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6th CII WR DIGITAL MSME Summit and Exhibition 2020
“Recreating MSMEs in the New Normal World”
Thursday, Friday and Saturday, 29, 30 and 31 October 2020, CII Hive Platform
Corona virus (Covid19) has shaken and deteriorated the global economy. A sector that is reeling under the impact of the COVID-19 outbreak is the Micro, Small and Medium Enterprises (MSME), which contributes to around 35 percent of India's manufacturing output. Technology is the new backbone of MSMEs who want to succeed in the post-COVID world. Digitization is no longer optional in a scenario where remote access to everything will be the order of the day along with easy access to finances and a proper government policy framework.
Challenges Faced in COVID-19
In spite of being the backbone, the MSME sector is riddled with challenges in this COVID times which are impeding the growth and development of MSMEs
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Access to knowledge services
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Limited access to Timely and adequate financial resources for relief in the pandemic time
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Lack of access to Credit, risk capital
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Perennial problem of delayed payments, etc.
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Lack of infrastructure support to help fight these tough times
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Inadequate linkages to domestic and global markets
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Age-old inefficient methods of operating business and their inertia to adopt technology
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Availability of skilled man-power
MSME lack basis of digital know-how on part of the businesses to carry out online operations. This could mean trouble creating an online store, finding the right payment gateway or even getting skilled manpower to carry out online business operations. While the primary goal for many MSMEs is to set a strong base, digitization is the long term goal, for the entire sector. This compels the government, banks, technology providers and corporates to work together for digitally empowering MSMEs. Entrepreneurs must understand and adapt to the powerful wave of digital marketing, trends and practices and harness it into their value chain. Sustainability is the new way to keep a business alive and thriving.
After successfully executing 5 successive editions, Confederation of Indian Industry (CII), Western Region is organizing the 6th CII DIGITAL WR MSME Summit and Exhibition 2020 on 29, 30 and 31 October 2020 on the CII Hive Platform.
About the Summit
Keeping in mind the great impetus needed for the MSMEs to recover and to help then back into a path of growth and prosperity towards creating a path for Global Intervention in mind, and after successfully executing consecutive 5 editions of the MSME Summit Confederation of Indian Industry (WR) is organizing the 6th Edition of the MSME Summit and Exhibition 2020 on a virtual platform on 29,30 and 31 October. The theme of the Summit is “Recreating MSMEs, in the New Normal World”
The magnitude of the impact on MSME exporters can be gauged from the statement of the World Trade Organisation (WTO) which has projected that global trade in goods is set to decline steeply between 13 per cent and 32 per cent in 2020 as countries across the world are battling with the Covid-19 pandemic. The current coronavirus pandemic (Covid-19) lockdown has substantially disrupted the operations of MSMEs due to their dependence on the cash-economy that is severely hit by the lockdown, the physical non-availability of workers, and restrictions in the availability of raw materials and transport infrastructure. This has had substantial ramifications throughout the economy and therefore, a robust policy response is essential.
The Primary objective of the summit is to help MSMEs bounce back from these tough times and to help them adopt to the new normal and make them aatmanirbhar. This year the stress will be laid on how MSMEs can adapt to these changing times to reach a global platform and help to integrate their functions into the global market by directly engaging with the global players and to help them achieve Technical prowess and adopt new technology which in turn will benefit growth.
CII through this three day Summit and Expo, is specifically aimed at taking the government of Maharashtra’s dream ahead by enabling MSMEs to recover and bounce back from the economic stress that COVID-19 has placed on them. The summit will be looking at the gaps and opportunities for MSMEs across four major areas
1) Cross Border Opportunities for MSMEs to Scale up
2) Adopting Digitization to boost MSME productivity
3) Policy Reforms to make MSMEs Atma – Nirbhar
4) Bringing back exports for MSMEs in the COVID-19 era.