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IndiaMART.com Triggers Global Growth Prospects for SMEs

02-01-2011 08:39 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Indiamart Intermesh Ltd

- In association with TiE organises SME Conference 2011 on "Going Beyond India — Competing in a Globalized Economy"
- Mr. Dinesh Agarwal, Founder & CEO, IndiaMART.com says competitive & resilient SMEs are quintessential for economic growth
-Prof. Suresh Tendulkar shares macro perspective on enhancing global competitiveness in SMEs
-Hon'ble Secretary Ministry of MSMEs Mr. Uday Kumar Varma says the new decade belongs to SMEs
-Packed hall acclaims the Conference

New Delhi, 31st January, 2010: "It is time for Indian Small and Medium Enterprises (SMEs) to go beyond India, explore 'Bharat'." This statement by Professor Suresh Tendulkar gave a whole new dimension to the SME Conference 2011 organised by IndiaMART.com in association with TiE Delhi NCR recently at Hotel Sheraton, New Delhi. This year's Conference was centered around the theme of “Going Beyond India - Competing in a Globalized Economy”, underlining critical elements which vitalize SMEs for global competitiveness. Presence of dignitaries from various fields such as Mr. Uday Kumar Verma, Honourable Secretary, Ministry of MSME; Prof. Suresh Tendulkar, Chairman, Indian SME Knowledge Forum, Director, Central Board of RBI & Former Chairman, Economic Advisory Council to PM; Mr. Pradeep Gupta, Chairman & Managing Director, CyberMedia Group; Mr. Dinesh Agarwal, Founder & CEO, IndiaMART.com; Mr. Pavan Vaish, CEO, IBM Global Services; Mr. Brijesh Agrawal, COO, IndiaMART.com; Mr. Ajay K Koul, Vice President – Business Alliances, FIIT JEE among several others multiplied the significance of the Conference.

Opening the session with his encouraging words, Mr. Dinesh Agarwal, welcomed the distinguished guests. Reiterating on the important role of SMEs in the growth and development of the economy, he said, “Our SMEs have created immense employment opportunities for over 60 million people in the country. They account for approximately 45% of the manufacturing output and 40% of the total exports of the country. Certainly huge numbers but still leave a lot of room to achieve their full potential. These figures can grow manifolds if they possess competitive advantage over their counterparts in global markets.” He added, “At IndiaMART.com, we believe globally competitive and resilient SMEs are quintessential for further growth and development process of the Indian economy. Our association with TiE for the SME Conference is a step towards readying the Indian SMEs with such competitiveness.”

Chaired by Mr. Pradeep Gupta, the inaugural session saw Mr. Suresh Tendulkar share macro perspective on making SMEs competitive in today's globalised economy. He said, “Being globally competitive depends upon SMEs' ability to take up challenges and tackle them.” He also highlighted that developed countries have aging population while developing nations have a working population and added, “In the coming times, growth rate in emerging markets will be much higher as compared to developed economies.” He concluded by bringing focus back to the country, saying, “Competitiveness needs to be built not only global markets but also for domestic. It is time for Indian SMEs to go beyond India, explore 'Bharat'.”

Upbeat about the growth of the MSMEs in the times to come, Mr. Uday Kumar Verma, said, “I am extremely happy and privileged to share my thoughts here... Of late, MSMEs are getting lot of attention. The decade which has started rightfully belongs to them. We need to aggressively push their agenda.” He also elaborated on the challenges that prevailed in this sector such as credit, technology, infrastructure, marketing and skill development.”

The next session focused on 'SMEs – Expanding your horizon (setting up for a globalised economy)'. While Mr. Mritunjay Kapur, Country Managing Director, chaired the second session on 'SMEs – Expanding Your Horizon (Setting up for a Globalised Economy)', Mr. Pavan Vaish, CEO, IBM Daksh Business Process Services, talked about the importance of operational excellence and a strong value system in a business as prerequisites to take one's business to a global level. The other eminent speaker Mr. Somenath Ghosh, Chairman & Managing Director, NRDC also presented his views.

Another session 'Scaling up – Practitioner's Perspective' chaired by Mr. R. Narayan, CEO, Denave India Pvt. Ltd. proved to be truly insightful and interactive session for the audience where Mr. Brijesh Agrawal and Mr. Ajay Koul shared their business perspectives. From the mindset of an entrepreneur, market identification & development, technology, conviction of the team in the business idea & entrepreneur, product positioning, customer retention to creating & sharing wealth, the session dealt with every critical factor involved in scaling up of small businesses.

Other important sessions were: 'My Story Session' chaired by Mr. Ketan Dewan, Managing Director, KRD Vision, with Mr. Kunwer Sachdev, CEO, Su-Kam Power Systems Ltd. and Mr. Ashwani Chawla, Founder, Catmoss Retail Ltd. sharing their success stories; 'Building an innovation culture – Leveraging Technology, products & IP to Enhance Global Competitiveness' chaired by Mr. Vinod Sood, Managing Director, Hughes Systique Pvt.Ltd.; and 'Funding – Debt vs equity- whats the best option for me?' chaired by Ms. Kalpana Jain, Senior Director, Deloitte Touche Tohmatsu India Ltd.

Each session had an enthusiastic audience which posed different questions to the panelists. The Conference was hugely successful and was able to address the issues which concern SME competitivess at a global level. IndiaMART.com will continue to partner itself with such endeavours that will aid in enhancing growth prospects for the SMEs.

About IndiaMART.com

IndiaMART.com is India's largest online B2B marketplace connecting global buyers with suppliers through business directories, online product catalogs, buy-sell offers, industry specific marketplaces, printed media and trade shows participation.

Founded in 1996 by Mr. Dinesh Agarwal (CEO), the company has a pan-India presence in over 100 cities. With over 2400 employees located across 55 offices in the country, IndiaMART.com offers an extensive range of value- added products and services to its 1 million registered members and nearly 5 million global buyers across various industries and verticals.

IndiaMART.com has won numerous awards over the years and has been widely covered by media such as CNBC, BBC, BusinessMoney, CNN, Businessworld, Economic Times, Financial Express, etc for its pioneering role in promoting SME business in the country. Its existing investors include Intel Capital and Bennett, Coleman & Co. Ltd (Times Group), India's largest print media group.

About The Indus Entrepreneurs (TiE)

The Indus Entrepreneurs (TiE) is the world’s largest organization dedicated to the advancement of entrepreneurship. TiE was founded in 1992 in Silicon Valley by a group of successful entrepreneurs, corporate executives, and senior professionals with roots in the Indus region.

There are currently over 15,000 members and more than 2,500 charter members in 56 chapters across 14 countries. TiE’s mission is to foster entrepreneurship globally through mentoring, networking, and education. Dedicated to the virtuous cycle of wealth creation and giving back to the community, TiE’s focus is on generating and nurturing our next generation of entrepreneurs.

TiE members include senior and successful Entrepreneurs, VCs, Angel Investors, Private Equity, and Law Firms, Tech and Management professionals, SME’s, aspiring entrepreneurs and students.

IndiaMART InterMESH Ltd
B-6, Sector-8
Noida
U.P.-201301

Media Contacts
Pawandeep Kaur
Manager - PR
T: +91-120-3911000
F: +91-120-2424943
E: pr@indiamart.com

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