Professional body volunteers service

Indian Professional Service Organisation (IPSO), an organisation of professionals willing to render service voluntarily, will help the small and medium enterprises attain global competitiveness.

IPSO president and noted chartered accountant Pesi M Narielvala said IPSO would work like the British Executive Service Overseas (BESO), a body based in UK which has been practicing organised volunteerism.

Narielvala said Indian SMEs were facing problems but retired and experienced professionals could bail them out by working with them.

According to him, the foundry industry has a great scope in the changed economic circumstances.

"Globally auto manufacturers are outsourcing foundry components and Indian SMEs could tap the opportunity," he said.

Leather and engineering industries in the state could benefit too, he added.

IPSO will interact with Indian corporate houses for supply of professionals for voluntary service.

"IPSO will integrate corporate social responsibility with this initiative. I am optimistic IPSO will get support from Indian corporate houses," he added.

IPSO would first try to help SMEs with management and project advice.

Later, IPSo could guide them in raising capital for business.

"IPSO will not only help existing SMEs but would also extend a helping hand to potential entrepreneurs. It shall address the issue of new enterprise development," he added.

The funding for the initiative was yet to be decided but in the case of BESO, DFID of UK had funded a major portion of its activities.

"BESO has so far undertaken 10,000 projects, most of them funded by DFID," he added.