Economic Times Make in India SME Regional Summit – Empowering MSMEs: Driving India’s Century of Sustainable Growth

The Economic Times Make in India SME Regional Summit on November 13, 2024, at Hilton Jaipur, 42 Grand Geejgarh, Hawa Sadak, Geejgarh Vihar Colony, Bais Godam. The event aimed at empowering the MSME (Micro, Small, and Medium Enterprises) sector by facilitating discussions among policymakers, industry experts, and stakeholders. This initiative is part of The Economic Times’ year-long endeavour to champion and strengthen the Indian MSME ecosystem through knowledge-sharing, networking, and celebrating local enterprises’ achievements.

The event was joined by a panel featuring Ms. Raghushree Poddar, Chairperson, FLO Jaipur, Kuldeep Singh Chandela, President, Federation of Hospitality and Tourism of Rajasthan (FHTR), Dr. K. L. Jain, President, Rajasthan Chamber of Commerce and Industry, and Arvind Gupta, President, Sitapura Gem and Jewellery Industry Association (SGJIA).

FLO’s Significant Contributions Highlighted at the Summit:

1. Empowering Women Entrepreneurs: Ms. Raghushree Poddar, Chairperson of FLO Jaipur, emphasized the role of FLO in uplifting women entrepreneurs and fostering an inclusive business ecosystem. FLO has been a trailblazer in creating supportive frameworks that enable women to navigate the challenges of starting and scaling their businesses. The organization offers an array of programs that include:

– Training and Workshops: Focused on skill development in areas like business management, digital literacy, and leadership.
– Mentorship Initiatives: FLO’s mentorship programs connect aspiring entrepreneurs with experienced business leaders who provide guidance and insights.

2. Advocacy and Policy Engagement: FLO actively engages with government bodies to advocate for policies that support not just women-led businesses but the broader MSME sector. FLO’s recent collaborations aimed at ensuring that policy frameworks are inclusive, sustainable, and capable of fostering long-term growth.

3. Networking and Business Growth: The summit highlighted FLO’s contribution to creating business opportunities through extensive networking platforms. These platforms enable women entrepreneurs to showcase their products, collaborate on projects, and expand their market reach.

4. Community Projects and Sustainability Initiatives: The chapter has spearheaded community-based initiatives such as sustainability drives, skills training for underprivileged women, and workshops focusing on eco-friendly business practices.

Key Insights:

– Collaboration between Services and Manufacturing: The panel discussions reinforced the importance of synergy between different industry sectors to boost MSME growth.
– Addressing Challenges: Panelists shared solutions for common challenges like accessing capital, navigating regulatory landscapes, and embracing technological advancements.
– Role of Financial Institutions: Financial experts discussed the need for targeted financial solutions and how institutions can better serve MSMEs by offering innovative products and digital services.

The Economic Times Make in India SME Regional Summit demonstrated that empowering MSMEs is crucial for India’s sustainable development. The summit served as a valuable platform for dialogue, collaboration, and the strategic alignment of efforts to propel the MSME sector forward.