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Dronacharya Group of Institutions, Greater Noida |
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Department of Master of Business Administration |
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Global SME Business Summit 2014
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India Habitat Centre, New Delhi
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8th October, 2014
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Global SME Business Summit 2014: Enabling Global Economic Growth through SME Partnership was organized by Confederation of Indian Industry (CII) in association with the Ministry of MSME, Government of India on 8th October, 2014 at India Habitat Centre, New Delhi. Dr. Sahab Singh, Assistant Professor, Department of Master of Business Administration along with student Mr. Lokendra Kumar Yadav attended the event as delegates from Dronacharya Group of Institutions, Greater Noida. |
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The major objectives of summit were to discuss the needs of MSME sector and to highlight all its common issues and identify cross-border partnership opportunities |
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The event began with inaugural speech of Mr. T. T. Ashok, Co-Chairman, CII National SME Council. In his opening remarks Mr. Ashok explained that global conference is a singular opportunity for participating industrialists, ministry, bankers, academicians and several research scholars from India and the overseas. He emphasized on providing timely credit to Indian MSMEs by the bankers and requested the large industries to put forward their recommendations on tackling the issue. |
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Ms. Patricia Hewitt, Chairperson, United India Business Council, discussed that the MSME Ministry should also take some necessary steps towards enhancing the Credit Guarantee Scheme to meet the basic needs of a large number of existing and new entering entrepreneurs in this sector. |
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Mr. R C Bhargava, Chairman, Maruti Suzuki India Ltd., enthusiastically recommended that the existing entrepreneurs need to focus on quality instead of quantity. He emphasized that the practice of improving the product quality will help face the challenges and cut throat competition in the global market and can make India’s position better in international market. |
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Mr. Madhav Lal, Secretary, Ministry of MSME, Government of India, discussed in detail the comparison between the organized and unorganized segment. Mr. Madhav presented a data that unorganized segment of MSMEs had recorded eight times growth in comparison of organized segment in the last decade and more than 90 per cent MSMEs are in unorganized segment in India. Mr. Madhav added that The MSME is the backbone of the nation, providing largest job after agriculture segment, contributing 8% of GDP, accounting for around 40% of the total exports and around 45% of the manufacturing output. |
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Mr. Deep Kapuria, Chairman, CII International Regional Committee on Central Europe, remarked that PPP (Private Public Partnership) should be given great importance and MSME Ministry must come forward for a better implementation of it by making the immediate change in its policies. The MSME segment can drastically play a significant role in the development of the Indian economy if an immediate change in its policies is done. |
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CII and the NIESBUD exchanged a signed Memorandum of Understanding (MOU) for knowledge partnership through Virtual Clusters in presence of Shri. Madhav Lal, Secretary, Ministry of MSME, Government of India. |
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Mr. A Ramesh Kumar, Co-Chairman, Sub Group on Finance & Credit CII National Council summed up the session by saying that government should focus on restructuring the MSME policies to make them effective for the promotion of entrepreneurship across nation. |
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The event came to an end with Vote of Thanks followed by high network tea and refreshment. |
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It was a brilliant initiative taken by CII to bring together around 600 delegates from various parts of globe represented SMEs, key decision makers, business leaders, regional and national funding agencies from India and overseas on a common platform. |
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