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2014-03-28

Indian SMEs have power to lead the world, say Experts

Indian SMEs have the power to lead the world but they need capital and technology. The SME stalwarts expressed their views during MP Industry and SME Summit on March 26, 2014.

Indian SMEs have the power to lead the world but they need capital and technology. The SME stalwarts expressed their views during MP Industry and SME Summit on March 26, 2014.

 

Addressing the meet, PK Malhotra, DMK, SBI, said “We are providing support to the SME in a bigger way and ready to do so more. SBI had given advances worth Rs 117000 crore to SMEs.”

 

Malhotra said that just 11% financial institutions are providing finance to SME, it should be 25%. SME federations must come forward to assist SMEs.

 

NK Maini, DMK, SIDBI too elaborated on the efforts made by his bank in financing the SMEs. He admitted that collateral security is the major hurdle for the MSMEs.

 

He urged upon all the SME’s to understand that the credit rating is must for their DPR. It helps in getting cheaper loans. H. E. Gennet Zewide said that there is immense possibility of cooperation between Indian and Ethiopian SME.

 

Salunke, President, SME chamber of India advised fellow SMEs to prepare their DPR rightly so that it becomes easy for banks to provide capital to them.

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