SME WORLD January-2019.Pdf

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Dr.Gajavelli V S Dr. Deepa Dani

SMEs' Growth: the global value chains.It is in this and generate working capital mars context, attracting Foreign Direct SME development further. It is Why FDI Imperative? Investment (FDI) into SME sector believed that foreign equity flows in India's SME sector has truly played a becomesimperative to all the the SMEs can allow small firms to crucial role in the last several stakeholders including SMEs, extract opportunities and position decades in contributing to job industry associations and the themselves better in the global creation, output and industrialization facilitating policy-making agencies. markets. However, several demand in rural and backward regions. The Tactically, such an additional foreign side and supply side challenges faced SME sector accounts for over 40% of investmentis very much needed as by Indian SMEs result in low FDI gross industrial value addition and the country has to grow at a rate absorption propensity. over 50% of total manufacturing higher than 7% to 8% of GDP to find First and foremost, the size does exports. That way SMEs now occupy jobs for millions of additional matter and it reduces SME capability a position of strategic importance in workforce that get added to the job to absorb large chunks of foreign India's economic structure and future market every year. This becomes all equity. Going by this logic, the prospects. the more important to sustain the corollary seems logical. A small Given the liberal business existing growth rates in the long-run foreign direct investor is more ideal environment last three decades in the and maintain India's competitiveness as a match. But bringing them countryand the very convincing on an enduring basis. together and building confidence positive outlook of the Indian poses a challenge. SMEs have Channeling FDI into SMEs: limited access to information economy, SMEs plan to scale-up The Challenges their operations, enhance capital especially related to prospective expenditure and employ more Small and Medium Enterprises foreign suppliers, their clients and people. Besides, SMEs are aspiring (SMEs) are the worst hit since the investors. to expand their businesses to Structural Adjustment & Secondly, SMEs have less ability to overseas. In spite of the SMEs Stabilization Program(SASP) started withstand business cycle shocks and imperative in India's growth and in 1991. This is because the market volatility. They are severely sustaining the market momentum, the economic liberalization in Indiahas affected during cyclical downturns sector is facing daunting challenges created complexities for SMEs' and impacted more intensely by and does not get the required support operations. SMEs are small. They are change in policies as compared to from the concerned Government fragile and unfortunately fail to enjoy large firms. The short-term agencies, banks, financial institutions the advantages of scale economies, implication of demonetization and and corporates which is proving to be global networks, access to adequate introduction of GST on SMEs are an impediment to their optimal scale credit and ability to perform R&D, well documented. Naturally,a risk- and growth potential.The sector is the prerequisites to thrive in a averse foreign investor is also handicapped with the required globalized set-up. discouraged to take such exposure. expertise and technology to realize There are other challenges too. Lack Thirdly, deficiency of talented and their aspirations of expanding into of adequate financeto fund projects skilled human capital in SMEs

FEBRUARY, 2019 5 www.smeworld.asia FDI.Irrespective of whether FDI is seeking resources, a market, strategic interest or location advantages, the SMEs and the supporting environment should be robust enough to attract FDI. Only if they are, shall foreign equity flow in them. The FDI inIndian SMEs: The Value Proposition prevents knowledge to emerge as a accounts for Rs. 22.27 lakh crores. SMEs are financially sensitive. A comparative vantage point. The only The balance of Rs. 4.69 lakh crore non-debt supportive finance in the comparative advantage that SMEs amounts to loans extended to form of FDI is a win-win for both the enjoy is low labour cost, which MSMEs.It is not surprising that investor and the SME investee. unfortunately is fast vanishing. banks shy away and extend a small Therefore, input and output proportion of credit to this segment.It Over the years, select SME sectors efficiencies are low in India. This claimed that it is not only a credit such as textiles, food processing, again dissuade foreign investment to worthiness deficit but also the paper and engineering goods among flow-in. liquidity problemsthat SMEs face others have been recipients of FDI. Despite the fragility, FDI have found Fourthly, within the financial that account for this credit behavior by banks. Thishas implicationson these sectors attractive for various framework, owing to the fragility in reasons. Alongside availability of SMEs with respect to economic and their attractiveness for FDI. An industry segment which is considered cheap labour, foreign investors enjoy policy changes, credit flow to SMEs other location advantages which from financial institutions has been risky by domestic banks will obviously attract less foreign these SMEs provide. investment. SMEs dealing in engineering goods Small and Medium Enterprises In India, a significant chunk of for instance are big enough to have a design facility, but not an R&D (SMEs) are the worst hit since the inward FDI flows into services and computers segments. Sectors in facility. “This creates an opportunity Structural Adjustment & which cost of hiring and firing is which can be cashed on by both Stabilization Program(SASP) comparatively lower than in foreign investors and SME firms”, states Mr. Rustom Contractor,MD, started in 1991. This is because conventional manufacturing industries. This FDI behavior forces Rakhoh Industries, Pune. Foreign the economic liberalization in us to rethink and review how our firms get a low-cost production Indiahas created complexities for archaic labour laws discourage center. On the other hand, he adds, a foreign investor using an Indian SME SMEs' operations. SMEs are small. investment flow in labour intensive employment generation sectors. facility transfers technology and tacit They are fragile and unfortunately Notwithstanding the above knowledge during the normal course fail to enjoy the advantages of challenges, the basic question here is: of operations. FDI entry brings in professionalism and market access. scale economies, global networks, how strong are the motivations for foreign equity participation in SMEs? This technology transfer will happen access to adequate credit and A study by Organization for more seamlessly, where FDI uses ability to perform R&D, the Economic Cooperation and Indian SME facility over those cases prerequisites to thrive in a Development (OECD) maintained where FDI plans to have a 100% that skilling the workforce and owned subsidiary. It may also prove globalized set-up. subsequently directing them to gainful if Tier I and Tier II suppliers knowledge based and an up-scale of foreign firms (many of them suboptimal and at the best erratic. economic activities could be a SMEs) are required to have joint Preference to extend credit to large possible answer to enhance SME's venture (JV) with the original enterprises over SMEs is widely market penetration and equipment manufacturer (OEM)'s acknowledged. Arecent study competitiveness. suppliers based in foreign claimed that of the total credit In the Indian context too, this may be countries.This way, the OEMs ensure extended to Industry of Rs. 26.96 a desirable proposition to attract that quality and standardization is lakh crore, loans to large enterprises maintained. This ultimately results in FEBRUARY, 2019 6 www.smeworld.asia SMEs have immense potential. Exploiting the under-tapped growth of SME sector will unleash a host of socio-economic and financial advantages. tech transfer, following of best escalation on account of delays in practices and SME's integration into land acquisition and subsequent Though the government has complex and upscale supply chains. rehabilitation and compensation. This initiated Make in India, Start-up Interest rate differential offers arrangement can potentially reduce India and the like, much needs to their transaction costs too. another gainful opportunity for be achieved in terms of reaching foreign investors and SMEs. Interest Additionally, foreign firms can rate is low in developed countries.In remain asset light with low capex and the objectives of these campaigns. contrast, any structured loan in India focus on their operating strengths Only if their benefits trickle down, while keeping exit costs low. is at least 10%. This differential will growth be equitable, absorb allows foreign firms to bring cheaper Overall, the ability to cope with money to India for production. possible downside risks depends on excess work force and reduce Cheaper money, expands profit how critical is the SME's regional imbalances. margins, gives pricing power and contribution in the supply chain and enhance export earnings. A the strength and motivation of the depreciating rupee only enhance foreign investment in the SME. Though the government has initiated competitiveness, adds to the export Given the Indian business Make in India, Start-up India and the earnings, making production in India environment, there is value in like, much needs to be achieved in highly lucrative for the Indian channelizing FDI into SMEs and it's terms of reaching the objectives of these campaigns. Only if their benefits trickle down, will growth be equitable, absorb excess work force and reduce regional imbalances. Policies will have to be structured in a way that foreign capital gets attracted to and channels itself into SMEs. The initiatives will have to be tweaked to operate more effectively in favor of SMEs – the development of which will result in equitable gains. An OECD study stated that developing innovation capability could be critical to enhance the exporting firms and foreign investor a win-win situation for both the competitiveness of SMEs (OECD, companies alike. sides. Themantra therefore should be 2000). The same study argued that A recent development which is to attract FDI, not to invite. globalization on one hand creates stillunder consideration will allow Channelize FDI into SMEs: competition among low-wage foreign firms to have two separate Ideal Policy Response countries. On the other, it creates agreements with their Indian investee avenues and incentives to acquire company. Industry experts explain The invisible forces of the market knowledge and access markets. This that the first agreement, will be a economy often fail to facilitate will allow SMEs to develop lease agreement between the 2 equitable FDI channeling. SMEs are competitive advantages if they parties. It will allow land of the an important sector.It is here that the continuously innovate. Innovate their Indian investee to be leased to Government has to respond through processes, products, services, designs foreign investor for a fixed rent every policy to facilitate the process. and technologies. month. The second agreement will The Government has to obviously On the same lines, within the Indian bethe JV related to operations and begin with making the FDI pie itself business environment, the process. This new arrangement will bigger and deeper. Therefore, government needs to encourage ensure that the SME gets at least the alongside the openness of the FDI innovations in SMEs. Upgradation of rent even when the JV becomes not policy, the supportive policies which skill and human capital capability so financially viable. This create a facilitative environment for will attract FDI absorption. The arrangement favors SMEs as much as foreign firms and their operation will government can design its initiatives it favors the foreign firm. Foreign be critical. in a way that innovations and investors usually suffer cost FEBRUARY, 2019 7 www.smeworld.asia capability enhancement be networking of potential investors encouraged in SMEs with greater with Indian investees. Platforms such backward and forward linkages. An as industry delegations and SME which is more “linkage-prone” confederations to network with will yield greater spillover impact. Venture Capitalists, foreign start-ups Hence, to begin with, the and stakeholders will help connect identification of these SMEs and local SME suppliers to MNCs and developed markets or in emerging those with high growth and foreign investors. Besides, efforts markets such as China or South employment generation potential such as the recent Ministry of Korea the state and the Government sectors have to be done.It is in these MSME-CII Global Summit go a long apparatus always played a decisive sectors that strategic encouragement way to appraise SMEs on the role in strengthening their SMEs. for innovations could lead to making significance of global value chains, This only points to a much more the sector robust. the importance of connecting to the clear and robust sector-specific FDI As a precursor, the government global platform and also the current policies for the betterment of Indian should address specific SME trends and best practices to aid their SMEs in particular and for the concerns. Lessening SME fragility profitable integration with global growth momentum in general. remains the core. Strengthening the value chains. SME itself is most important. SMEs have immense potential. About the Author Reduction in administrative hurdles, Exploiting the under-tapped growth allowing better credit flow and of SME sector will unleash a host of - Dr Gajavelli V S is a Professor avoiding harsh policy changes is socio-economic and financial and Chairman,Centers of Excellence critical. advantages. for Sustainability, Growth & Development at Institute of Once the sector is fairly strong, The Way forward Management Technology Nagpur, channeling FDI in SMEs will help India. He has more than 26 years of The need of the hour is a very them evolve in terms of networking, experience in research, management holisticapproach to the various issues processes, inclusion in global supply education, conceptualization and chains, product capabilities, faced by SMEs – such as finance, administration of executive governancebesides enhancing their innovation and technology – by an education programs, in-company risk appetite and tolerance. While effective and proactivepolicyand also training programs, faculty supportive handholding by the development programs and concerned Ministry and industry consulting. The country has already seen the associations. There has to be a - Dr. Deepa Dani is an Assistant coordinated effort across the positive impact of FDI in retail on Professor at the Ness Wadia College initiatives of ease of doing business, small and medium enterprises and of Commerce, Pune. She has over Skill India and Make in India to eight years of teaching experience is very crucial to the overall ensure that the problems of SMEs are and four years of research growth and sustainability of the effectively addressed and their access experience in national and to the global supply chains enhanced international organizations. Indian economy in the global by attracting FDI. A Cambridge Commonwealth market. In order to sustain in the The country has already seen the Scholar and a University Gold global competition, Indian SMEs positive impact of FDI in retail on Medalist in her masters, her areas of need to constantly innovate, small and medium enterprises and is interest include International very crucial to the overall growth and economics, Macroeconomics and acquire newer technologies, and sustainability of the Indian economy Development economics. Her they need to adapt to the changing in the global market. In order to doctorate has been in the area of Foreign Direct Investments.She has technology so as to continue its sustain in the global competition, Indian SMEs need to constantly co-authored two text books and has stake in the global markets. innovate, acquire newer few research publications to her technologies, and they need to adapt credit. Dr. Deepa is also recipient of numerous national and international to the changing technology so as to credible operating ethics are scholarships and awards for continue its stake in the global indispensable for attracting foreign academic excellence. markets. The recent history has equity in the long-run, the shown that doesn't matter whether in government needs to facilitate the

FEBRUARY, 2019 8 www.smeworld.asia SME World Bureau

J K Gupta, Dr. Mahesh Gupta, CFO, Tata Technologies CMD, Kent RO Systems Ltd. This is a forward-thinking, growth- The budget is progressive and it has oriented budget with a special focus surely covered the issues that are for all, bridging the rural urban existing in the economy. The farm divide, while embracing modern sector was depressed and finally, digital technologies for the holistic they will get relief. development of the nation. The The government has planned to give initiative to create one lakh digital 12 crore farmers 6000 rupees. This is villages in the next five years shows a big move which will uplift their its commitment to bridging the current condition. It will also digital divide. The government's generate industrial demand and boost recognition of the importance of production. Moreover, an increase of clean energy to build a pollution-free gratuity is again good for the welfare Firstly, the government's focus on India is evident through its Vision of the people. the rapid adoption of AI in India by 2030 roadmap. The initiative announcing initiatives like the envisions India driving on Electric Furthermore including the below the National Center for AI and a Vehicles with renewables becoming poverty line in the provident fund National AI Portal, is a step in the a major source of energy. network is again a good move by the right direction to drive technology government. adoption in the country. At Intel, we Snehashish Bhattacharjee, have been working on various AI-led Global CEO Denave. Dinesh Agarwal, initiatives with the government and will continue to collaborate with the The budget gives much awaited Founder and CEO, India Mart country in its digital transformation technology push for the fast paced By allowing businesses with less mission. Secondly, the Budget also Indian economy. The CoE of than Rs 5 crore turnover to file GST pointed out the growth in the Artificial Intelligence (AI) reaffirms returns quarterly, we have moved telecom sector; this definitely government's intention and interest another step forward in ease of doing provides impetus towards building a in pushing India to develop as hub of business. strong 5G ready ecosystem in the emerging technologies. It shall also country. Additionally, the prove to play a pivotal role in Expansion of rural industrialization government has set a goal to create 1 massification of ground-breaking using modern technologies has been lakh digital villages in the next 5 technologies as well as providing identified as one of the nine priority years taking technology penetration headwind to the ongoing skill sectors by the government. This will to a new level, that can help build a development and job creation give a huge boost to the MSMEs in truly digital India. agenda. It is a huge opportunity for the country. the tech start-ups, and the Sampad Swain, contribution of India Inc. in the Prakash Mallya, initial stages of implementation shall Vice President, Sales and Co-Founder &CEO, Instamojo prove to be significant. Marketing Group, Intel Although an interim budget, the The budget overall is positive and Today's Budget clearly showcases anticipation had been high across covers the entire gamut of economic the importance of a digital-first India various sectors – thus indicating the pillars in one go - farmers, youth, and the government's commitment to focus areas to be covered by the start-ups, women, middle-class drive innovation and technology government. The scenario however segment, defence, green energy, advancement in the country. With the looks positive for the MSMEs, given industries etc. It promises to make government setting a target to the initiatives announced by the social security accessible to the become a $5 Trillion economy in the government. While ease in obtaining unorganised segment. The intent next 5 years, Intel believes that loans for MSMEs continues to with which the budget has been emerging technologies like Artificial remain the need of the hour, designed will be best experienced Intelligence (AI) and 5G will play a additionally aided by the with an effective execution. crucial part in this vision. government's 59-minute loan portal, FEBRUARY, 2019 9 www.smeworld.asia The government's mandate of 25% of goods procurement from SMEs will help the sector scale up, not only in terms of quantity, but will also enable wider reach, thus expanding to different markets. This budget has opened doors to a new focus area – women entrepreneurs in the MSME sector.

the hike in the GST threshold has naturally fuel the start-up ecosystem, target for current as well as next certainly brought about a major relief which is fundamentally essential for fiscal, the FM took rating agency and for MSMEs. Additionally, the the nation's growth. Addressing the investors in to confidence by government's aim to empower 1 Angel tax issue, easing of norms for explaining the need for supporting Lakh villages digitally only gives us start-ups working with the farmers which was well received as further hope to identify an addition government and faster deployment of seen by the market reaction. of more MSMEs in the country, the Rs 10,000 crore fund are clearly Overall good interim budget sending which is currently populated with 6.3 areas to focus on to further spur the right signals. crore enterprises, given that digital growth, innovation and employment adoption by small businesses has and will also help start-ups reach always been a challenge to fight their escape velocity.” Rajendra Chitale, through, for the fin-tech sector. CFO at Crayon Software Further, the reduction in the GST Prashanth G J, Experts India Private Limited slab from 18% to 6% could be a CEO at TechnoBind great move to encourage new and It's a budget with many sections of aspiring entrepreneurs to begin new The one thing that stood out in the the society being the beneficiaries. It ventures. Budget is the putting up of the is specially a poor and middle class Vision 2030. While there are no centric budget as it increases the The government's mandate of 25% details available as yet in terms of money in these households. This can of goods procurement from SMEs the implementation of this vision the trigger consumption and lead to will help the sector scale up, not only fact that the government is thinking further growth. Phasing out human in terms of quantity, but will also long term is well appreciated. intervention in tax returns, enable wider reach, thus expanding verification and scrutiny is a good to different markets. This budget has The focus on the Digitisation will go initiative which can help reduce opened doors to a new focus area – a long way in improving the social corruption. Overall, it is a good women entrepreneurs in the MSME and economic fabric of the country - budget. sector. Supply of goods to the be it creation of jobs, uplifting the government will help women-owned lower end of the society reducing the Rajesh Begur, SMEs and MSMEs achieve stability income gap and many more. The Founder & Managing Partner, in business, and scale-up further. announcing of the 5 Lakh Digital Villages is really welcome. It will go ARA LAW a long way to leverage the benefits Though an Interim Budget, today's of technology right up to the grass announcements come as a hearty root level. Especially in a country welcome, especially for farmers and like India which has always been the long-neglected middle-class challenged from a penetration of citizens of the country. The Budget technology this will be a big boost. also provides impetus to the Also, another good thing that we got unorganised sector for the first time, from today's budget is Income Tax the defence sector, the agriculture returns being processed within 24 sector and also continues to hours. While one needs to wait and encourage young India through its watch in terms of the practicality of efforts under Startup India, Stand Up this but it's a welcome move in the India and the MUDRA Scheme. right direction. The budget also serves as a relief Overall a pretty good budget!!" factor for developers, real estate companies and homebuyers, as it Ankur Pahwa, Krishna Raj Sharma, extends the benefits under section Partner and National Leader, 80(i)BA for 1 more year for all Director & CEO at iValue housing projects approved till end of E-Commerce and Consumer InfoSolutions Internet, EY India 2019-20. The proposal to extend the Despite being an election year, it's exemption period of levying tax on “The government continues to good to see Government allocating notional rent and on unsold recognize and reiterate the fact that money where its required - farmers, inventories, from 1 year to 2 years, India is world's second largest start- middle class families, pension from the end of the year, will be a up nation along with one of the most scheme for unorganized sector, more push factor to encourage more youthful populace. The allocation to health, education and activities and investments with the Government's impetus on digital, defense. sector. With increased budgetary innovation and the power of allocation set aside for Infrastructure, transformational change will Despite missing out on Fiscal deficit we may also see much positive

FEBRUARY, 2019 10 www.smeworld.asia activity within the sector, vis-a-vis railways, roadways, waterways and shipping. This, in turn, will certainly benefit and pave way for a further incremental robust GDP. It is heartening to see that, for the first time, in this Interim Budget, the Interim Finance Minister articulated the 10 Dimensional Vision 2030, has laid out the path to successfully exemptions thereby giving an wherein leaders, irrespective of their work out a balancing act. He has impetus to consumer spending. We political affiliations, hopefully agree given tax breaks, enhanced benefits welcome the continued support on a common agenda for the country while not increasing taxes – and yet, provided by the government in and are working in a concerted has shown a roadmap that will keep enhancing the opportunities for new manner towards the growth story of fiscal deficit in control. businesses to flourish and contribute to the government's vision of Make India. This unified approach in itself For families which have more than in India. is sure to enable the nation to one house – one in the home-town leapfrog towards its 2030 goals and the other in a location where , family members work or have a job - Manoj Kumar Pansari Akshay Singhal, currently, income tax on notional Chairman and Managing Founder, Log 9 materials, rent is payable in such cases i.e. if Director, Astrum. one has more than one self-occupied From tax-break for middle class to Quarterly filing of GST returns for house. Considering the difficulty of schemes for farmers, even SME and startups is a great relief. the middle class having to maintain unorganized sector employees and However, not much has been offered families at two locations on account small business got benefitted in this for the energy sector. We have of their job, children's interim budget. What this budget is education, care of parents etc, missing is the mention of the Hon'ble Minister manufacturing plants which is mentioned a proposal to coming in full fledges to India. exempt levy of income tax on Hopefully we will see something on notional rent on a second self- manufacturing plants in the actual occupied house. budget but overall this budget is The benefit of rollover of praiseworthy. capital gains under section 54 of the Income Tax Act has Rajiv Talreja, been proposed to be increased Serial Entrepreneur and from investment in one residential house to two Business Coach. residential house for a tax Keeping the politico de facto aside, I payer having capital gains up believe this is a good budget for the targets for major Electric Vehicles to Rs 2 crore. This benefit can be MSME. A 2% interest subvention for deployment in India by 2025, our availed once in a life time. The loans up to Rs. 1 crore, is certainly a current power generation is just not Hon'ble Minister gave the example step in the right direction. Most sufficient to support the same, of Mumbai, wherein a family sells a importantly, the Government has moreover battery imports in this house in South Mumbai and buys opened a new market for the sector will drain our foreign two houses in suburban Mumbai, homegrown entrepreneurs by exchange reserves in a big way." and the benefit of this was availed allowing sourcing from MSMEs only on one of the new homes. through Government up to 25%, Dr. Niranjan Hiranandani, Describing this as something that is including 3% from women-run President (Nation), National becoming a norm across urban organisations. Furthermore, Real Estate Development centres in India, the Hon'ble Minister Government e-Marketplace (GeM) Council (NAREDCO), said this would help families in a has transformed procurement by similar situation. making it transparent, thus giving For real estate in general and MSMEs an opportunity to sell their housing in particular, this is a Rohit Mohan Pugalia, products through GeM. Revisions in positive budget. For the economy, it CEO, Soch Foods the GST slab rates, would be an focuses on the farm sector and the added welcome development. middle class. I would rate it as “9 out One key take away from the Union of 10”, because the Hon'ble Minister Budget is the relief on tax

FEBRUARY, 2019 11 www.smeworld.asia Nityananda Rao

According to Government of India statistics of 2016, there are 68 Million SMEs in India. This is 11Million more than earlier survey in 2011 (57 Million). These SMEs contribute around 40% of India's GDP and provide an employment of around 45% of total needs. During the last 2 years,SME's are comfortable with GST and their business is growing. Abolishing earlier taxes helped Manufacturers to pay less tax. GOI has smoothened the process of tax returns, income tax returns and removed many hurdles to do business. So SME's growth is expected to happen due to these measures and an external factor like technology adoption too. The fact that 95% of these SMEs have 1 to 5 employees and based on our market research, we believe, only 30% of SMEs have an access to computer & software. This poses a grave challenge.

hy SMEs are afraid of that Cloud ERP will make him loose product promotion or reach to ERP Solutions? his job. customers etc. But, they don't know W 6. Huge Hardware, Software and that these solutions are on CLOUD. During our sales activities, we met Implementation Costs. Recurring So adoption of cloud ERP is driven many prospects that are terrified by ERP maintenance costs make SMEs by the increased competition, ERP implementation and they are to be afraid to touch ERPs. reduction of profit margins, lack of scared even to talk about Cloud ERP. How Clound ERP helps Business? resources and interest to grow fast Few reasons for this are as below. etc. So Businesses are forced to go Last 5 years, we have seen an for latest technology. 1. Other ERP implementation that increase in SME interest to go for has gone bad - Many large ERP Cloud ERP. It involves educating the AcTouch.com comes with companies sell user licenses to Business owners on the advantages functionality like Sales and Invoices, customers, but not having a good of Cloud ERP, its security and how it Purchase and Goods Receipts, implementation partner killed the will help them. Their main concerns Inventory Control, Payments and implementation. are how data is secured and not made Receipts, Manufacturing, General 2. They are happy to runtheir available to competitors and Ledger and Taxes. To reach out to Accounting software as ERP with Government agencies etc. customers, we started by educating adjustments. them, showed the benefits of an Post GST implementation in India, improved process, controls etc. It's nd 3. Other business owners, New and 2 Generation huge and tedious process. But it Accountants and Consultants gave entrepreneurs are preferringCloud helped SMEs to understand the them advice to go against Cloud ERP solutions and want to reduce values. Our Freemium model, 30 ERP. their costs and increase profitability. days money back guarantee increased 4. Few Hardware vendors use the This interest increased when Cloud the confidence to try the applications. fear of customers to sell their ERP came with same features at th Why Small Industries should go 1/100 cost of a regular ERP with full expensive hardware, as they don't for Cloud ERP Solutions? want to leave their “cash cow” for data security. Important is, ERP is not a magic their future business. Many business owners are aware of wand that solves all your problems. free software and they use Gmail, 5. IT person in the company is afraid So, focus on your top 10 issues to be Facebook, WhatsApp etc. to do their FEBRUARY, 2019 12 www.smeworld.asia Customers who resisted the initial changes, slowly started realising the benefits and today nearly 15% of our customers have brought their second business or family business on AcTouch.com.

resolved from Cloud ERP and later fix the rest one by one. Reduced Total cost of ownership (TCO). You can save 40% to 50% of your annual IT budget. You don't need to purchase Hardware, Network or licensed Software to run Cloud AcTouch Technologies ERP as the solution is completely on Cloud and there is no data in local AcTouch Technologies is one of India's leading fully-integrated Cloud ERP machine. Data is safe and well (Enterprise Resource Planning) platform built for providing end to end protected. SaaS (Software as a service) services to SME's. 2. Better ROI – Return on Based out of Bengaluru, AcTouch was founded jointly by Nityananda Rao, Investments and Sunish Ankolekar, a marketing brain to bridge the gap in the ERP market that merely focussed on accounting solutions rather than addressing Once you save money on Hardware, the needs of a business owner. Thus began the journey for AcTouch & Network expenditures, now you launched their products in 2014 to provide a holistic approach in assuring follow some of the international best true value to the ERP requirements of SME's. practices built in the ERP would give more benefits and improves The product and services offered by AcTouch range from automating key productivity. Reduction of unwanted functions of Manufacturing and Trading Businesses like Inventory process, data duplication is reduced. management, Import and Export, Billing and Invoicing, Manufacturing Now you see the immediate benefits. process like Production, Sub-contracting and Job works with Financials like Payments and Receipts and many more. Recent addition to the list of AcTouch.com, Cloud ERP systems, services is the Mobile Apps for Sales Force and Dealer Management becomes your personalized IT team, programmes. who works for you 24X7 and you pay only for the services. The customer profile of the company ranges from ecommerce, New Age Technology to Manufacturing companies, from Traders to Consultants. AcTouch.com comes with AcTouch has a client base of 200+ customers and is associated with big names such as Fine Switches, Axiom Controls, Falcon Garden Tools, functionality like Sales and Invoices, WoodMac, Asian Cranes, IM Safety Devices, IIM Bangalore (MARS Purchase and Goods Receipts, Team), URDoorstep.com, Magiccrate.com, Karnataka Polymers, RenewIT Inventory Control, Payments and systems, Energy Efficient Lights, AdPac, Champion Extrusions etc. Receipts, Manufacturing, General the customers, we had to go to Ledger and Taxes. To reach out to Cloud as this way we could reach About Nityananda Rao customers, we started by educating customer in Offline as well in Online mode. Ensure that you are Nityananda Rao, (BE, PGDGM them, showed the benefits of an also present in ONLINE mode and INSEAD Alumnus), is the improved process, controls etc. where your customer buys. CEO of AcTouch Technologies with 20+ years of experience in Customers who resisted the initial ERP, Banking and Treasury 3. Helps to define a process and changes, slowly started realising the Solutions. He is a Mechanical makes people accountable for their benefits and today nearly 15% of our engineer who worked on shop- activities customers have brought their second floor with CNC Machines, SP- business or family business on 4. Define business workflows and 300 like Injection Moulding AcTouch.com. Few of our customer process. machines. He is a authority on claim that they started saving nearly ERP and it's features. Prior to Many Cloud ERPs like AcTouch.com 60% of their time and their starting AcTouch Tech, he comes with business workflows and productivity improved by 50%. Now worked with Infosys, Misys, you can define or set your own a dayit's a Social recognition for Murex etc managing APAC process. SMEs to move into the new region as profit centre. 5. Win against your Business technologies like Cloud or use Competition – Same information is Mobile Apps for their Sales Force or available to everyone and to win Dealers etc. FEBRUARY, 2019 13 www.smeworld.asia Dr. Shyam Sreekumaran Nair

atent counts can be less than 500 employees are Patenting in India classified as small entity. At the time considered as a good According to the 2016-17 Annual of filing, if the household income of proxy for gauging the Report of the Indian Patent Office P the individual inventors is not more (IPO), the top five patent filers in innovation capabilities of a than $177117 (three times the median India are Qualcomm (1840 country. Along with firms household income which was applications), Samsung (706), reported as $59039 in 2016), the (both large and SMEs), Huawei (625), Microsoft (589) and inventor is classified as a micro universities, research Philips (557). The top five Indian entity. It is to be noted that if the institutes and sometimes patent filers are IITs (400), Wipro household income is triple that of the (226), CSIR (225), Mahindra & individual inventors file for median while renewing the patent, Mahindra (205) and BHEL (174). patents. Unsurprisingly large the assignee will be treated as From the data given above, we can firms (with their large R&D smallentity and not micro entity. budget) and universities According to 2013 Small (generous research funds Business from the government) file the Administration maximum number of study, patent per patents. Universally, SMEs employee ratio is are not prolific patent filers higher in small firms than large when compared to large firms. firms. Lack of awareness, For filing a patent though cannot be ruled out, in the US, large is not the important reason firms have to pay for SMEs not filing enough a fee of $300. The patents. The cost of filing and corresponding maintaining a patent, which fees for small firms and micro entities are $150 conclude that foreign firms are more is very high, is the main (half that of large firms) and $75 (one prolific patent filers in India than deterrent. In this article, I fourth of large firms) respectively. In their Indian counterparts. Also, IITs compare the cost of filing US, a patent is to be renewed in its and CSIR are more prolific patent and maintaining a patent for fourth, eighth and twelfth year. A filers than the TCS (159), Infosys, Reliance (both <30) etc. The Annual the Indian SMEs with their large firm will pay a renewal fees of $12600 for a patent if the patent is to Report does not comment about top American counterparts. be kept live for 20 years ($1600 in SME patent filers in India and share of SME patent filings as a percentage Patenting in US the fourth year, $3600 in the eighth and $7400 in the twelfth). Just like of total patent filings. The The United States Patent and filing, small entity pay only half the information on SMEs is limited to Trademark Office (USPTO) classifies renewal fees that large firms pay ($ how IPO, in association with industry the patent assignees as large entity, 6300)and micro entities pay only one pressure groups like FICCI, CII, small entity and micro entity. Not for fourth of what large firms pay ASSOCHAM and others, are profit firms and firms which have ($3150). organizing awareness programs to FEBRUARY, 2019 14 www.smeworld.asia improve patenting behavior of Indian 20000/year) and INR 40000 (INR SMEs. 8000/year). It is to be noted that if In India, the fees for applying for a a SME grows into a large firm patent is INR 8000 for a large firm. then the renewal fee increases. But a SME and a startup needs to pay Similarly, if a large business only INR 4000 (fee halved) and INR reduces into a small firm, the fees 1600 (80% reduction in fees) get halved. ased on the latest respectively for filing a patent. Conclusion Digital Patents are to be renewed annually in Transformation India. Between the second year and Patenting behavior of small firms B sixth year, a large firm will have to in US is excellent. We do not have Index with 4,600 business pay a renewal fee of INR 16000 corresponding data of India to leaders from 40+ countries, (INR 4000 per year). The same fee is make a comparison. But we have emerging markets dominate halved for SMEs (INR 8000 or INR data on the concessions provided to SMEs and startups for filing the country ranking as the patents in India. The concessions most digitally mature According to the 2016-17 Annual are more than comparable to that Report of the Indian Patent Office of US. In US, the inventor need According to the latest Dell Technologies Digital Transformation (IPO), the top five patent filers in India not worry about renewing the patent annually. After the twelfth Index, India is the most digitally are Qualcomm (1840 applications), year, the patent completes it life mature country in the world. Samsung (706), Huawei (625), of twenty years. In India, the However, businesses in India still inventor has to keep tab of the have a lot of work to do. Leaders in Microsoft (589) and Philips (557). The India are more aware of the need to top five Indian patent filers are IITs renewal deadlines and make payments annually. Patenting is prioritize digital transformation (400), Wipro (226), CSIR (225), cheaper for SMEs in India than in throughout their organization: 91% Mahindra & Mahindra (205) and BHEL the US. The cost of filing and of the business leaders believe that digital transformation should be (174). From the data given above, we maintaining a patent for a SME is less than two lakh rupees in India. more widespread, compared to78% can conclude that foreign firms are A startup can file a patent and globally. Almost half (48%) (51% more prolific patent filers in India than maintain it for less than INR globally), believe they'll struggle to meet changing customer demands their Indian counterparts. 75000. SME / Startup patenting in India has to increase if the within five years.

country wants to increase its Dell Technologies, in collaboration 2000 per year) and one-fifth for innovation capabilities. The IPO with Intel and Vanson Bourne, startups (INR 3200 or INR 800 per has to monitor and ensure that the surveyed 4,600 business leaders year). Between seventh year and various awareness programs that (director to C-suite) from mid- to tenth year of a patent, a large firm it organizes with various industry large-sized companies across the pays a renewal fee of INR 48000 bodies are bearing fruits in the globe to score their organizations' (INR 12000 per year). For the similar form of increased patent counts transformation efforts. period, SMEs pay INR 24000 (or coming from SMEs and startups. INR 6000 per year) and startups pay The study revealed that emerging INR 9600 (or INR 2400 per year). markets are the most digitally For maintaining a patent between its mature, with India, Brazil and Dr. Shyam Sreekumaran Nair is age 11-15, large firms pay INR Thailand topping the global ranking. a faculty at IMT Nagpur in the 120000 (INR 24000 per year), while In contrast, developed markets are area of General Management. SMEs and startups pay INR 60000 slipping behind: Japan, Denmark and His research interests include (or INR 12000 per year) and INR France received the lowest digital Intellectual Property, 24000 (or INR 4800 per year) maturity scores. What's more, Technology Strategy and Science respectively. For the remaining five emerging markets are more confident Policy. years, the renewal fees paid by large in their ability to 'disrupt rather than firms, small firms and startups are be disrupted' (53%) compared to just the following – INR 200000 (INR 40% in developed nations. 40000/year), INR 100000 (INR

FEBRUARY, 2019 15 www.smeworld.asia AI and automation is a low-cost and accessible way for small and medium enterprises to receive real-time insights from data, which leads to improved decision-making. It is happening in many different industries, such as the agriculture sector. One example is the machine-learning technology, which helps analyze the fertility of the soil while using weather and climate predictions so business owners know where and when to fertilize their crops

AI ushering us into a full-blown AI Can Enhance SMEs Data security and protection from dystopia, or those who see it as a frauds have also become areas of liberating, game-changing technology. The first thing you can do for your necessity and SMEs can benefit by employees is to leverage AI's capacity It is almost a banality that AI will leveraging AI applications using to process huge amounts of information vendor companies. transform our economies - and likewise in a blink of an eye. This information our lives. The question seems to be can include anything from paperwork, While currentlysome of the challenges more about how fast and to what extent files and meeting minutes to literal faced by SMEs, could be to get the the massive disruptions will occur. In mountains of emails, archived access to required datasets, the ability Dr. Saleena Khan an extensivereport Price Waterhouse messages and memos. to construct data lakes and the skills time when AI tools become more "We have to re-imagine the process. Cooper (PwC) terms AI “the most required to build algorithms. In the accessible with lowering of costs and We are working with many of our significant general purpose technology By cutting down on time employees near future, we might have AI based better defined business use cases, small clients to develop AI-based solutions. of our era”. spend chasing documents in search of systems leveraging the data related to a he Encyclopedia businesses would be in a position to Clients are already asking questions the right information, AI will help any combination of small and large clients make use of these tools and implement like: Can you automate this process? As we contemplate about the potentials SME get more comprehensive insights Britannica defines of AI, some warn of the devastating developing recommendation systems. them with ease. Can you make it faster? SMEs are into any process and, consequently, This would enable SMEs to skip the Artificial Intelligence impact these new technologies may arrive at better-informed business T When it comes to AI, hesitation is a bringing their data and asking what can phase of building their own AI systems or AI as “the ability of a have on existing employment patterns. decisions. gigantic mistake. This technology is they do with this data," says Kumar. around their own databases and digital computer or Others voice ethical concerns when incredibly accessible, with huge Kumar reveals that a lot of SMEs had humans enable machines to replace AI can help SMEs reap the benefits of leverage the readily available off the computer-controlled robot to benefits for businesses, which is one of already started approaching providers humans. Among the prominent critics increasingly faster technological shelf AI systems trained on multiple perform tasks commonly the reasons why SMEs should jump at like IBM with their problems, not has been Elon Musk, the American revolution, in the area of customer databases. Thus, in due course of service, which faces increasingly time,with the help of ongoing research, associated with intelligent the opportunity to enjoy these knowing the answers but ready to seek billionaire and tech entrepreneur who advantages. In the race for automation, them. has warned that “the danger of AI is demanding customers who want it to ready-to-use AI platforms or tools for beings”. A newspaper report companies that are quick to embrace be personalized, flawless and readily various functions would definitely be Use of AI in industry much greater than the danger of describes AI as “the change and ready to pivot will be the nuclear warheads by a lot and nobody available 24/7. AI allows SMEs to available for businesses to adopt and computer science that aims winners."One of the biggest benefits of AI and automation is a low-cost and would suggest that we allow anyone to integrate customer services at little integrate with their business cost. It can use its lightning speed data transactions. to replicate the critical AI is that it helps to optimize or make a accessible way for small and medium build nuclear warheads if they want.” process more efficient," says IBM enterprises to receive real-time insights processing capacity to analyze all At first sight, you may be tempted to In preparation for this, focus on seizing functions of the human India/South Asia, Cloud Leader, Amit from data, which leads to improved available information on any customer classify small and medium-size and building a robust data mind.” Kumar. decision-making. It is happening in and automate answers based on this, infrastructure is essential. For AI tools enterprises (SMEs) as AI skeptics, but thus reducing the burden on the staff in AI-based solutions can help companies many different industries, such as the to deliver results, businesses should So how will the AI influenced business is their stance really valid? There are at charge. In the long run, it may vastly reduce operational inefficiencies agriculture sector. One example is the start planning for proper classification environment, impact the normally least two common sense reasons for ultimately allow these companies to cut and small and medium businesses can machine-learning technology, which of data in which AI systems can be hesitant small and medium enterprise this sort of attitude. down on operational costs, based on its use these solutions to improve on their helps analyze the fertility of the soil trained and therefore SMEs would (SME) industry? ability to sort out messages and tickets processes. "There are several processes while using weather and climate benefit, by paying adequate attention to Historically, SMEs have had a and forward them to the right which are time-consuming, several predictions so business owners know treating data as an important resource tendency to hold back when faced with departments that can deal with them – pain points like cash flow, which needs where and when to fertilize their crops. right away. new and disruptive technologies. While for e.g., human resources or IT. In this to be sorted out, errors that can be Retail markets are also using predictive it's easy for startups and large manner, the needed number of human reduced. The question is whether AI algorithms. These technologies help businesses with resources to make the staff members can be reduced without About Dr. Saleena Khan engines can help in addressing these businesses anticipate the services and most of new opportunities as they hurting the level of service offered to Dr. Saleena Khan is an Associate and the answer is 'Yes'," asserts Kumar. products clients will want in the future. emerge, SMEs are usually slow to clients in the slightest. Professor at the Institute of Management As artificial intelligence matures, this catch up. AI-based competitive Technology, Nagpur for the past one ability to anticipate customer behaviour AI-enbled Solutions decade. She teaches core courses like However, due to the hype generated, advantage will also improve.AI also offers Organizational Behavior and group small businesses are made to consider To start using it, SMEs can use AI tools Insisting that it is not a train which is businesses different ways to improve dynamics along with a few elective AI as probably essential to their that are available 'off the shelf' and courses in Human Resource Management. getting away, Kumar says the SMEs and strengthen their customer SMEs Need Guarantees survival. Just as in the 80s, when there embedded as part of the solutions that She is also the Chairperson, Brand need to decide for themselves if they relationships. SMEs can offer greater First of all, SMEs havebeen less were exceptions and some businesses SMEs could procure. For example, Promotions and on campus Student's are at a stage in their businesses where service and personalization with fewer enthusiastic about new technologies. If considered investment in computers for advertising and marketing solutions Counselor at IMT-Nagpur. She has also they need a competitive advantage. staff members. they rush with the adoption of AI and it the future of business, SMEs who see provided by Facebook and Google are been a visiting faculty at a few The reason that this is the right time for AI Pessimism is Realism? eventually proves to fall short of their universally applicable—be they large International partner Universities of IMT- value in such investment to maintain N. She has published a few research SMEs to start exploring AI is because expectations, they can hardly make up or small businesses. Particularly for their edge and are able to afford it, Adopting AI to the fullest is not only papers in reputed national and industry has developed enough to offer for the time, resources and know-how SMEs with limited budgets at their should go ahead and evaluate their the speculative domain of business international journals. Her current research AI-based solutions to their clients. invested. Unlike larger business disposal, this could be effectively investment decision based on their people, but of scientists, activities are focused on Positive "These solutions are only going to get entities, which can absorb this shock utilized to target the desired customers business objective. AI related anthropologists and artists as well. All Psychology, Positive organizational better over a period of time as the better based on the scalability of their with precision messaging and aim at behavior, emotional intelligence and technologies would take some more of them seem to join one of two technology advances," says Kumar. available resources, SMEs have better conversions with the help of AI psychological well-being. She can be time to mature and in due course of groups: pessimistic skeptics, who see nothing to fall on if such a capital enabled solutions provided. reached at [email protected]. FEBRUARY, 2019 16 www.smeworld.asia investment fails. FEBRUARY, 2019 17 www.smeworld.asia Although there is an increase in Advanced Technology income but the disposable income is The revolution of technology and not increasing at the same rate internet advertisement is also making expensive, high end and facilitating to cut the other media trending brands aspirational. expenditure for the domestic brand Growth in ageing population, usage manufacturers, thus helping the cost Yashu Jain of cosmetics by the youngsters is saving. consistently high quality at crowded FMCG sector, unlike in attracting domestic manufacturers to So, advancement of technology and Piyush Mathur competitive prices. On this he has vogue tech start up's and left the offer affordable price range but developed internet facilities has also been fairly successful and has comfortable business plus personal without compromising on quality. osmetic market made the customers more adapted for received several accolades for the life of Udaipur and moved to Value for Money browsing their required products on work he has done. Gurgaon. My answer is simple, I am across the globe is an line. Brand owners have taken the just diversifying, though my reasons Moreover students, housewives, interesting model to route of internet of mobile digital ads In Search of an Idea of diversification are not mitigating C young employees are increasingly to be more nearer to their customers Says Piyush “Post my Business risk, but the mundane nature of know. The cosmetics or looking for value for money products all times. This is helping the uch is the eco system Graduation from Pune and my post mining business and the kind of beauty products industry in which provide a range of combined customers to gain the information of graduation from Belgium's The challenges I seek. I am a voracious the world is one sector which benefits of high priced premium these days that even new domestic products, brand International Management Institute growth seeker, which mining products at a lower than premium those well entrenched remains resistant to the ups variants, SKU launches and outlet S added a global as well as field market business would not have sufficed cost. Domestic manufactures such as and downs of markets. locations. in a traditional, secured exposure to my cart of “project(s)-in And I always wanted to do MATTLOOK, Miss Claire, Glam 21 thoughts” and I returned to my something where I get my product Indian cosmetic market is flooded and ADS are carving a niche by Apart from this customer can also family business don't want to hometown Udaipur. Eyes eagerly getting interacted with end with valiant international players offering products with breakthrough compare the prices for different continue with it and do want looking for my contribution in the consumers on first hand basis; who initially did not offer much technologies and radical effects. company's products and reviews on to make a mark for family business of Mining with apparent enough FMCG rout to it. scope for the domestic manufacturers Besides the rapid change in market the products which help the themselves independently in hopes I will advance it further. With Light Beverages Industry in India as far as the high end or luxury segmentation, cosmetic purchasing decision of the customer. no reluctance, I joined it and became brings the opportunity to create and products were concerned. However it manufacturers have turned a stream where there is no part of several marble projects. Even offer so much within and expand its is the middle segment, the affordable to product innovations Indian cosmetic market is flooded with valiant safety but of course offers though business was not assured, it footprints on Global Podiums. And range that is protected with domestic and lower packaging international players who initially did not offer infinite possibilities. This was mundane, nor providing me with that I believe Youth of today manufacturers who do not offer much styles for more much scope for the domestic manufacturers as far enough 'Juices', which could throw relates, understand and accepts it the scope for imports of other nation's placements in convenient captures the journey of as the high end or luxury products were concerned. challenges as desired by me. Thus best. I see that as a future of Make in products. Some of these brands stores and specialty stores entrepreneur Piyush Mathur, However it is the middle segment, the affordable begun the journey of searching for India initiative”, asserts Piush. include MATTLOOK, ADS, Wet & to add more customers to who left mining and jumped Idea for starting up, it hovered from Wild, Miss Claire and Glam 21. their brand products. range that is protected with domestic manufacturers who do not offer much scope for into entrepreneur Entertainment to Real Estate to Also as the economy is growing, The home-grown imports of other nation's products. bandwagon and founded a Education, to Online but finally it concurrently the income is rising too cosmetic brands are settled for beverages. Thus, in 2009 which is accelerating the living constantly innovating, beverage company Hielo beverage factory at Udaipur, standards. There is a penchant for keeping up with the trend and finding So, the domestic players have a Peaur Beverages India Rajasthan was started.” anything related to fashion which is ways to bring down costs. better understanding of the Indian becoming imperative to possess to be market which is helping them expand Limited. In last 10 years, he has taken the The market is driven by product a part of the social circles and rapidly. They know what to imbibe After starting Hielo Peaur Beverages company to international shores and innovations through new products or hangouts. It's not just the celebrities, from the international domain. They India Ltd. in 2009, like any other has opened division in Gulf, UK as incremental benefits to existing A- listers or the page 3; even the are putting up a good show with a entrepreneur this boy from Udaipur well. He plans to make Hielo Peaur products. Along with typical skin, middle class women want to be in the slew of market trends and striking a faced trial and tribulations. But he Beverages India as Elite, Premium lips and eye makeup, the newest same boat and want to replicate the perfect product and price balance! held on to his belief that the market and Luxury light beverages brand. trend is the blending of multiple trend. They do not want to get has immense potential for a high “Lot of people asked me who leaves benefits less than one beautifying spotted wearing the same clothes, premium quality beverage like the assured business of Mining, and product. And this too is available in shoes, bags or watches and make-up Yashu Jain is Managing Director, mineral water, juices and jams. Just assiduously build start up that too in -Piyush Mathur, Founder, the affordable segment. MATTLOOK Cosmetics. is no exception! that somebody has to offer Hielo Peaur Bevereges India

FEBRUARY, 2019 18 www.smeworld.asia FEBRUARY, 2019 19 www.smeworld.asia Although there is an increase in Advanced Technology income but the disposable income is The revolution of technology and not increasing at the same rate internet advertisement is also making expensive, high end and facilitating to cut the other media trending brands aspirational. expenditure for the domestic brand Growth in ageing population, usage manufacturers, thus helping the cost Yashu Jain of cosmetics by the youngsters is saving. consistently high quality at crowded FMCG sector, unlike in attracting domestic manufacturers to So, advancement of technology and Piyush Mathur competitive prices. On this he has vogue tech start up's and left the offer affordable price range but developed internet facilities has also been fairly successful and has comfortable business plus personal without compromising on quality. osmetic market made the customers more adapted for received several accolades for the life of Udaipur and moved to Value for Money browsing their required products on work he has done. Gurgaon. My answer is simple, I am across the globe is an line. Brand owners have taken the just diversifying, though my reasons Moreover students, housewives, interesting model to route of internet of mobile digital ads In Search of an Idea of diversification are not mitigating C young employees are increasingly to be more nearer to their customers Says Piyush “Post my Business risk, but the mundane nature of know. The cosmetics or looking for value for money products all times. This is helping the uch is the eco system Graduation from Pune and my post mining business and the kind of beauty products industry in which provide a range of combined customers to gain the information of graduation from Belgium's The challenges I seek. I am a voracious the world is one sector which benefits of high priced premium these days that even new domestic products, brand International Management Institute growth seeker, which mining products at a lower than premium those well entrenched remains resistant to the ups variants, SKU launches and outlet S added a global as well as field market business would not have sufficed cost. Domestic manufactures such as and downs of markets. locations. in a traditional, secured exposure to my cart of “project(s)-in And I always wanted to do MATTLOOK, Miss Claire, Glam 21 thoughts” and I returned to my something where I get my product Indian cosmetic market is flooded and ADS are carving a niche by Apart from this customer can also family business don't want to hometown Udaipur. Eyes eagerly getting interacted with end with valiant international players offering products with breakthrough compare the prices for different continue with it and do want looking for my contribution in the consumers on first hand basis; who initially did not offer much technologies and radical effects. company's products and reviews on to make a mark for family business of Mining with apparent enough FMCG rout to it. scope for the domestic manufacturers Besides the rapid change in market the products which help the themselves independently in hopes I will advance it further. With Light Beverages Industry in India as far as the high end or luxury segmentation, cosmetic purchasing decision of the customer. no reluctance, I joined it and became brings the opportunity to create and products were concerned. However it manufacturers have turned a stream where there is no part of several marble projects. Even offer so much within and expand its is the middle segment, the affordable to product innovations Indian cosmetic market is flooded with valiant safety but of course offers though business was not assured, it footprints on Global Podiums. And range that is protected with domestic and lower packaging international players who initially did not offer infinite possibilities. This was mundane, nor providing me with that I believe Youth of today manufacturers who do not offer much styles for more much scope for the domestic manufacturers as far enough 'Juices', which could throw relates, understand and accepts it the scope for imports of other nation's placements in convenient captures the journey of as the high end or luxury products were concerned. challenges as desired by me. Thus best. I see that as a future of Make in products. Some of these brands stores and specialty stores entrepreneur Piyush Mathur, However it is the middle segment, the affordable begun the journey of searching for India initiative”, asserts Piush. include MATTLOOK, ADS, Wet & to add more customers to who left mining and jumped Idea for starting up, it hovered from Wild, Miss Claire and Glam 21. their brand products. range that is protected with domestic manufacturers who do not offer much scope for into entrepreneur Entertainment to Real Estate to Also as the economy is growing, The home-grown imports of other nation's products. bandwagon and founded a Education, to Online but finally it concurrently the income is rising too cosmetic brands are settled for beverages. Thus, in 2009 which is accelerating the living constantly innovating, beverage company Hielo beverage factory at Udaipur, standards. There is a penchant for keeping up with the trend and finding So, the domestic players have a Peaur Beverages India Rajasthan was started.” anything related to fashion which is ways to bring down costs. better understanding of the Indian becoming imperative to possess to be market which is helping them expand Limited. In last 10 years, he has taken the The market is driven by product a part of the social circles and rapidly. They know what to imbibe After starting Hielo Peaur Beverages company to international shores and innovations through new products or hangouts. It's not just the celebrities, from the international domain. They India Ltd. in 2009, like any other has opened division in Gulf, UK as incremental benefits to existing A- listers or the page 3; even the are putting up a good show with a entrepreneur this boy from Udaipur well. He plans to make Hielo Peaur products. Along with typical skin, middle class women want to be in the slew of market trends and striking a faced trial and tribulations. But he Beverages India as Elite, Premium lips and eye makeup, the newest same boat and want to replicate the perfect product and price balance! held on to his belief that the market and Luxury light beverages brand. trend is the blending of multiple trend. They do not want to get has immense potential for a high “Lot of people asked me who leaves benefits less than one beautifying spotted wearing the same clothes, premium quality beverage like the assured business of Mining, and product. And this too is available in shoes, bags or watches and make-up Yashu Jain is Managing Director, mineral water, juices and jams. Just assiduously build start up that too in -Piyush Mathur, Founder, the affordable segment. MATTLOOK Cosmetics. is no exception! that somebody has to offer Hielo Peaur Bevereges India

FEBRUARY, 2019 18 www.smeworld.asia FEBRUARY, 2019 19 www.smeworld.asia Marine pollution has caused to threaten qualitative food and health safety. The toxicity of water levels appears high and when ingested, it is known to disrupt the endocrine system causing developmental disorders in human and aquatic life as well.

at large which can be well seen and hosting the 2018 World Environment projects by way of multi-stakeholder understood from the below diagram. Day 2018 with the vibrant theme model. Fifthly, leverage technology like aerial mapping or sensors to map and analyze 'litter prone marine' areas so as to obtain crystal clear Dr Arvind Kumar information on real time basis. Sixthly, enlightened thinking having an idea of 'plastics free life' should be encouraged and disseminated Microplastics are formed under the levels thus increasing the greenhouse through information, education and influence of ultra-violet radiation, emissions. Furthermore, the artistic communication (IEC). Seventhly, wind and other related factors which beauty of water bodies may face cosmetic products displaying lastics, micro help in fragmentation of plastics. degeneration which is likely to “polyethylene or polysterene” must plastics, micro They appear to possess the size of hamper the prospective tourism be restrained from buying. Eighthly, less than five millimeters in length. industry with diluted socio-economic The negative impact caused by “Beat Plastic Pollution” and the levying a fine must be the full beads They can be seen to be generated returns. microplastics is well known but the Versova beach cleanup in Mumbai. fledged norm to prohibit the use of P from paints, car tyres, city dust and requisite steps taken in this regard Such efforts need to move in a micro plastics. Ninthly, ocean everywhere… but hardly Should microplastics be a run-off water generated from stands inadequate are minimal. The symbiotic relationship with the motto beaches must regularly be equipped gets noticed. Are we washing clothes. Also, the matter of concern? Plastic Waste Management “reduce, reuse, recycle” to curb the with segregation of wastes at source, preoccupied to such an microbeads in cosmetics and The plastic in our seas and oceans (Amendment) Rules, 2018 do not menace of micro plastic pollution. clean up campaigns to further toothpaste form a significant part to people's awareness on holistic plastic extent that we have no has created havoc in the creation and provide for any legislative measures India is also a party to the aid the microplastics pollution. management. accumulation of marine debris, to include “microplastics”. This International Convention for the time to pause and However, being non-biodegradable resulting in marine pollution. Marine stands in contrast to the United States Prevention of Pollution from Ships Problems will multiply, so and smaller in size, it fails to be ponder to understand plastics which contribute around 80% of America (U.S.A) having banned (MARPOL), an international filtered out by the waste treatment will the challenges. of marine debris have strengthened the use of microbeads while agreement addressing plastic the grim situation? Or plants. The greatest burden of plastic the pollution of the water bodies simultaneously affecting the pollution and supporter of UNEP's India's strength lies in its waste entering the sea is likely to do we wish to assume it from the surface sea waters to the Microbeads Free Waters Act, 2015. “Clean Seas campaign” which has commitment to uphold climate arise where waste collection systems as a neglected discourse deep benthic zones. Microplastics is Scandinavian countries like Sweden raised the country's stature for the change efforts. Keeping in mind the are ineffective. one such contributor to shore up the and Finland have banned burgeoning marine pollution in in our climate change efforts to tackle the menace of plastic In real, marine pollution has caused process of marine pollution further. microplastics in consumer products. pollution. general and micro plastic litter in agenda?” to threaten qualitative food and Since Marine Litter is a India could replicate a similar law, particular, India must also look into health safety. The toxicity of water transboundary issue, the control of moving towards a more sustainable What can be done further? problems and challenges that need to The core of the issue…. levels appears high and when transboundary movement of and effective marine conservation. It Finding a solution to an underlying be confronted. For example, issues of As per International Union for ingested, it is known to disrupt the hazardous waste and their disposal is must also be clearly mentioned that problem is a tedious task altogether. poverty, inequality or resource Conserving Nature( IUCN) reports, endocrine system causing a big concern. States endeavor to while India is still coping to However, prudent and practical inadequacy is bound to derail India's Over 300 million tons of plastic are developmental disorders in human establish global and regional rules, strengthen its fight against plastic solutions hold the key to effectively endeavor towards good prospects. In produced every year for varied and aquatic life as well. Moreover, standards and recommended pollution, the emerging trends of circumvent the problems and such a situation, the idea of applied use. Atleast 8 million tons of the deteriorating health of aquatic practices and procedures to prevent, microplastic pollution is bound to challenges to a larger possible extent. 'sustainability' must go hand in hand flora and fauna as a result of climate reduce and control pollution of the change the equations making it much with 'collectivity' and turning the plastics end up in our oceans every Firstly, a 'National action plan to change along with ever rising marine marine environment from land based more complicated. challenges into the requisite year. In particular, microplastics curb marine litter' must be envisaged debris has threatened their food chain sources has to strengthen. prospects. significantly account for about 33% Moving beyond the to catalyze and converge efforts and the quality of life. of the “plastic soup”. According to the report in problem…… towards minimizing the ill effects of Lastly, the notion of reduction of Pointing out to independent.co.uk, the global plastic plastic pollution. Secondly, measures micro plastic pollution should stand Environment minister Dr. Harsh the magnifying production has increased in recent like strengthening the Extended in synchronous with the underlined Vardhan has rightly remarked that climate change years. From 2004 - 2014, the amount Producers Responsibility (EPR) for Sustainable development goal (SDG) “Plastic is not the problem, but what effect it causes, of plastic produced rose by 38 per ensuring environmental friendly 13 (Climate Action) and 14 (Life to do with the plastic is the real plastics are cent. In 2010, between 4.8 million plastic consumer products to under water). A “Plastic free” charter problem”. In this regard, managing known to be a and 12.7 million tons of plastic was discourage the use of plastics can be envisaging a toxic free and plastic the use and the disposal of micro petroleum washed into the sea which affected introduced. Thirdly, include plastics free future for every single living plastics in an arduous task but efforts product. Any the marine population. and related products in the highest entity is the need of the hour and taken in right direction in nascent burning shall Goods and Services (GST) slab rate parties should take measures to It becomes significant to understand stages shall be rewarded in the enhance the (28%) to curb its use. Fourthly, a ensure the minimum generation of how the magnification of coming future. carbon dioxide microplastics affects our environment 'green fund' can be established to hazardous waste. India has already set a benchmark by finance marine pollution related Dr Arvind Kumar is President, FEBRUARY, 2019 20 www.smeworld.asia India Water Foundation. FEBRUARY, 2019 21 www.smeworld.asia Marine pollution has caused to threaten qualitative food and health safety. The toxicity of water levels appears high and when ingested, it is known to disrupt the endocrine system causing developmental disorders in human and aquatic life as well.

he advent of modern fall, data driven business models are Predictive modeling, data security, computer networks and becoming attractively affordable. distributed storage and data mining. Research firm, Markets and Markets, Tthe democratization of Current Industry skill set tells us that Enterprise Data information has exponentially requirements for Big Data multiplied the amount of digital Management including software and data being generated. According services for migrating, warehousing, Analytics to a Cisco estimate global IP integrating and analyzing all forms of Based on current industry trends and data will approach USD 105 billion Traffic will reach 2 zettabytes by nature of business needs, Big Data by 2020. 2019. (1 zettabyte = 1 billion professionals ought to have the terabytes). This unprecedented Skill shortage to handle Big following competencies: increase in data has come about l he major concern of the Reserve Bank of India which are Service Tax (GST), payment of Data Data Interpretation and not only due to employment of Visualization encompasses job Equifax Credit Information Services Electricity Bills, Payment of Micro, However, one of the major the bank while existing methods, but from new functions such as Data Analytics and Pvt Ltd, CRIF High Mark Credit Small and Medium Suppliers etc. challenges to handling Big Data is a taking a lending horizons that have seen massive Business Intelligence. In this domain, T Information Services Pvt Ltd and Although, the Banks take the paucity of skills required in the the competency requirement will decision is the repayment Experian Credit Information certificate of Chartered Accountant growth in the number of workforce. Usage in industry is emphasize upgrading the instruments capacity of the borrower. Company of India Private Limited in as regard to the payment of Statutory connected devices. Portable moving away from SQL (Sequential of data analytics and warehousing, Credit Information addition to CIBIL. Dues, but this certificate is no devices are at the center of data Query Language) to manage for example, Netezza, MicroStrategy, Companies (CIC) are playing Credit Information Companies are suffice. growth. Plus, additional volumes structured relational database sets to from M2M (Machine to SAS and Tableau. an important role in taking engaged in maintaining the records There is no common portal or management and analysis of Machine) data through AI and unstructured data. In order to handle lData Processing and lending decision by the of all Companies and Individuals Information providing Agency to related to their Debt Obligation and gather the Financial Discipline of the IoT technologies are responsible Big Data, we need to anticipate the Management encompasses job Banks / Financial Institutions repayment capacity. The member borrower at one time. One has to for constant data accumulation. three phases of data analytics, viz., functions like database (FIs) by collecting, Banks / FIs periodically submit their extract the report of the CIC as The term Big Data has come into collection and storage; processing administration, creation, data processing and collating information to these Credit regard to the debt repayment history, daily parlance owing to a shift in and organizing and analysis and integration and data lifecycle individual's data about their Information Companies and based on Ministry of Corporate Affairs portal analyzing structured relational visualization. management. Workers in this profession must work on database debt repayment along with the data / input provided by the for the Annual Returns and databases toward working with What does a Big Data Banks / FIs and past repayment track Financials, GST portal to know the massive quantities of software and platforms like Analyst do? its history and providing records of the borrower, CIC issues a status of the returns. Further, the unstructured databases Microsoft, Oracle, Cloudera and these data to Banks / Credit Information Report (CIR) as Income Tax never share any details generated through a variety of Since data analytics and management Hadoop. Financial Institutions. well as Credit Score. with the bankers. Bankers only have sources. There developed an are relatively older areas in the tech lData Infrastructure is the an option to rely on the Customer world as compared to Artificial Currently, Credit Information Bureau Currently, the Credit Information urgent need to build tools that platform upon which data certification. Intelligence, Cloud systems and the India Limited formally known as Report is based on the debt analyze and interpret such management lies and job functions Internet of Things, employers are CIBIL is the major and largest Credit repayment track records of the All the above things plays major role unstructured datasets. covering data storage, data center Borrower. while taking the lending decision by somewhat aware of the skills that management, business continuity and the Banks/ FIs and also helpful to Rapid Emergence of Massive would be required. Nevertheless, the data security are emerging. In order Financial Discipline reduce the NPA. Data on the internet requirements of today and the future to gain entry into this interesting and will depend more on the analytics much-in-demand field one would In present era, where the banks/FIs The Government / Reserve Bank of Always connected portable devices part. The most important question need to go through a comprehensive are struggling with the steep rise in India needs to create the common have expanded the opportunities for that we can then ask is: How can we program designed and delivered by Non-Performing Assets (NPA), the platform to the Financial Discipline inputs to the internet massively. Data, intelligently use huge volumes of leading experts in the field such as credit decision should not only be of the borrower / prospective today, is being referred to as the data for business transformation Intellipaat, Cloudera or Hortonworks. based on the debt repayment borrower based on their past lifeblood of digital organizations and covering incremental revenue, Different roles require different focus capacity. Banks should verify the repayment history, payment of the currency of the new digital trimming costs, enhanced and competencies and one must choose financial discipline of the Borrower Statutory dues and filing of Statutory economy, suggesting a level of informed decision making and target accordingly. like their repayment history, Payment returns, payment to MSME suppliers. significance and value distinctly Information Company in India. There marketing. Therefore, much of the of Statutory Dues and their timely higher than in previous times. While are other three Credit Information skill gaps around data-handling now Returns like Income Tax, Goods and Sandeep Bisht is Co-Founder, the price of computing continues to Diwakar Chittora is Companies which are approved by Filing Samadhan. rest on Real Time Analytics, CEO & Founder, Intellipaa FEBRUARY, 2019 22 www.smeworld.asia FEBRUARY, 2019 23 www.smeworld.asia Sandeep Bisht Diwakar Chittora

5. Innovative ways for Recruiting Market Recruitment plays a major role in HR. Companies spends billions on recruiting the right staff and spends millions on employee development and training programs. Finding the right candidate with suitable work experience and skills has always been a major task for the companies. The high volume recruitment, such as in, hospitality sector the process has been automated by chat bots and AI servers to shortlist and interact with redicting the upgrades and replacements sweeping The HR management software for the candidates. The skilled job in the HR technology. the coming year is focused on being A cloud-based Human Resource The knowledge and skills can be recruitment is being revolutionized Solutions centralizes the data at one grasped in a playful and competitive by open sourcing tool and the future is next to Here is what Excalibre as thought more productive. The software is place and can be easily accessed and manner. With the interaction in real- applicant tracking systems are now leaders view trends happening upgraded to work beyond the usual impossible. But modified from any system and time, the employees will be aware of coded with better assessment P most in 2019. functions and be the smart software when you are observing configuration. The cloud-based HR the proceedings and processes of the algorithm. solutions are well functioned with company which helps build trust and an industry closely, it is offering HRMS, Payroll, ERP faith among the company and its 6. Talent Management to possible to define the solutions, and many talent employees. The VR and AR learning Maximize Productivity management services. solutions make learning more real trends and chart a The talent management dashboard is and in turn, increase the productivity the center for all employee activity. course for where things Recruitment plays a major role in overall. Talent management dashboard gives are likely to head. And HR. Companies spends billions on 4. The reinvention of HR managers and recruiters a comprehensive overview of the recruiting the right staff and spends corporate learning when it comes to HR employee's talent pool. It enables the millions on employee development While the old corporate trends market, observing the Managers to communicate directly and training programs. Finding the focused on getting the best from an with the employee according to their previous trends indicates employee with the minimum interest areas and nurture their talent right candidate with suitable work investment on the overall in order to plan for the future. a huge transformation in development, the upcoming HR experience and skills has always The talent management software solutions are more focused on the the trend. Varied HR to provide messaging from different been a major task for the mainly takes care of the factors like, 1. Major Shift from individual learning and growth. Software usually takes “Automation” to systems, internal team companies. Reporting, Performance communication chat bots, mass Corporate today believe that an “Productivity” management, engagement with care of all the manual emailing services and a platform of individual is productive and is a talent, learning and development and work done by multiple From past few years, the major focus communication tools that overwhelm Hence the cloud HR and resource for the company if utilized talent pipeline. of Human Resource solutions is to most of us. Performance Management Software properly. And proper utilization The above innovative solutions are employees in an shift from manual work to is a critical system for any business. comes from taking care of the 2. The shift from “System just the tip of the iceberg. With the automation with integrated HR individual being. Understanding the technology evolving at a faster pace, organization. practices. Be its payroll process, Based” HR Management 3. Learning in Real Time same, companies today are coming there is a lot coming up in redefining An employee should be aware and record keeping, learning software to “Cloud-Based With the upgrade of the process to up with the solutions to increase the and reinventing HR solutions in the responsive towards the goals and management, resume capture, the cloud-based centralized system, knowledge and skill base of the Solution” coming years. vision of the organization and HR interview, and hiring, management, the employees will stay updated with employees so as to increase the Despite HR Management software management software helps in the assessment, compensation, the processes in the real-time. The overall productivity. Your call now folks being the rapidly maturing solution, same. And in the process, employee performance appraisals or interview learning domain is slow when only a few companies are Introduction of new AI learning Contributed by engagement is the key. and hiring, the cloud based HR concerned individual. However, with comfortable with shifting from platforms such as LMS system and Management software is sound to information provided in real-time, With all the market disruptions system based software to cloud-based AI-based systems are recommended take care of all. makes employee have access to the happening around, there is a wave of solution. for learning in a better and smarter -K S Ahluwalia,Executive Coach and learning material and work progress environment. Mentor-Excalibre,E-mail: [email protected] FEBRUARY, 2019 24 www.smeworld.asia as and when needed. FEBRUARY, 2019 25 www.smeworld.asia earson India, the digital education course or program or for blended learning is growing learning company, released intend to enroll in an education substantially as 49% of adult learners Pthe findings of its first-ever course or program within the next 3 prefer a “blended” option. Pearson Study of Adult Learners years. to continue education. During the conducted across six countries. The Seismic shifts in industries survey, participants stressed upon the research aimed at understanding importance of social, emotional, and adult learner behaviour and interest Varun Dhamija, Vice President, experiential learning to succeed in in non-degree programs and Pearson Professional Programs the job market and highlighted that certificates, revealed that Indians (PPP), Pearson India said, “In today's they should be included in a were the least price sensitive across dynamic business landscape, hybrid/blended learning model. the six countries while choosing a advancement of technology has Changing information consumption course. The survey divulges that created seismic shifts in industries, patterns are also reflected in the most of the Indian learners are keen making many old job roles irrelevant choice of course format, with 22% of on short courses, of which 23% of and creating need for new skills. learners selecting online courses with learners prefer qualification awarded Nurtured in an education-oriented the video lecture format. Though the by a professional body. It highlights culture, Indian professionals realize rise of e-learning has helped the need and are pursuing encourage students to take on more or opening to the idea of responsibility for acquisition of short courses to upgrade knowledge, 32% of learners across and upskill. Well-structured India still prefer teacher-led learning non-degree courses with followed by self-directed learning at measurable impact have 26%. the potential to enhance learning and provide an Motivations to continue opportunity to understand education domain concepts like The survey findings show that career analytics, blockchain improvement and knowledge are two amongst others.” prevailing motivations for Indian that 27% of Indian learners are “Adult Learners like the concept of learners to continue education. 56% already pursuing short-term courses combining the convenience of of Indians take courses to improve while 28% of Indian adult learners passive online learning, with the job/career possibilities, closely plan to take-up single subject short quality of active learning in-person. followed by 55% Indians who take term-course with one-time fee. With Majorities across markets are open to courses as a gateway to gain reference to the adoption and demand online education and there is a huge knowledge. With the growth of for degrees, 46% of Indian learners potential to increase adoption of technology and digitization, jobs are plan to do post graduate and 39% are online courses”, he added. also getting highly specialized. currently pursuing BA degree Blended learning gains Evolving market dynamics and courses. technology trends have also momentum The survey was conducted among propelled 44% of learners to adult learners in Australia, India, While India is making a headway in complete a course to advance their Malaysia, the United Arab Emirates, digitization of education, blended professional qualification. and the United Kingdom aged 18 – learning is gaining pace with the Additionally, 38% of the learners 65 years. During the survey Indian learners and professionals. pursue these courses to get equipped respondents were screened by age, Though 32% of adult learners prefer with knowledge and skills that will English fluency, enrolled in an complete online courses, the demand be beneficial in day-to-day life.

FEBRUARY, 2019 26 www.smeworld.asia inister of State (I/C) creation. This, he said, was made Ministry and emphasized that quality for MSME, Giriraj possible through measures such as issues in procurement were real and increasing the limit for provision of should be addressed. In this context, Singh, felicitated M collaterals free loans to Rs 2 crore, she said that the private sector too select Central Public Sector technology upgradation, cluster would have to contribute its mite to Enterprises (CPSEs) for their development vendor development and source products and services from SC- exemplary work under the schemes aimed at extended financial ST entrepreneurs. Public Procurement Policy for benefits to SC-ST entrepreneurs. Ms. Alka Arora, Joint Secretary – promotion of SC/ST The Minister also said that as a result SME, Ministry of MSME, made a entrepreneurs. As many as 14 of the various initiatives under the detailed presentation on the initiatives National Scheduled Caste-Scheduled of NSSH and talked about the key CPSEs for the Maharatna, Tribe Hub (NSSH) launched in schemes and offerings under it. She Navratna, Miniratna and October 2016, the procurement of talked about collaboration with various general categories were CPSEs from SC-ST MSEs had state governments to have a wider awarded based on the increased significantly to 0.52% from outreach. She highlighted that under parameters available on the 0.04% four years ago. He also the Hub, 25 training institutes are mentioned that while the achievement offering 111 different courses through Public Procurement Portal, target is 4%, the Ministry of MSME 475 batches in 57 training centers MSME Sambandh. and all CPSEs are on the right path across 53 locations in 20 States. The The “Stakeholders Consultation towards achieving it. Mr. Singh urged Hub also has 12 operational offices in Meeting under National SC/ST Hub – CPSEs to raise their procurement from 12 locations including Agra, Varanasi, Creating Ecosystem for SC/ST MSMEs and break the “barrier” of Patna, Guwahati, Kolkata, Pune, Entrepreneurs”, organized by the 25% and strengthen their 'sambandh' Bengaluru, Chennai, Ranchi, Ministry of Micro, Small and Medium with MSMEs order to bring about Bhubaneshwar, Mumbai and Ludhiana. Enterprises in association with the inclusivity and growth. She also talked about the various new interventions under the Hub including Department of Public Enterprises, SC-ST MSEs Ministry of Heavy Industries & Public reimbursement of Membership fee of Enterprises and FICCI witnessed Dr. Arun Kumar Panda, Secretary, various Export Promotion Councils, participation from over 70 CPSEs from Ministry of MSME, urged CPSEs to Bank loan processing charges, testing across the country. share information of procurement charges, Bank charges for Performance requirements on the MSME Sambandh Bank Guarantee for participation in Public Procurement Policy portal in the prescribed format. Dr. Government tenders, etc. 100% Panda quoted numbers from the subsidy is also available on Addressing the Stakeholders membership fee of Consultation Meeting, Giriraj Singh MSME Sambandh portal and highlighted that the procurement from www.msmemart.com which is a B2B reiterated that the Public Procurement portal by NSIC. Policy wherein all Central ministries, SC ST MSEs for the current FY stood departments and PSEs have to procure at over Rs. 520 crore. He highlighted Archana Garodia Gupta, Chairperson, a minimum 25% of the total annual that procurement percentage from SC- FICCI MSME Committee, said that purchase or services from MSEs. Of ST MSEs doubled to almost 0.48% in FICCI was looking forward to working the annual requirement of 25%, 4% is 2017-18 when compared to 2016-17. In closely with associations engaged in earmarked for units owned by SC-ST addition, orders worth almost Rs. development of SC/ST communities, entrepreneurs. In addition, 358 items 27,000 crores have been procured from including promotion of are reserved for exclusive purchase over 63,000 MSEs in 2018-19. He entrepreneurship amongst them. from the MSEs. suggested the formation of a committee to examine the conditions of tender Dilip Chenoy, Secretary General, He said that the endeavor of the MSME documents of CPSEs that were FICCI, said that FICCI remained Ministry was to constantly upgrade the preventing SCT-ST entrepreneurs from committed to support the government technologies adopted by MSMEs to participation in public procurement. to meet its objective to strengthen the churn out quality products in order to marginalized community. The private make them marketable and Quality Issues Real sector procurement from SC-ST competitive. He said MSMEs were entrepreneurs has begun and FICCI had Ms. Seema Bahuguna, Secretary, today in the forefront of started an outreach programme. Department of Public Enterprises, manufacturing, export and employment shared the concerns of the MSME FEBRUARY, 2019 27 www.smeworld.asia Aroon Sharma

Payword Bringing Marketplace Closer to Rural Consumers

ayworld is India's processing platform where a made Payworld the only company in consumer can do transactions by its class having 40% CAGR. largest assisted visiting retail touch points by paying Payworld's 100% subsidiary wallet which is digitally and in cash. These retail Payworld Money , which is a mobile P points uses Payworld's application wallet reaching out to new smart bringing marketplace which runs on Desktops , Laptops phone users for penetration to closer to the semi-urban and Mobile phones using Android, unbanked population through the and rural consumers Windows, iOS & Java platforms. assisted mode. Payworld Money is an who are not using smart Utility Services RBI approved PPI (Pre- Paid Instrument – Digital/ Mobile wallet) phones and ATM. Under this platform, Payworld offers issuer. Payworld services assume a plethora of utility services to its great significance against the The brand has built a formidable consumers in terms of Domestic presence in India with over 1,55,572 backdrop of greater financial Money Remittance, Mobile and DTH inclusion of the population especially active retail touch-points across 630 recharges, Rail, Air and Bus cities and 23 states providing access by reaching out to the unbanked reservation and Utility Bill population. to untouched market segments to the collections, Digital Wallets, Cash Brain Behind Praveen Dhabhai, COO, Payworld is the brain behind the unprecedented success in this sphere of financial services of Payworld, a part of the US$ 2 billion Sugal and Damani Group. Praveen, with his vast experience in the financial services world, brings with him a sincerity of purpose, resolve and intellect. He has led the Payworld team with his sharp business acumen and astuteness to deliver their best, outstripping any service providers. PayWorld is withdrawal points and Assisted e- better performance before. committed to simplifying people's commerce. Payworld also facilitate lives and has innovated Mobile Point SMEs' loans. Approx. over 100 Praveen, an alumnus of the revered of sale machines for several small million transactions are done using Birla Institute of Technology and merchants across semi-urban & rural this platform every year through our Sciences (BITS), Pilani, brings to areas. Visa, RuPay, MasterCard 100,000 active retail touch points Payworld a wealth of 20+ years of including debit and credit cards of all spread across India. Payworld also work experience. In all his job major banks – all are accepted by acts as a Composite Corporate Agent responsibilities; he has demonstrated these mPOS machines. to provide insurance solutions in he understands all technical nuances India. of the projects entrusted as An initiative of Sugal & Damani splendidly as he understands the Group, Payworld, builds on the Capitalizing on operational expertise, commercial viabilities of the venture. business philosophy of 'Making Life robust in-house developed This unique and formidable Simple' offering smart solutions by technology & implementation and combination makes his work output their intelligent electronic transaction timely introduction of new services exemplary. FEBRUARY, 2019 28 www.smeworld.asia Our model has assisted transactions, we target people who are not tech savvy and need assistance in doing digital financial transactions using Payworld Money digital wallet As an NFBC, what is the vision of Payworld for financial services for the teeming millions? We are not an NBFC , but with tie- ups with Insurance companies, Mutual Funds and NBFC / Alternate lending platforms, payworld would like to bring small tickets financial products in Insurance, investments, and credit through payworld digital During his tenure at the Sugal and Payworld approach is to appoint a mitras in real BHARAT ( smaller Damani Utility Services, he has been retailer in the rural area and train him towns and rural ) that where the real responsible for introducing and in digital transactions using payworld growth will come maintaining diversified services and intelligent digital transaction What is the next level for business verticals. The growing sales platform, he becomes a "digital Payworld? volumes and transactions are a mute mitra" for all people around in that testimony to his leadership and area and then assists in doing We plan to increase our Retailer base business vision. financial transactions. 3 times from present 200,000 to 600,000 in next 3 years , provide SME WORLD in an email We have almost 200,000 such small ticket finacial products interaction with Praveen. retailers - digital Mitra across India designed for people payworld is Describe various initiatives that There are so many wallet services targetting to bring greater financial Payworld has taken in the financial which have appeared in the recent inclusion inclusion of the people in rural past; how Payworld makes a areas where technology has yet to difference? reach.

Vibrant Gujarat NSIC Displays Innovative Technologies Prime Minister Narendra Modi at the NSIC Pavilion

rime Minister Narendra Modi graced the MSME Pavilion at Vibrant Gujarat 2019 wherein the constituents of the Ministry of MSMEs gave a live display of their innovative technologies and their Pvarious offerings for the Entrepreneurs. Present on the occasion were various NSIC officials including Sudhir Garg, CMD and P.Udayakumar, DPM, Manoj Lal, GM(SG), Satvinder Singh,CGM, Rajesh Jain,GM. The technologies displayed by NSIC in the theme area included design and 3D printing, application of sensors and supervisory control and data acquisition for smart home and smart cities, CNC simulation, augmented reality and virtual reality.

FEBRUARY, 2019 29 www.smeworld.asia Effective leaders think big and conceptualize, while never losing sight of the discipline behind execution and in fact, their strategic thinking is grounded in reality, because of it.

the discipline of follow through. As concepts and thrive in the world of 4. Be incisively decisive. people start down the path, they are grasping and explaining strategies. Efforts to improve the return on your likely to run into roadblocks of Details bore them. They are willing time will not amount to much if you differing kinds. They may start out to delegate, but know not how to have trouble making decisions. An gung-ho, then unarticulated convert their ideas into specific tasks analytical mind is an asset, but if you doubts/questions/ confusions creep and they don't follow through, these are perpetually seeking more in. They loose momentum. leaders put themselves and their information, more facts, more organizations at great risk. ne of the biggest well as you do, consequently lGive the entire task to one It's your job to discover/ identify the alternatives, and more certainty, you performance will suffer and thus individual, not team. It's faster, problems/ bottlenecks and ensure Effective leaders think big and challenge / will waste time going down rabbit- giving away control is simply not more efficient; the person won't they are resolved promptly. You will conceptualize, while never losing holes. Meanwhile the train will leave complaint is that acceptable/ advisable. need to achieve consensus to unearth them sooner if you review sight of the discipline behind the station without you. O make decisions and will own the progress at agreed- upon intervals. execution and in fact, their strategic you don't have enough It's not really what you do, it's all Issue of analysis paralysis is hitting task completely. These check – ins, weekly, in person thinking is grounded in reality, about brining together a group of many business leaders who are time to do everything you or phone, should have real substance because of it. people who have different skills, lCommunicate clearly what you temperamentally uncomfortable with to them. need to do more so when different capabilities and working are asking for, being sure to 3. Create a repeatable ambiguity. Put simply uncertainty is you ascend the corporate through them to accomplish a stated break down concepts into Skip the superficial questions on how process. a fact of life. You have to know the objective. specific action items things are going and don't just accept difference between weighing the You inherit an avalanche of systems ladder and face larger and Reflect - How you meet your own lIdentify the goals, controls, and perfunctory answers that everything relevant facts and loosing time and processes, when you come into a more complex projects and commitments: boundaries, and furnish a is just fine. because you are dodging the issue. job or scale up your existing context, explaining why it needs challenges. There is a limit lAre you doing it by draining business- mostly those who have Need to follow the 40- 70 rule. If you to be done, its importance in the Remember that the energy? outclassed their usefulness. You can have less than 40% of information, to how much you can overall scheme of things and the l additional responsibility double or triple your capacity by you shouldn't make a decision, yet if Driving people relentlessly? possible complications that may expand your working finding those that can be eliminated, you wait until you have more than lBurning them with impossible arise. you assign will likely to be without ruining your health automated, freeing up peoples time 70%, then you have waited far too demands? lArticulate the end results you an opportunity for the long and missed the bus. Once the or damaging personal for more meaningful work. If you are lOr by expanding the capacity of expect and the standards you will person to grow, and your delegating well, you might be able to information is in 40-70%, go with relationships- sleeping less the organization, by helping use to measure successful own capacity will expand as cut layers out of the approval your gut. people grow, such that they completion. certainly isn't the best his/hers does, so it's processes, thereby saving time, The more aware you are of what expand their own capacities. lIf the task requires collaboration money and energy. blocks your decisiveness, whether its option. important to help the What doesn't work is assigning a task with others, ensure to You simply can't eliminate systems arrogance, fear of adverse But just as you can raise the return on without knowing that the person is communicate it with them too, person succeed. completely. Think about what kinds repercussions, aversion to risk or your money by smart investing you capable of delivering on it, such that they understand that of communication, information flows previous failures- the more likely you can learn techniques to raise return remaining un-involved until the end you expect them to participate. and decisions-making processes are are to expand your potential. Like Ask probing questions like: many people, you may have on your time. Leveraging your of the time period, and then blaming lFocus on 'what' and not 'how'. essential, and make them routine, l difficulty overcoming these multipliers- those things that allow others when results don't materialize. Detailing how the work should What is going better than keeping in mind that organizations of blockages by yourself. You can get you to accomplish more- will free Delegation is done only when the be done is micromanaging, and expected? every size, including yours, need help by finding people in your your time and mental space to focus person has necessary expertise and it's destructive all around; if you lWhat's the biggest risk to consistent processes to grow. on bigger things, including your own information to complete the job. working group who can point it out interfere without a good reason completing the project on time? You should be thinking abut what learning's and self improvement, Hence allocate time to help the to you, someone who observes you you will lose the person's data analytics can generate and how while delivering results. person along by providing any Point is to understand any real and can give you specific feedback. enthusiasm and commitment. to combine it with kinds of insights, necessary training –world problems that are arising 4 steps to get more from less- Allow the person to devise his expertise and judgements only people Take some well –calculated risks /coaching/mentoring while making without rushing to blame. Frequent Increase your Return on Time own methods and processes. If can provide. For example, you would when you are in 40-70 zone, and yourself accessible to answer the check –ins are also a chance to she is clear and committed, then like to eliminate a dull –weekly staff learn from your successes and 1. Delegate and Follow query as they raise. acknowledge good work, which is trust her. meeting, in favour of a brief check-in failures. Through. energising. Remember that the additional during which a group reflects on how Like any skill, decision making is 2. Trust but Verify Delegation and following through are You need to be spending your time responsibility you assign will likely to respond given what the data improved with practice and decision critical to excellence in execution. To on things only you need to do while to be an opportunity for the person to Most leaders feel their work is done analytics are telling them. making in the face of uncertainty is be sure, some people have risen far grow, and your own capacity will once they have assigned the person st delegating the rest. Delegating may Any such mechanisms you create an essential skill for the 21 century expand as his/hers does, so it's and clearly laid out the expectations, in their companies without this skill. be difficult, cause of the notion that must be scalable, meaning it to leaders like you. important to help the person succeed. but that's hardly the case. Now comes They build their personal brand as a except you, no one can do that job continue to function effectively in the a true test of your ability to execute, high-level thinker. They love the intellectual excitement of new growth curve of the company. -K S Ahluwalia,Executive Coach and Mentor-Excalibre,E-mail: [email protected] FEBRUARY, 2019 30 www.smeworld.asia FEBRUARY, 2019 27 www.smeworld.asia Effective leaders think big and conceptualize, while never losing sight of the discipline behind execution and in fact, their strategic thinking is grounded in reality, because of it.

the discipline of follow through. As concepts and thrive in the world of 4. Be incisively decisive. people start down the path, they are grasping and explaining strategies. Efforts to improve the return on your likely to run into roadblocks of Details bore them. They are willing time will not amount to much if you differing kinds. They may start out to delegate, but know not how to have trouble making decisions. An gung-ho, then unarticulated convert their ideas into specific tasks analytical mind is an asset, but if you doubts/questions/ confusions creep and they don't follow through, these are perpetually seeking more in. They loose momentum. leaders put themselves and their information, more facts, more organizations at great risk. ne of the biggest well as you do, consequently lGive the entire task to one It's your job to discover/ identify the alternatives, and more certainty, you performance will suffer and thus individual, not team. It's faster, problems/ bottlenecks and ensure Effective leaders think big and challenge / will waste time going down rabbit- giving away control is simply not more efficient; the person won't they are resolved promptly. You will conceptualize, while never losing holes. Meanwhile the train will leave complaint is that acceptable/ advisable. need to achieve consensus to unearth them sooner if you review sight of the discipline behind the station without you. O make decisions and will own the progress at agreed- upon intervals. execution and in fact, their strategic you don't have enough It's not really what you do, it's all Issue of analysis paralysis is hitting task completely. These check – ins, weekly, in person thinking is grounded in reality, about brining together a group of many business leaders who are time to do everything you or phone, should have real substance because of it. people who have different skills, lCommunicate clearly what you temperamentally uncomfortable with to them. need to do more so when different capabilities and working are asking for, being sure to 3. Create a repeatable ambiguity. Put simply uncertainty is you ascend the corporate through them to accomplish a stated break down concepts into Skip the superficial questions on how process. a fact of life. You have to know the objective. specific action items things are going and don't just accept difference between weighing the You inherit an avalanche of systems ladder and face larger and Reflect - How you meet your own lIdentify the goals, controls, and perfunctory answers that everything relevant facts and loosing time and processes, when you come into a more complex projects and commitments: boundaries, and furnish a is just fine. because you are dodging the issue. job or scale up your existing context, explaining why it needs challenges. There is a limit lAre you doing it by draining business- mostly those who have Need to follow the 40- 70 rule. If you to be done, its importance in the Remember that the energy? outclassed their usefulness. You can have less than 40% of information, to how much you can overall scheme of things and the l additional responsibility double or triple your capacity by you shouldn't make a decision, yet if Driving people relentlessly? possible complications that may expand your working finding those that can be eliminated, you wait until you have more than lBurning them with impossible arise. you assign will likely to be without ruining your health automated, freeing up peoples time 70%, then you have waited far too demands? lArticulate the end results you an opportunity for the long and missed the bus. Once the or damaging personal for more meaningful work. If you are lOr by expanding the capacity of expect and the standards you will person to grow, and your delegating well, you might be able to information is in 40-70%, go with relationships- sleeping less the organization, by helping use to measure successful own capacity will expand as cut layers out of the approval your gut. people grow, such that they completion. certainly isn't the best his/hers does, so it's processes, thereby saving time, The more aware you are of what expand their own capacities. lIf the task requires collaboration money and energy. blocks your decisiveness, whether its option. important to help the What doesn't work is assigning a task with others, ensure to You simply can't eliminate systems arrogance, fear of adverse But just as you can raise the return on without knowing that the person is communicate it with them too, person succeed. completely. Think about what kinds repercussions, aversion to risk or your money by smart investing you capable of delivering on it, such that they understand that of communication, information flows previous failures- the more likely you can learn techniques to raise return remaining un-involved until the end you expect them to participate. and decisions-making processes are are to expand your potential. Like Ask probing questions like: many people, you may have on your time. Leveraging your of the time period, and then blaming lFocus on 'what' and not 'how'. essential, and make them routine, l difficulty overcoming these multipliers- those things that allow others when results don't materialize. Detailing how the work should What is going better than keeping in mind that organizations of blockages by yourself. You can get you to accomplish more- will free Delegation is done only when the be done is micromanaging, and expected? every size, including yours, need help by finding people in your your time and mental space to focus person has necessary expertise and it's destructive all around; if you lWhat's the biggest risk to consistent processes to grow. on bigger things, including your own information to complete the job. working group who can point it out interfere without a good reason completing the project on time? You should be thinking abut what learning's and self improvement, Hence allocate time to help the to you, someone who observes you you will lose the person's data analytics can generate and how while delivering results. person along by providing any Point is to understand any real and can give you specific feedback. enthusiasm and commitment. to combine it with kinds of insights, necessary training –world problems that are arising 4 steps to get more from less- Allow the person to devise his expertise and judgements only people Take some well –calculated risks /coaching/mentoring while making without rushing to blame. Frequent Increase your Return on Time own methods and processes. If can provide. For example, you would when you are in 40-70 zone, and yourself accessible to answer the check –ins are also a chance to she is clear and committed, then like to eliminate a dull –weekly staff learn from your successes and 1. Delegate and Follow query as they raise. acknowledge good work, which is trust her. meeting, in favour of a brief check-in failures. Through. energising. Remember that the additional during which a group reflects on how Like any skill, decision making is 2. Trust but Verify Delegation and following through are You need to be spending your time responsibility you assign will likely to respond given what the data improved with practice and decision critical to excellence in execution. To on things only you need to do while to be an opportunity for the person to Most leaders feel their work is done analytics are telling them. making in the face of uncertainty is be sure, some people have risen far grow, and your own capacity will once they have assigned the person st delegating the rest. Delegating may Any such mechanisms you create an essential skill for the 21 century expand as his/hers does, so it's and clearly laid out the expectations, in their companies without this skill. be difficult, cause of the notion that must be scalable, meaning it to leaders like you. important to help the person succeed. but that's hardly the case. Now comes They build their personal brand as a except you, no one can do that job continue to function effectively in the a true test of your ability to execute, high-level thinker. They love the -K S Ahluwalia,Executive Coach and intellectual excitement of new growth curve of the company. Mentor-Excalibre,E-mail: [email protected] FEBRUARY, 2019 26 www.smeworld.asia FEBRUARY, 2019 31 www.smeworld.asia Abhas Desai

he current verdict Severe Impact The definition of travel has changed from what used to be leisure, to what seems to be that the Whatever the reason may be, as a is now a lifestyle. Even though the result of the same, the Indian travel Indian travel cost of travel may have increased, the T industry was severely impacted. The industry is booming. The budget that travellers allocate to their US Dollar is the currency used for signs universally indicate expeditions has seen a congruent rise transactions during most as well. that the future for the sector international trips by Indians. Not will only be strengthened only does this mean that the cost of The idea of budget travel has also with time. buying FOREX becomes more become a phenomenon in recent expensive; public transportation, times. Budget travellers may decide Travel and tourism accounted for accommodation and even enjoying a to not spend extravagant amounts on 9.4% of India's GDP in 2017. In fact, regular meal abroad may cost a lot amenities and luxury and instead, the signs look promising and the more than usual. invest on the basic amenities in industry is estimated to grow by exotic destinations. 6.9% until 2028. Travel and tourism What about the Euro then, the other generated 41.622 million jobs in the currency for mass transactions? Even And some may even choose to visit a year. though it only became slightly more cheaper destination owing to the expensive against the increased currency rate, because the Rupee, one must world is not short on amazing locales remember that the for tourists. So instead of going all currency had already the way to Los Angeles, a visit to scored a massive rise Bali may suffice. against the Indian Rupee The idea of travel is evolving, despite in 2017. Moreover, the vagaries of international enough increasing fuel currency. The sector is booming costs have also led to a because the idea of exploring the rise in flight ticket costs. world is what drives millions to set But when one door out on a magical journey. The closes, another opens. experience outweighs the expense. But then, with every opportunity The value of the Turkish Today, the world is indeed your there comes a share of challenges Lira became 20% weaker against the oyster. especially if you consider the Indian Rupee over the past year, making travel to the country much declining value of the Indian Rupee, About Abhas Desai which may prove to be a big cheaper. Visitors thronged to visit the detriment for the travel industry in culture of Istanbul and the Abhas Desai. Co- Founder and CTO, Taxidio Travel India has 9- 2019. magnificence of Antalya in droves. year experience in the field of However, as great a destination as The value of the Indian Rupee fell Information Technology. He last Turkey is for the Indian traveller, one 10.5% against the US Dollar and 5% worked with Aditya Birla must remember that the Euro is a against the Euro, over the last year. Pantaloons as Assistant Manager – widely used currency in the country. Among the BRICS nations, the only IT (Loyalty), where he was So, the affordability is not really felt responsible for converting business currency that performed even worse as much as one would ideally like. requirements of the organization was the Russian Rouble. From the into IT solutions and was at Tier-III increasing trade deficit to the Leisure to Lifestyle of the support escalation matrix growing price of crude oil, a variety Why then, is there such an upsurge in across all stores nationwide. of factors led to this dip. travel? The answer is quite simple. FEBRUARY, 2019 32 www.smeworld.asia NEWS

Ball, a brand known for its innovative the inbuilt storage upto 64GB, which is further expandable with MicroSD Card upto 128GB and a and latest technology products, brings separate 7mm expansion slot that can be used for ianother extension to its first timer installing a hard disk or SSD. products in India with Built-in 4G LTE Speaking on the launch, Rajeev Chaudhari, VP, Sales for connectivity 'iBall CompBook Netizen – iBall, states that “iBall is steadfast on delivering ACPC' to carry out the business innovation, striving to create and professional chores devices, that aids with seamless effortlessly. digital life to our entire customer base. With iBall CompBook Netizen iBall CompBook Netizen sports a 14-inch – ACPC, we believe professional FHD IPS multi-touch display with chores will allow customers to 1920x1018 pixel resolution that is powered experience a greater efficiency that by an Intel N3350 dual-core processor with too at never seen before prices” processing speed of upto 2.4GHz and 4GB DDR3 RAM. Enabling smooth multi- tasking and effortless productivity, it has

oundcore by Anker, a global leader in clear sound even in noisy spaces. The Stereo calls further technology known for its innovation enhance call quality by allowing you to hear the other person's voice in both earbuds. Sand intelligent solutions, launches its newest “Liberty Air” Earphones that Furthermore, the Graphene-coated drivers oscillate precisely, enabling Liberty Air to reproduce highly- guarantee Pure freedom from Wires paired accurate sound. Every detail of the music, from the with Superior call quality, Push and Go for deepest bass, to the brightest mids, and lush treble is easy pairing and graphene enhanced sound. delivered with extraordinary clarity and no distortion. Ergonomic in ear design with Ear Tips in multiple sizes, Establishing the unbreakable connection, the latest brings tailored fit to each ear size. The One-Step Pairing Bluetooth 5.0 technology and a FPC antenna creates a ensures immediate connect to the device. A seamlessly rock-solid connection for skip-free music. An Anker concealed sensor in both the earbuds enables seamless certified battery and a new generation Bluetooth chipset operation. The Two built-in microphones with uplink drive brings ultra-efficient power consumption for up to noise cancellation boosts clarity by recognizing user 5 Hours of playtime from a single charge and extend to voice and filtering out ambient noises to ensure crystal- 20-hour playtime with the charging case.

FEBRUARY, 2019 33 www.smeworld.asia tep Industries Pvt. Ltd. Step Industries now has a workforce of is a leading cable and over 1000 + employees and is expecting to achieve a turnover of over Swire manufacturing Rs 300 crs in FYI 2018-19. company with specialization in Challenges residential and commercial The biggest challenge that 'Step' had to cables and EPC (Engineering, Ankit Tayal face in the initial phase was to validate Procurement, Construction) its existence in the market and compete presence. We also aim to become a projects. Founded in the year with existing big players in the cable major contributor to govt. run 2011, by a first generation and wire manufacturing industry. electrification projects by grabbing entrepreneur Ankit Tayal and Another challenge was to gather more EPC contracts.” Sunil Tayal, the company has appropriate funds as the raw material to “As far as numbers are concerned, we manufacture wires as market do not are planning to expand further in next acquired the reputation of offer credit facility on the purchase of being one of the fastest couple of years and triple our turnover Aluminum & Copper. Also, the profit to more than Rs 1000 cr by 2020. The growing company in the margins are low due to high company is already on the threshold of industry through constant fluctuations in prices of Aluminum & major expansion of its manufacturing Copper. innovation and upholding high capacity by opening a new unit to meet Thanks to the enterprising and the growing demand. standards of quality and management skills displayed by the top services. management, Step industries overcame About Ankit Tayal all obstacles in no time and have A qualified Chartered Accountant and The Journey positioned itself as one of the leading a first gen entrepreneur, Ankit is using The company started off its wire and brands in the cable and wire his enterprising skills & strategic cable manufacturing unit in Rajasthan manufacturing industry& EPC vision to direct the 'Step' as one of the with a very low capital and with only contracts. front runner in the cable & wire one full time employee and a handful industry. of workers. Skill Development Understanding the changing needs of In a short span of 7 years, 'Step' has Skill development is definitely the industry, Ankit is incorporating taken quantum leap and witnessed important, particularly in new age technology into cable immense growth to become one the manufacturing industry where skill manufacturing. His focal point is to leading cable & wire manufacturing level of the employee directly affects establish the overall brand proposition companies in India with a strong PAN the output of the business. “We and position the brand as one of the India presence. The company has understand the importance of skill biggest players in the cable & wire acquired the reputation of being one of development and that's why we arrange industry, keeping in mind its core the fastest growing companies in the training programs like, Technical skills business values & philosophy that is, cable & wire manufacturing industry development, Personality development, to become a secure & sustainable through constant innovation and Soft skills development, Negotiation company, with safety performance that improves consistently, aiming the final upholding high standards of quality and skills, Sales management, etc. on a goal of zero incidents. services. time to time basis to upgrade the skill and efficiency level of our employees,” Thanks to his direction and In addition to cable manufacturing, says Ankit. astonishing management skills, this Step Industries also specializes in EPC truly Indian company is now one of (Engineering Project Construction) Vision and Growth India's largest in the B2B Cable & contracts and is a major contributor in Trajectory Wire industry, proudly serving nearly many central & state electrification 3,000 cable & wire dealers across 150 Ambitious and committed, Ankit adds, schemes like 'SaubhagyaYojna', IPDS cities of the country. (Integrated Power Development “we have a vision to become the best Scheme), R-APDRP etc. cables and wires manufacturers in India and also establish a strong global FEBRUARY, 2019 34 www.smeworld.asia