The Confederation of Indian Industry (CII) hosted the “CII MSME Growth Summit” at the Radisson, Noida. This event brought together industry leaders, entrepreneurs, and experts to explore opportunities and challenges for the growth of the MSME sector.
The summit commenced with an engaging inaugural session Achieving Growth Through Collaboration Mr. Sahil Dharia, Chairman of the CII Western UP MSME & Start-Up Panel and Founder & CEO of Soothe Healthcare Pvt Ltd, set the tone by emphasizing the significant role of the MSME sector in India’s economy, noting its contribution to entrepreneurship and large-scale employment, second only to agriculture.
Mr. Dharia presented compelling facts that underscored the MSME industry’s status as the backbone of India’s economic growth and innovation. “MSMEs contribute to 30% of the country’s GDP and provide employment to over 110 million people, which is about 40% of the country’s total workforce (Ministry of MSME, Government of India)” he said. Further, he discussed some of the key challenges facing MSME growth in India, such as insufficient investment in research and development and higher logistics costs compared to BRICS and other countries.
Mr. Alok Kumar, Principal Secretary – MSME & Export Promotion, Government of Uttar Pradesh was the Chief Guest who shared an outsider’s perspective of the Indian MSME industry. He highlighted that MSMEs are the second-largest employers in Uttar Pradesh, with approximately 1.60 crore people employed, following agriculture. He emphasized the need for a more organized MSME sector. Mr. Kumar further pointed out that many small businesses lack the ambition to grow. He stressed the importance of thinking big to reach full potential and the government’s role in helping industries overcome this mindset.
Addressing participants, Mr. A Bipin Menon, Development Commissioner, Noida Special Economic Zone highlighted the importance of compliances for units operating in Noida SEZ and suggested that commercial units having bases anywhere should adhere to regulations as prescribed by different Authorities. He further shared a brief on the facilities available in Noida SEZ and invited export oriented units to come and set up shop in the special economic zone.
Throughout the day, the summit delved into a range of topics essential for MSME growth. Key discussions included Achieving Growth Through Collaborations, Financing Options for MSMEs, Importance of Digitalization and Growth Opportunities. Senior representatives from industry addressed delegates including officials from SIDBI, Siemens Industry Software, ICICI Bank, GeM, National Stock Exchange, Bharat Electronics and Rockwell Automation amongst others.
CII, a premier industry association, has long been committed to fostering growth and development across various sectors of the Indian economy. With a mission to support and enhance the competitiveness of Indian businesses, CII continues to play a pivotal role in shaping the future of the industry through such impactful events.
Soothe Healthcare, a Spirit of Manufacturing Award winner, is a leading homegrown brand in personal hygiene. Their aim is to improve the lives of the community by leveraging technology and people to deliver world-class products and customer experiences. They manufacture, distribute, and market personal hygiene products under the brands Paree Sanitary Pads, Super Cute’s Baby Diapers, and Super Liife Adult Diapers. Soothe has an omni-channel distribution network spanning over 2.5 lakh retail outlets, modern trade outlets, and top e-commerce sites. Soothe remains committed to enhancing health & hygiene standards and improving the quality of life for all.
