Minister to release report at MSME summit

The Confederation of Indian Industry (CII) and the ministry of micro, small and medium enterprises (MSME) are jointly organising the India SME Summit here on Tuesday.

Mr Dinsha J Patel, minister of state for MSME, will inaugurate the summit and release the CII-PricewaterhouseCoopers paper, Creating Competitive SMEs, a CII release said here. The discussions during the summit will revolve around the central theme of the summit, “Creating Competitive SMEs”. The three key sub-themes for the summit are, “Bridging the Policy Divide”, “Leveraging Information Technology” and “Exploring Financing Options”.

One session will take stock of the implementation status of the recommendations made by the task force headed by the principal secretary in the Prime Minister’s Office, and also identify critical gaps in governance and policy interventions, for SMEs.

Another session will discuss new innovations in technology (cloud computing), delivery (software as a service, or SaaS) and revenue models (transaction, subscription-based, etc.) and their potential to change business.

A third session will analyse steps that are needed to expand banking outreach, universalise the credit rating of SMEs, the viability of a SME Exchange, and the level of support that can be extended to SMEs to develop bankable projects that will appeal to private equity and venture capital funds.