Some highlights of Milagrow IMT study "Practices for SME Development from Europe, North America & Latin America - Recommendations for the Policy Makers". This is one of the several studies made as Milagrow World SME Conference 2009. To know more about World SME Conference, visit www.wsme.in
Financing for Development - Financing MSMEs for Economic Growth and DevelopmentR. M
A digital artifact aimed at proposing a financing solution to the credit issue faced by MSMEs in Nigeria. The target of this presentation is a cross section of public sector agents who can engage the development community to seek solutions to the aforementioned issue. The presentation proposes two major solutions; technical assistance to make Nigeria's business environment conducive to businesses, and a financing solution that allows for flow of much needed credit to the MSME sector through the creation of a national development bank. The importance of funding MSMEs cannot be overstated; they are drivers of not only economic growth but serve service other development agendas such as poverty eradication, reduction in wealth imbalances, employment generation etc. Consequently, it is imperative to provide support to MSMEs, especially in developing countries where they lack access to finance, if we are to achieve a key portion of the SDGs.
This paper has referred to research done over the years and tries to study the trend of average
amount of loan disbursed to SHGs, amount of bank loans outstanding and its associated gross NPA from 2015
to 2020, agent-wise
Every Details related to the Startup India ,Modi Action Plane,Latest Startup Report by government,Important points,eligible legal entity,inter ministerial board, startup that is considered eligible,Funding Related questions, top flourishing cities, most profitable type of small businesses and their net profit margins, startups that are changing the face of virtual reality in India,benefit, anylysis
My write up which appeared in the Cover Story of April 2019 issue of Monthly Economic Digest Published by Maharashtra Economic Development Council. The article is about the incentives policies relating to MSMEs in India.
Financing for Development - Financing MSMEs for Economic Growth and DevelopmentR. M
A digital artifact aimed at proposing a financing solution to the credit issue faced by MSMEs in Nigeria. The target of this presentation is a cross section of public sector agents who can engage the development community to seek solutions to the aforementioned issue. The presentation proposes two major solutions; technical assistance to make Nigeria's business environment conducive to businesses, and a financing solution that allows for flow of much needed credit to the MSME sector through the creation of a national development bank. The importance of funding MSMEs cannot be overstated; they are drivers of not only economic growth but serve service other development agendas such as poverty eradication, reduction in wealth imbalances, employment generation etc. Consequently, it is imperative to provide support to MSMEs, especially in developing countries where they lack access to finance, if we are to achieve a key portion of the SDGs.
This paper has referred to research done over the years and tries to study the trend of average
amount of loan disbursed to SHGs, amount of bank loans outstanding and its associated gross NPA from 2015
to 2020, agent-wise
Every Details related to the Startup India ,Modi Action Plane,Latest Startup Report by government,Important points,eligible legal entity,inter ministerial board, startup that is considered eligible,Funding Related questions, top flourishing cities, most profitable type of small businesses and their net profit margins, startups that are changing the face of virtual reality in India,benefit, anylysis
My write up which appeared in the Cover Story of April 2019 issue of Monthly Economic Digest Published by Maharashtra Economic Development Council. The article is about the incentives policies relating to MSMEs in India.
Indian agriculture sector experiences vicious circle of poverty which decelerate economic growth. Financial exclusion is one of the main reason of it. In India marginals and weaker sections are excluded from main stream of the economy. To achieve sustainable development, all sections of the people need to be come into main stream. This study is an attempt to understand the concept of financial inclusion, financial inclusion in India and micro finance. RBI defines “Financial Inclusion is the process of ensuring access to appropriate financial products and services needed by all sections of the society in general and vulnerable groups such as weaker sections and low income groups in particular at an affordable cost in a fair and transparent manner by mainstream institutional players”. The present study also tries to understand how micro finance lending facilitates the acceleration of financial inclusion. Micro finance lending is a strong weapon of financial inclusion. Micro credit provided by banks emerged as a major policy tool of financial assistance in the rural credit, particularly to the poor sections of the society. Micro finance by providing small loans and savings facilities to those who have been excluded from other formal services, acting as a key strategy for reducing poverty and discrimination.
Inclusive development means empowerment of weaker sections, SC/STs and women. In this context “financial inclusion “ owns its significance.
The Great India Startup Business Development Conference & Show; A National Convention for Startup Business & Entrepreneurship Bangalore April 20, 13 To register: www.thegreatindiashow.net/register
India's best micro finance companies to rely on..Merry D'souza
The latest issue of Insights Success, “India's Best Micro Finance Companies to Rely On” feature a few of the flourishing microfinance companies that not only help the consumers survive but have been empathetic & strong support throughout the pandemic to their consumers when the panic of losing income and missing loan repayment deadlines was high.
The presentation basically focus on the policy formed/designed by Government to protect/safegaurd the ideas of small Business, Entrepreneurs and Startups.
Insights Success Magazine, we have introduced The 10 Most Admired Non-Banking Financial Companies in 2018, in order to assist businesses to choose their right Non-Banking Financial Providers. Assessing the scenario in versatile perceptions our magazine has brought into light the companies.
Insights Success Magazine, we have introduced The 10 Most Admired Non-Banking Financial Companies in 2018, in order to assist businesses to choose their right Non-Banking Financial Providers. Specially featured Avanse Financial Services Limited, as cover story. Avanse Financial Services Limited is one of India's fastest growing education finance company
Financial Inclusion and Micro and Small Enterprises GrowthDr. Amarjeet Singh
The persons or firms linked with the either way of
financial transaction are known as participants of financial
inclusion financially included otherwise financially
excluded. The normal way of flow of money is routed
through banking system, post office, insurance and FBFC
channels. The MSE is financially included with operation of
saving account, current account or loan account with banks;
financial transaction with other government financial
agencies as well as some private sector NBFC. Recent
initiatives of Government of India and Indian Banking
system have accelerated the performance of financial
inclusion through various schemes such as MNREGS,
Jandhan, Atal Pension Yojna, MUDRA and so forth. The
MUDRA scheme, credit scheme for MSE, credit scheme for
KVIC & Coir firm, Kishan credit card, General Credit
Card are exclusive financial inclusion scheme for MSE
credit. Out of total size of MSEs, less than forty percent
units are getting benefits from schedule commercial banks;
as on 2017-18 only Rs. 1337 billion credit facilities given by
the lending institutions. The paper examines the current
status and potential prospect of financial inclusion at given
numbers of units and employment.
Indian agriculture sector experiences vicious circle of poverty which decelerate economic growth. Financial exclusion is one of the main reason of it. In India marginals and weaker sections are excluded from main stream of the economy. To achieve sustainable development, all sections of the people need to be come into main stream. This study is an attempt to understand the concept of financial inclusion, financial inclusion in India and micro finance. RBI defines “Financial Inclusion is the process of ensuring access to appropriate financial products and services needed by all sections of the society in general and vulnerable groups such as weaker sections and low income groups in particular at an affordable cost in a fair and transparent manner by mainstream institutional players”. The present study also tries to understand how micro finance lending facilitates the acceleration of financial inclusion. Micro finance lending is a strong weapon of financial inclusion. Micro credit provided by banks emerged as a major policy tool of financial assistance in the rural credit, particularly to the poor sections of the society. Micro finance by providing small loans and savings facilities to those who have been excluded from other formal services, acting as a key strategy for reducing poverty and discrimination.
Inclusive development means empowerment of weaker sections, SC/STs and women. In this context “financial inclusion “ owns its significance.
The Great India Startup Business Development Conference & Show; A National Convention for Startup Business & Entrepreneurship Bangalore April 20, 13 To register: www.thegreatindiashow.net/register
India's best micro finance companies to rely on..Merry D'souza
The latest issue of Insights Success, “India's Best Micro Finance Companies to Rely On” feature a few of the flourishing microfinance companies that not only help the consumers survive but have been empathetic & strong support throughout the pandemic to their consumers when the panic of losing income and missing loan repayment deadlines was high.
The presentation basically focus on the policy formed/designed by Government to protect/safegaurd the ideas of small Business, Entrepreneurs and Startups.
Insights Success Magazine, we have introduced The 10 Most Admired Non-Banking Financial Companies in 2018, in order to assist businesses to choose their right Non-Banking Financial Providers. Assessing the scenario in versatile perceptions our magazine has brought into light the companies.
Insights Success Magazine, we have introduced The 10 Most Admired Non-Banking Financial Companies in 2018, in order to assist businesses to choose their right Non-Banking Financial Providers. Specially featured Avanse Financial Services Limited, as cover story. Avanse Financial Services Limited is one of India's fastest growing education finance company
Financial Inclusion and Micro and Small Enterprises GrowthDr. Amarjeet Singh
The persons or firms linked with the either way of
financial transaction are known as participants of financial
inclusion financially included otherwise financially
excluded. The normal way of flow of money is routed
through banking system, post office, insurance and FBFC
channels. The MSE is financially included with operation of
saving account, current account or loan account with banks;
financial transaction with other government financial
agencies as well as some private sector NBFC. Recent
initiatives of Government of India and Indian Banking
system have accelerated the performance of financial
inclusion through various schemes such as MNREGS,
Jandhan, Atal Pension Yojna, MUDRA and so forth. The
MUDRA scheme, credit scheme for MSE, credit scheme for
KVIC & Coir firm, Kishan credit card, General Credit
Card are exclusive financial inclusion scheme for MSE
credit. Out of total size of MSEs, less than forty percent
units are getting benefits from schedule commercial banks;
as on 2017-18 only Rs. 1337 billion credit facilities given by
the lending institutions. The paper examines the current
status and potential prospect of financial inclusion at given
numbers of units and employment.
There is no limit to the financial benefits that an MSME registration certificate can proffer for your small business. Here is a comprehensive guide that will familiarize you with the numerous reforms introduced by the government for the growth of MSMEs in India.
Small and Mid-size Enterprises (SMEs) are companies with revenues and employees that fall below a particular threshold and contribute to the lack of productivity.
Types of financing,
availability of loan for a business,
features of loan for a business,
ways of loan for business,
financial management,
innovative financial services
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Milagrow IMT Study: Practices for SME Development from EU, North America and Latin America and Recommendations
1. presents a path breaking study on Best Practices in SME Development from Europe, North America and Latin America “Recommendations for Indian Policy Makers” Prepared under the mentorship of: Mr. Rajeev Karwal Founder Director Milagrow Business & Knowledge Solutions Dr. Anwar Ali Director Institute of Management Technology
2. Agenda Challenges faced by Indian MSME Sector Countries and Areas of focus Best Practices & Recommendations for Indian Policy Makers
3. Challenges faced by Indian MSME Sector Inadequate financial support Inability to promote their products & services in domestic & international markets Lack of support from Government organizations, large enterprises, etc. Lack of appropriate need-based training and development programs Lack of knowledge about low-cost brand communication solutions Unavailability of latest news, trends and technologies Lack of adequate networking opportunities Poor knowledge management
6. Government is supportive in investing huge funds in development of MSMEs in the economy which also reflects in funding of R&D efforts of small business
7. MSMEs account for almost 80% of employment, 62% of sales and 50% of exports
23. Business regulations have been largely simplified for the MSMEsVenezuela Canada USA Brazil Mexico Argentina North & Latin American Countries
24. Areas of focus Funding Structure Technology Upgradation Assistance MSME Policy Framework Role of Supporting Organizations Infrastructure Development and Marketing Assistance Training and Skill Development Programs
26. Funding Structure: Priority Sector Lending Best practice prevails in Findings Obama Administration wants lending to small businesses to be reserved at a much higher levels than the already existing levels. On an average, banks with more than $1 billion in assets typically devote about 21% of their commercial loan portfolios to small business loans while, community banks with less than $1 billion in assets devote 56%. Current Policy in India Indian MSMEs contribute 40% or thereabouts to industrial economic activity whereas their share of credit is around 10%. Most public sector banks do not even accomplish their MSME lending targets Recommendations Reserve 20% lending for MSMEs: Government must make it mandatory that like agriculture, the MSMEs must have atleast a 20% quota out of the total 40% priority sector lending quota. Recognize credit rating for easier credit: The commercial sector banks must recognize the government-approved credit rating agencies and disburse faster and cheaper credit with much lesser documentation. US
27. Funding Structure: Credit Guarantee Lending Best practice prevails in Findings Italy’s credit guarantee system takes the help of private funds and implements a 3 layer system, which helps in dividing the responsibility clearly in different levels. The Mutual Guarantee Institution, Banks & Government work together and credit guarantee is as high as 80% for direct lending & 90% for MGI lending . The fee is minimally less at about 0.125% In US, the Small Business Administration works in tandem with the Treasury Department and plans to increase the maximum size of its guaranteed loans for small businesses from $ 2m to $5m. Current Policy in India MSMEs have to go through a lengthy process for placing loans requests. CGTMSE in India gives only 75% guarantee on MSME lending and charges 1.5% as the fees Recommendations Disburse collateral-free credit faster: CGTMSE must work with the public & private sector banks, & the government organs at the centre & the state, to ensure that collateral free credit is disbursed faster Raise collateral free limit: Upto 100% collateral free credit for highest credit-rated MSMEs and at a minimal fee of less than 1% upto Rs. 1 crore. Treat CGTMSE loans differently: CGTMSE must make the norms for declaring a loan as NPA by Member Lending Institutions easier & transparent, so that they are not dis-incentivized. Italy US
28. Funding Structure: Access to Bond Markets Best practice prevails in Findings Government facilitates access to international capital market for MSMEs The financial structure is rebalanced through long maturity bonds Low-cost and collateral-free credit is extended Current Policy in India MSMEs in India have no access to international capital-market bonds Recommendations Recognize credit rating: The Ministry of MSME and the CGTMSE must recognize the credit rating given by the credit-rating agencies Facilitate access to international capital markets: CGTMSE should provide assurance against default for issuance of international capital-market bonds for the highest credit-rated MSMEs. The bonds such issued will come in without any collateral and at a much cheaper rate than the PLR in the traditional lending system Italy
29. Funding Structure: Reciprocal Guarantee Societies Best practice prevails in Findings Reciprocal Guarantee Societies (RGSs) issue certificates to improve the creditworthiness of MSMEs These certificates enable the MSMEs to seek loans from the banks at rates applicable for better credit-rated organizations The RGSs ensure that the credit rating of the borrowing MSME improves within stipulated time They also offer advisory and technical assistance to MSMEs and foster their partnerships with banks Current Policy in India The loans are disbursed to MSMEs as per their existing credit ratings No organization exists which can guarantee the improvement of credit rating of the borrower and thereby get the loan disbursed at a lower cost Recommendations Assist MSMEs to improve their credit rating: Reciprocal Guarantee Societies must be set up, may be even through Industry Associations with good track record RGSs must work towards improvement of credit-worthiness of the MSMEs, even as they ensure that they are not deprived of cheaper loans when they need it the most. Argentina
30. Funding Structure: Equity and Management Capital Best practice prevails in Findings Canadian venture capital industry plays a major role in extending not just equity but even managerial support and other resources to the MSMEs Brazil has implemented a “New Ventures Program” along with World Resources Institute, which aims to build competitiveness and promote long-term sustainability by providing skill-development, social networking and environmental benefits to the MSMEs. Current Policy in India Presently, the private & state-government venture funds as well as other organizations like SIDBI provide equity financing only Recommendations Mentoring & hand-holding MSMEs: The organizations like SIDBI, State Government venture funds, etc. must not only fund the MSMEs with equity financing but also provide sufficient hand-holding and implementation help through private partnerships Canada Brazil
31. Technology Upgradation: Access to Foreign Technologies Best practice prevails in Findings Italy is a member of PIN-SME association, which brings together several small technology businesses on a single platform MSMEs in Italy benefit as they get an access to the newer technologies at affordable rates from the member countries MSMEs of member countries are also able to gain access to EU-funded projects Current Policy in India Indian MSMEs do not get a platform where they can network with MSMEs from other countries and get an access to newer and affordable technologies Recommendations Provide opportunities for international partnerships: For the industries/ clusters, where Indian MSMEs have an inherent competitive edge, the Ministry of MSME should create platforms through institutions like NSIC or even private partnerships where they can network with MSMEs from other countries. This will not only provide an opportunity to Indian MSMEs to gain access to latest low-cost technologies, but will also enhance foreign trade Italy
32. Technology Upgradation: Assistance from Large Firms Best practice prevails in Findings National Strategic Framework (NSF) 2007-2013 in Italy focuses on : Instituting long term relationship between large enterprises & MSMEs Enhancing dialogue between the research sphere and the small businesses Current Policy in India No effort or long term strategic plan for encouraging large enterprises to assist and mentor small businesses Recommendations Involve large enterprises in development of MSME clusters: The Ministry of MSME in India should implement a long-term strategic plan and facilitate MSMEs to build long-term relationship with large enterprises & research supply institutes The Ministry of MSME, through PPP model, must incentivize the larger organizations in adopting clusters which are mainly into B2B/ ancillary business, to improve their technology absorption Italy
33. Technology Upgradation: e-Governance & e-Procurement Best practice prevails in Findings e-Procurement facilities including online certification is available Online alerts are sent to MSMEs whenever new business opportunities arise Has a complete electronic trade data-management system As a part of the e-Governance initiative, all the information related all policy changes, trends & new technologies is available online Current Policy in India No e-procurement & trade data management system available Unavailability of online information and processes for legal jurisdictions Recommendations e-Governance & e-Procurement, a must for easier compliance: Online mechanisms should be provided to MSMEs to carry out all the necessary transactions for conducting business in domestic and international markets Online access to rules and regulations, electronic methods for registration and electronic applications for government schemes, certificates, licenses and realization of incentives should be provided to the MSMEs Brazil
34. Technology Upgradation: Low cost ICT solutions Best practice prevails in Findings Brazil has SME Metasys, which has the objective to provide MSME with a complete and low cost ICT solution specially designed to improve their efficiency. This robust solution, which uses open source software and does not require special skills for its installation and operation. Current Policy in India Lack of knowledge about low-cost Information & Communication Solutions, which leads to loss of opportunities Recommendations Promote low-cost ICT solutions: The Ministry of MSME in India should facilitate MSMEs in procuring complete and low-cost ICT solutions to improve their capacity and productivity. Awareness of these tools should also be increased among the MSMEs Brazil
35. Technology Upgradation: Support for R&D Best practice prevails in Findings In Italy, Science & Technology Parks, Business Innovation Centers, Integrated Centers for Entrepreneurship Development and Incubators support innovation and transnational technology transfer with MSMEs in UK, tax relief is available to MSMEs, who invest in research and development (R&D) under the MSME scheme Current Policy in India No Government policy to include national technology excellence centers for the training & technical assistance to MSMEs Recommendations Create and promote an innovation and R&D culture: The Government sector institutions at the cutting edge of research and innovation can be opened up for use by MSME innovators, who otherwise struggle in getting funding and technology to convert their ideas to successful product launches. A method may be designed where the cost of such research help can be offset by taking a percentage of the successful projects through royalties, even as the IP belongs to the innovator MSME. Italy UK
36. MSME Policies: Cluster competitive programme Best practice prevails in Findings Division of labour between the different firms within the same local context comprising of large number of firms individually specialized in just one or a few stages of the production process, in a reciprocal arrangement and at the same time competing in the market with finished products. These reduce the cost of production due to standardization of components and technologies in the same/ similar sectors Extensive availability of productive resources (technical skills) at the local level make these clusters competitive in the international market. Current Policy in India No effective cluster competitiveness programme which can focus on providing value-added end-to-end solutions. Recommendations Develop integrated cluster competitiveness programs: The cluster competitiveness program should be revamped. Rather than giving the authority of these clusters to associations, which may or may not be competent, it should be given to bodies, which understand the value chain of the respective industry. These bodies must provide end-to-end solutions, which are benchmarked globally in terms of competitive technology and effective training. Italy
37. MSME Policies: Support for New Exporters Best practice prevails in Findings Export policies are designed to guide & encourage the development of sectoral partnerships. Technical assistance is provided to assist in designing and implementing export strategies. In “Support for New Exporters” programme, the MSME Under-secretariat provides advice to MSMEs located throughout the country on launching export operations including analyzing and diagnosing problems, training, and tutorials for designing and implementing a strategic export plan. Current Policy in India Monetary support is available for the new exporters but nothing in terms of educating, training and assisting MSMEs in designing the export plans Recommendations Enable and then subsidize: Special training should be extended to the MSMEs, who enter the international trade to avoid any problems during the process. Only the MSMEs which undergo these programs should be offered subsidies for foreign travel required for trade and export promotion Argentina
38. MSME Policies: Effective Implementation of Schemes Best practice prevails in Findings US legal framework promotes transparency in contracts, protection of intellectual property, and the regulation of fraud. The U.S. Small Business Administration ranks as one of the most effective public sector agencies in the world for the promotion of MSMEs. Current Policy in India In the past, Ministry of MSME has launched several policies and schemes for the benefit of the MSMEs. However, no reports are available in the public domain which informs about their reach and the effectiveness. A study conducted recently by Milagrow showed that 70-80% MSMEs are still unaware of the existing schemes provided by the Ministry. Recommendations Measure the effectiveness of the policies: The Ministry of MSME should implement and measure the effectiveness of its various schemes at the ground level through third-party organizations US
39. MSME Policies: Offsets in Government Procurement Best practice prevails in Findings The offsets provided by different countries to MSMEs in government procurement Canada: 43% Germany: 35% United States: 33% Current Policy in India No offset has been provided by Indian Government till yet. Although, a proposal in this respect has been made Recommendations Provide reservation for procurement from the MSME sector: Offsets should be provided to the MSME sector in the procurement done by the government and public sector units To determine the exact offset that should be provided to MSMEs, another comparative study is being done by Milagrow to analyze the procurement policies of nations across the world. The study will be released shortly Canada US Germany
40. MSME Policies: Encouragement for Green Businesses Best practice prevails in Findings Sweden focuses on the environment driven business development. The design for environment has been successful and has resulted in 13 projects through the participation of 122 MSMEs 7% MSMEs have comprehensive systems for energy saving in Sweden as compared to 4% in EU. 50% MSMEs apply at least simple energy saving measures as compared to 29% for the EU Current Policy in India No policy related to encourage MSMEs which are involved in doing eco-friendly businesses Recommendations Encourage Environmental Compliance at an early stage: The Ministry of MSME should encourage those MSMEs, which are involved in clean and green businesses by providing enhanced subsidies than available to large business. Stringent norms should be implemented to analyze the working of the MSMEs and incentives should be provided to them to develop and sustain their operations and products Sweden
41. Role of Supporting Organizations: Effectiveness Best practice prevails in Findings In Brazil, the supporting organizations work on effectiveness measurement along with Government Office of Small and Medium Enterprises, in Canada, is working within the government to ensure the procurement system treats MSMEs fairly Current Policy in India In India, the goals and targets of supporting organizations are neither highly specific nor monitored effectively According to a recent study conducted by Milagrow, “More than 97% acknowledge or choose to avoid giving direct answer on corruption & bribery” Recommendations Government Funded Support Organizations must have effectiveness targets measured by a third party: The supporting organizations should effectively work on specific targets and their working should be transparent. The effectiveness of these organizations should also be based on the feedback from the MSMEs in the respective areas through a third party. Canada Brazil
42. Role of Supporting Organizations: PPP Model Best practice prevails in Findings In Brazil, APEX & SEBRAE are two organizations which are private and have taken responsibility from Government in their respective sectors through an act of law and are functioning only for MSME development. SEBRAE is a private sector non-profit organization focusing on the SME development. It is a union of public sector and private sector and Brazil’s main fostering and research entities. Its been created by law and the Govt. and the business community have come together for common purpose. Current Policy in India All the supporting organizations are mainly controlled by government officials or the organs of the government and the Ministry Recommendations Encourage PPP to develop the MSME Sector: To enhance the performance and effectiveness of the supporting organizations in the MSME sector, the Ministry should establish a Public-Private Partnership model Brazil
43. Infrastructure: Incubators’ Assistance on Softer Aspects Best practice prevails in Findings With approximately 400 incubators and a well-developed incubation ecosystem, Brazil leads one of the most successful incubation movements in Latin America, through innovation and adaptation of incubator models to suit indigenous needs. Current Policy in India The incubators hardly exist in India and those which do, mainly focus on providing meager infrastructural resources only Recommendations Encourage Incubation with best in class practices: The incubation centers set by the Ministry of MSME should extend support on the softer aspects, to the MSMEs beyond the infrastructural resources, like networking & management assistance, etc. Brazil
44. Marketing Assistance: Advertisement & Promotions Best practice prevails in Findings In Brazil, the supporting organization Apex assists the MSMEs to market their products and services. Apex has also launched a portal, which is dedicated to promote MSME products only. SEBRAE, in Brazil, has 6 channels, which are dedicated to the MSME sector. These channels show MSME focused programs &news and also provide TV advertising options to MSMEs at special rates. Current Policy in India More focus on quality and export orientation than promoting/ selling the products in domestic markets Recommendations Incentivize promotion of MSME products through organizations like DAVP: The Ministry of MSME should incentivize organizations who advertise MSME dedicated channels & programs. It must also use the clout of DAVP to get special media buying rates for MSMEs. Brazil
45. Training & Development: Programs for Common Needs Best practice prevails in Findings Government of Mexico has implemented a program that provide subsidized training and technical assistance to SMEs. It starts with analyzing the constraints faced by MSMEs & then come out with a comprehensive package of integrated training & business support services required. They involve best in class organizations in identification of training needs, management and then executing the training programs. Current Policy in India Mainly tool-room based technical training is provided. Some quality-development training has been proposed but not effectively implemented yet. Recommendations Provide best in class training and have an industry and ‘management function’ wise plan: Similar structured and need-based training programs with constant feedback and control mechanisms should be implemented by Ministry of MSME to check the effectiveness The Ministry should also facilitate training programs for newer technologies and best practices, which are undertaken by large organizations to enhance their productivity and competence. Mexico