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- Efficient MSMEs Should Increase The Pace Of Their Growth, Wadhwani Foundation Appeals For Their Empowerment
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- The big challenge before MSMEs is to know where they can now find a new path of progress.
- The recent boom in MSME registrations and digital innovation in business show how powerful they are
On the occasion of International MSME Day, the non-profit organization Wadhwani Foundation has appealed for the empowerment of MSMEs. It has said that potential MSMEs should think about accelerating their growth. Wadhwani Foundation has advised MSMEs struggling due to Kovid to strengthen themselves.
International MSME Day Time to introspect
Sameer Sathe, Executive Vice President, Wadhwani Advantage has said that International MSME Day is a time to introspect. The difficulties being faced by the MSME sector due to Kovid need to be looked into. It is an important part of the economic and social fabric of the country. In this, complete recovery will be possible only with strategic support.
Availability of cash, demands of creditors need to be addressed
Sathe said that it is necessary to bring stability to the region and for this the immediate challenges are met. For this, they need to pay attention to the availability of cash, salaries of employees, demands of creditors. The big challenge before them is to know where they can find a new path of progress.
The system will collapse in the blink of an eye
He says, ‘Kovid has troubled the whole world, especially developing countries. In such a situation, it is recognized that MSME needs help. If they are not taken care of, the world order of business, foreign trade, economy and livelihood will collapse in the blink of an eye.
Digital innovation shows the strength of MSMEs
theSathe also says that the recent boom in MSME registrations and the digital innovations made in their businesses show how powerful they are. He says that the focus of Wadhwani Advantage is to strengthen and stabilize the business foundation of MSMEs. This will enable them to grow faster in the long term.
Kovid has a profound negative impact on the entire MSME sector
Executive Vice President Wadhwani Advantage said that MSMEs are known as engines of growth of the country. It contributes more than 30% in the country’s economy and in creating employment opportunities. Kovid has had a profound negative impact on the entire MSME sector. Therefore, it is necessary that measures should be taken to give them new life to support them.