(MENAFN- KNN India) Along with stable finance, innovation also key for MSMEs for sustainance: GCCI
Ahmedabad, May 21 (KNN) Highlighting that demonetizatio had led Micro, Small and Medium Enterprises (MSMEs) struggle for funds,Jaimin Vasa, senior vice president, Gujarat Chamber of Commerce and Industries (GCCI) said alongwith stable finances, innvation is also important for sustainance for MSMEs.
With the unpredictable economic scenario in the country, MSMEs often struggle to survive, but innovation can provide the key to their sustainable long-term growth, he said during the MSME Conclave in the city.
'Demonetization had a severe impact on MSMEs as these industries ended up struggling for funds and managing operations. However, it is important to understand that growth can come not only from stable finances, but also from innovation.
MSMEs therefore must strive to innovate as that will be a differentiator for them, said Vasa.
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