(MENAFN- KNN India)
New Delhi, Aug 31
(KNN) IFCI Limited (IFCI) and the Federation of Indian Micro and Small & Medium Enterprises (FISME) have expanded their initiative to support the growth of Small and Medium Enterprises (SMEs) in India with the newly enhanced Centre of Excellence for Aspiring SMEs.
Launched in February, this Centre is now introducing additional resources to aid SMEs in their growth journey.
Rahul Bhave, Deputy Managing Director of IFCI, added,“Through this Centre of Excellence, IFCI will help aspiring SMEs to become external equity ready and facilitate access to adequate funding in their growth stage by offering an array of services.”
Sandeep Kishore Jain, President of FISME, highlighted the Centre's foundational goals.“The 'Centre of Excellence for Aspiring SMEs' began with the idea of providing both of these two types of groups, a meeting ground and a secured and trusted environment enabled by a Government of India financial institution- IFCI, and the national body of MSMEs- FISME,” he said.
The expanded Centre of Excellence now aims to offer more comprehensive support by integrating advanced financial services and fostering strategic international partnerships. This includes facilitating SME listings on stock exchanges, which can significantly enhance capital access, visibility, and liquidity.
Rajendra Agrawal, former MP and Convenor of 'Friends of MSMEs in Parliament,' underscored the initiative's role in bridging communication gaps.“In India, many MSMEs struggle to access government schemes and benefits because of lack of understanding of the schemes and information gap,” he noted.“To address this, IFCI and FISME have collaborated to establish this Centre of Excellence, aimed at bridging this gap by providing MSMEs with support and making them external equity ready.”
Anil Bhardwaj, Secretary General of FISME, elaborated on the challenges SMEs face.“Acquiring funds, whether privately or through IPOs, has always been tough for SMEs. IFCI and FISME are now joining forces to help them overcome these challenges through this Centre of Excellence,” he stated.
Sumit Saxena of the Bombay Stock Exchange discussed the benefits of SME listings, emphasising that such listings provide access to capital, enhanced visibility, credibility, liquidity, and the ability to benchmark valuations.
In addition to these financial services, the Centre is set to act as a hub for international collaborations, attracting foreign companies interested in joint ventures or strategic partnerships, in various sectors including Defence Offsets and Global Value Chains (GVCs).
The event, which featured distinguished speakers including Rahul Bhave, SK Jain, Anil Bhardwaj, Sumit Saxena, Sachin Sharma (CEO of GEM Enviro Management), Rajendra Agrawal, Priyanka Chaturvedi, Dong Sung Pak, and Sanjeev Ahuja, marked a significant milestone in the Centre's mission to support and grow India's SME sector.
As SMEs continue to play a crucial role in India's economic landscape, the Centre of Excellence stands as a pivotal development in addressing their needs and fostering their growth. The Centre would be a platform for catalysing Strategic Partnership for Technology/ JV, Business Opportunities and External Equity for aspiring SMEs in various sectors including Defence Offsets and GVCs (Global Value Chains).
(KNN Bureau)
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