How can SMEs compete with large firms & yet emerge profitable?

The current government has taken welcome steps to improve the business environment in India. Through Make in India, it also continues to give manufacturing a much-needed push.

However, banking on the government for business improvement is not realistic, especially for small and medium enterprises (SMEs). The Indian economy has grown because the private sector contributes a whopping 60 percent, the majority of which comes from SMEs.

The push for Make in India will increase the competition for small manufacturers, especially from conglomerates and large businesses. With globalisation, small manufactures have an increasingly tough battle on their hands. Smaller players must focus on