How corporates can boost MSME growth in India: Bridging the gap
Recognizing these enterprises' critical role, initiatives like Godrej Nirmaan by Godrej Capital are emerging to offer comprehensive support to MSMEs. To delve deeper into how large corporations can foster the growth and development of MSMEs, JR spoke with Manish Shah, MD & CEO of Godrej Capital.
As someone with extensive experience in the financial services industry, what role do you envision for large corporations in fostering the growth and development of MSMEs?
Addressing the credit and business growth needs of MSMEs is an area where we can contribute significantly.
How can corporates leverage their resources, expertise, and networks to provide a conducive environment for MSMEs to thrive?
With Godrej Nirmaan, we've created a platform that provides MSMEs with easy access to essential services like legal and compliance support, access to new markets, and talent upskilling and hiring. Additionally, many other large corporations are introducing special initiatives and recognition platforms to give MSMEs the support and exposure they need.
This support is crucial for MSMEs to secure better credit terms and funding opportunities, facilitating their growth and sustainability. Market access: Establishing partnerships to help MSMEs register, buy, and sell on platforms like Amazon and government e-marketplaces (GeM) that can significantly widen their market reach.
What challenges or barriers do you think MSMEs face in establishing mutually beneficial partnerships with large corporations, and how can these be overcome?
Improving creditworthiness is crucial for enhancing MSMEs' access to financial support, a barrier underscored by statistics indicating a substantial credit gap in India. Instead of traditional metrics, we need to ensure a more targeted approach to supporting MSMEs in accessing the financial resources they need to thrive.
Corporations must be willing to invest time and resources in understanding the unique needs and challenges of MSMEs. By building transparent and supportive partnerships, we can create a more equitable and beneficial ecosystem for all parties involved.
As a leader in the financial services industry, what is your assessment of the current landscape for MSMEs in India, and what are the key challenges they face?
However, MSMEs continue to face fundamental challenges, particularly in accessing credit and resources on terms that are favorable and realistic.
How can Godrej Nirmaan help address these challenges and create a more conducive environment for MSMEs to grow and succeed?
Godrej Nirmaan is designed to tackle these challenges head-on by providing a comprehensive platform that offers access to credit, technology, mentorship, and market opportunities. By leveraging the vast resources and partnerships of Godrej Capital and the ecosystem of the Godrej Industries Group, Godrej Nirmaan aims to create an ecosystem where MSMEs can thrive.
What offerings or services can corporations provide to support MSMEs through Godrej Nirmaan?
Partners who can offer support to address challenges faced by MSMEs in their business journey across various sectors are encouraged to join Godrej Nirmaan. Financial institutions can also play a crucial role by providing customized financial solutions, including credit facilities and investment advice, designed to meet the specific needs of MSMEs.
By leveraging strategic partnerships, Godrej Nirmaan aims to empower MSMEs with the necessary tools and support to overcome barriers and achieve sustainable growth in their respective industries.
What would be your call to action to invite new partnerships/partners to join the Nirmaan platform and support the growth of MSMEs in India?
To all potential partners, if you have solutions that can simplify or accelerate the business growth journey for MSMEs, we invite you to join us at Godrej Nirmaan.
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