Economic Times and Lenovo present MSME Day
The MSME sector has been a key driving force for the growth of the Indian economy. The sector is expected to continue to expand this year. While the pandemic has necessitated the rapid adoption of digital technologies by many MSMEs, it has also led to increased opportunities, efficiency, and revenue for small business owners.
Presently, 63 million MSMEs in India account for close to 30 per cent of the Gross Domestic Product (GDP). The sector contributes to nearly 50 per cent of India’s exports. The sector is predicted to contribute to nearly $1 trillion to India’s exports by 2028.
MSME Day celebrates MSMEs and also explores the changing landscape of their businesses.
Event Schedule
| Time | Sessions |
|---|---|
| 3 PM - 3:05 PM | Overview by The Economic Times Senior Editor |
| 3:05 PM - 3:25 PM | Masterclass Session 1 |
| 3:25 PM - 3:35 PM | Q & A Session |
| 3:35 PM - 3:55 PM | Masterclass Session 2 |
| 3:55 PM - 4:05 PM | Q & A Session |
| 4:05 PM - 4:30 PM | Session by Lenovo Leadership |
* Indicative schedule
Masterclass 3 - Session 1
Digital Transformation of MSMEs
Manpreet Singh Ahuja
Chief Digital Officer, PWC
Talking Points:
- Addressing the skill gap of MSMEs by using Technology as a leveller. Lack of skilled manpower to run high-tech machines and equipment, less trust in technology, and high capital investment for equipment are key impediments that MSMEs need to address.
- The incentive for businesses to fully embrace digital technology would be to provide a digital ecosystem that provides end-to-end solutions, from finance access, skilling, payments, operations and management. How to achieve this.
- The incentive for businesses to fully embrace digital technology would be to provide a digital ecosystem that provides end-to-end solutions, from finance access, skilling, payments, operations and management. How to achieve this.
Masterclass 3 - Session 2
What are the Game Changers for MSMEs
Amit Sachdev
COO, M1xchange
Talking Points:
- MSMEs must develop a better understanding of the ways in which technology can help drive their business optimally. Technology will enhance MSMEs’ efficiency, reduce costs and expand market reach, at domestic and international level.
- Productivity gaps between MSMEs and large corporations have widened in the last 10 years. This can be addressed with the use of right technology tools.
- Integration of technology into daily business operations, like account management, consumer engagement, with digital payment methods will be greatly help MSMEs to compete with large corporations.