme (ECLGS). As of 25th June, PNB has sanctioned Rs 6757 crore in 296753 eligible MSME accounts under 3 Lakh crore Guaranteed Emergency Credit Line (GECL) out of which disbursements have been made to 59204 accounts amounting to Rs 2030 crore.

27th June is observed as the International Micro, Small and Medium Enterprises (MSME) Day by the United Nation since 2017. This year’s global theme reflects on “MSMEs: first responders to societal needs”. Government of India has acknowledged and focused on the MSMEs as it is the building block of the country; the sector is also the second largest employer.

Post pandemic reigniting their operation will bring back vibrancy to the economy and social fabric of the country  

On the occasion of International MSME Day, Sri S.S. Mallikarjuna Rao, MD & CEO of Punjab National Bank assured its customers in the statement, “PNB values its esteemed MSME customers and the bank will stand by them and support them through this crisis. This year we commit our support to overcome this crisis and reignite the country’s economy."

Indian MSMEs are in need of urgent credit to reinitiate their working capital and business operation. MSMEs have suffered losses and were unable to pay the previous loan because of the current economic distress. The government have extended a lifeline by giving them 100 per cent guarantee credit from the date of announcement till 31st October. 

MSME Day, 27th June 2020: 5 Companies Empowering Indian MSMEs

India’s Micro, Small, and Medium Enterprises (MSMEs) is the second largest in the world and are considered as the backbone of the Indian economy.The pandemic hit the economy and caused  liquidity crunch in the market.  MSME sector faced the most challenging time due to lack of funds and labour as a result of which a lot of MSMEs had to pause or discontinue their business. The government has been taking necessary  decisions and is addressing these  solvency issues, which will help the MSMEs to  stay afloat. Apart from this, there are companies that are also lending a helping hand to support the MSMEs and bridging the market gaps.

Crediwatch

Crediwatch is a ‘Data Insights-as-a-service’ company that provides lenders, businesses with actionable credit intelligence on private entities they need to improve trust and increase their lending and trading activity. Crediwatch does this with no human intervention by deploying the latest practical AI and technology tools that provide the most reliable comprehensive real-time inputs.A bank only looks up 200 of data points while considering decision for a loan. On the other hand, Crediwatch  picks up data from 25,000 different points which is the highest in the industry from already existing information in the regulatory framework. The intelligence can further be deployed for risk management and analysis, due diligence and in future can be used for providing “TrustScore” for MSMEs who are new to credit.

Udaan

Udaan is a Business-to-Business (B2B) ecommerce platform, designed to solve core trade problems for small, medium and large businesses across India. It is the largest such national distribution platform of its kind enabling retailers and businesses to source merchandise from manufacturers, brands, white labels, importers etc. on a single platform. udaan brings to users the power of technology to grow their business.The easy-to-use app gives them the power to BUY & SELL on their terms with secure payments and hassle-free logistics,GROW their network through access to new regions and customers for brands,manufacturers and marketing & sales support for retailers and businesses,DISCOVER customers, suppliers and products across multiple categories,CONNECT directly with sellers and interested buyers to discuss trade

Tradeindia

Tradeindia is India’s largest online B2B marketplace, connecting buyers and suppliers. Their mission is to help SMEs and MSMEs to go Digital. Now more than ever, company is committed to provide SMEs with the resources they need to take their businesses online. As the shift from offline to online accelerates, during these times companies are being asked to do more with less. Tradeindia client Relations team helps SMEs with tools to digitize their business operations and make your business future-ready. 

 Signzy 

Signzy offers a digital on-boarding solution for banks, NBFCs and other financial  institutions. Most banking services are going digital but one key process that is still offline and hampers consumer experience is regulatory compliance. There is a pressure to dilute digital KYC however digital has higher risk. We at Signzy believe that through a combination of Artificial Intelligence and blockchain we can ensure that digital compliance is convenient but yet secure. 

LENDINGKART 

LENDINGKART Technologies Private Limited is a fin-tech startup in the working capital space. The Company has developed technology tools based on big data analysis which facilitates lenders to evaluate borrower’s credit worthiness and provides other related services.LENDINGKART Finance Limited (formerly Aadri Infin Limited), is a non-deposit taking NBFC, providing SME lending in India. The Company aims to transform small business lending by making it convenient for SMEs to access credit easily. The Company uses technology and analytics tools, analyzing thousands of data points from various data sources to assess the creditworthiness of small businesses rapidly and accurately.

India’s MSME Hold the Key to an Economic Restart at the Grassroots - NRI Consulting Report

Key Points               

* Financial Stability, Availability of Skilled Labour in MSME clusters, and Market Competitiveness of products to be the driving factors for a robust MSME sector

* Using a cluster approach to help upgrade MSMEs to suit the changing global landscape

The outbreak of COVID-19 pandemic has drastically changed the global economic landscape. World Trade Organisation estimates that global merchandise trade will reduce by 13% to 32% in 2020 due to COVID-19 pandemic. This global phenomenon is going to make countries think about strengthening their local supply chains.

With this backdrop, India has already announced its vision of ‘Atmanirbhar Bharat’ - A Self-Reliant India which will push for strengthening local industries and give them a boost to compete at a global stage.

The latest report by Nomura Research Institute (NRI) Consulting & Solutions India endorses this view by stating that MSMEs can play a significant role in achieving this vision, however, a lot more needs to be done for MSMEs to become a growth driver for India. Three key parameters for the success of MSMEs are Financial Stability, Availability of Skilled Labour in MSME clusters, and Market Competitiveness of their products to both achieve import substitution as well as exports.

The report identifies some of the key areas that need to be focused:

 

1) Capability of Supply – It is essential to improve the capability of Indian MSMEs to supply quality products especially with new norms of operations being introduced due to COVID 19. Maintaining social distancing, running on reduced capacity, etc. would further aggravate the situation for the cash stripped MSMEs. Hence, it is imperative to provide immediate support for ensuring they keep up their capability of supply

2) Capability of demand - Indian MSMEs need to be adaptable with changing market trends. Recent global developments have also reduced the planning horizons in global supply chains making it crucial for the sector to be able to adapt to a variable demand scenario

3) Capacity - Ensuring capacity and availability of raw materials is also crucial. The disruption in global logistics has broken the chain for some key raw materials.

4) Cost competitiveness – The impact of COVID 19 on business operations will require innovative methods to reduce cost. MSMEs could be introduced to low-cost automation techniques which work in tandem with the human workforce while implementing distancing and also for quality control.

5) Customer perception – Branding and advocacy will also be needed to leverage the positive connotations associated with certain Indian products and assess negative connotations that can be removed

Ashim Sharma, Principal & Division Head – Business Performance Improvement (Auto, Engineering & Logistics), NRI (Nomura Research Institute) Consulting & Solutions, said, “The Indian MSMEs have traditionally been catering to the domestic market either through directly selling to the consumers (B2C) or are a part of the value chain driven by large organised private players (B2B). Factors like evolving consumption and increasing competition have led to the increasing relevance of integrating customers’ voice in product design for MSMEs to stay relevant. Therefore, it becomes extremely important for the MSMEs to design, manufacture and sell products which the customers need. They need to be connected to a demand led environment, where their business strategy and processes are aligned to the changing market dynamics through a market-oriented strategy.”

With the manufacturing ecosystem is constantly evolving under the influence of several trends around changing consumer behaviour and technological shifts happening across the globe, NRI Consulting & Solutions has put forward a set of recommendations. These are:

The report also highlighted multiple manufacturing clusters across India to help create a conducive environment for development of small and medium enterprises, as identified by the United Nations Industrial Development Organisation (UNIDO). Clusters across India hold the key for developing a self-reliant ecosystem based on local skills and expertise. The cluster approach becomes all the more important with the localised nature of lockdown opening policies. Measures for development of MSME clusters can be aligned with the strategy to fight the impact of COVID 19.  “E.g. The state of Punjab has multiple MSME clusters with majority of them located around Jalandhar and Ludhiana. These MSME clusters provides an opportunity to significantly upgrade the overall manufacturing economy of the state. Jalandhar for example has clusters for sports good, agricultural implements, hand tools, leather works, etc. Similarly, Ludhiana has clusters for bicycle parts, hosiery, forging, hand and machine tools, etc. All these MSMEs, if developed in a collaborative approach while keeping a market oriented strategy, can provide significant boost to the economy as well as employment in the state of Punjab. “added Mr. Sharma

The report further emphasizes on the fact that clusters can also be used for identifying synergies between various stressed MSMEs which can then be used to create collaborating firms. MSMEs that cannot stand alone might be able to succeed as combined firms by utilising various synergies. These synergies can be across various areas such as demand synergies, geographic synergies, logistics synergies, etc.

“Using a cluster approach will help in upgrading the MSMEs to suit the changing global landscape. Financially it might not be feasible for an individual MSME to develop all the capabilities but at the cluster level it can be achieved by sharing resources and realising cluster level synergies. A good example will be the Jalandhar cluster for sports good. Through focussed efforts, this cluster can combine resources for tracking the latest trends and demand requirements across the globe and manufacturing market-oriented products that can easily adapt to the changes in consumer preferences.” Mr. Sharma concluded.

IT SEZ from realty firm in Ahmedabad

A city based realty developer Calica Construction and Impex pvt Ltd laid the foundation stone for an It and ITeS Special Economic Zone here on Sunday.

The SEZ will be spread over 20 acres of land on the outskirts of the city and would house small and medium sized information technology companies.

The developers have planned to complete the first phase of the project in two years with initial investment of Rs 300 crore while total estimated cost of the project is Rs 650 crore.

Union minister of state for small and medium enterprises Dinsha Patel and Gujarat minister of state for industry and energy Saurabh Patel were among those present at the foundation stone lying ceremony.

According to Bipin Shah, one of the developers of the new venture, the company has already got the notification from the Board of Approval (BoA) for SEZ and other clearances are in the process.

He said that over 30,000 square feet space will be created for the It and ITeS companies.

He added that they are also in the process of tying up with major IT firms to set up their centres in the SEZ which would offer world class infrastructural facilities.

Agencies