SMEs play a key role in Indian Economy besides promoting and focusing largely in manufacturing sector. Toeing the Make in India vision of our Prime minister, the role of start-up especially small business is inevitable in the nation’s growth.
The Talk which echoes the ideas and thoughts of many small and large business entrepreneurs enables the much needed platform to discuss and collaborate the ideas into meaningful outcomes. An IBEF report clearly indicates the much organized growth of SMEs mainly in the form of dedicated clusters. Such cluster based growth provides triple advantage namely collective strategy, productivity and innovation.
The current scenario and efforts witnessed presently include smart cities, skill India program and various investor meets across the country. Such productive activities make it a more holistic approach towards providing a conducive environment for the start-up.
In the views of Dr.S. Manoharan, Indian SMEs have the 3T Edge which is elaborated as
Talent: The availability of enormous talent predominantly the young workforce which no other nation in the globe is having currently. Deploying them effectively will help us scalability.
Technology: Todays start-up ecosystem is well equipped in the technology front. With the advent of lean manufacturing, advanced R& D facilities, Design Awareness and ICT, Technology truly plays the role of enabler in the growth story.
Tenacity: Despite global slowdown and the given downtrend, Entrepreneurship is in the roots of Indian culture. The tenacity displayed by Indian SMEs is quite phenomenal. They clearly go on to state that they stay here with a purpose to be achieved.
With the 3T Edge India is poised to be incredible for start-ups.
Dr. S. Manoharan
Associate Professor (Marketing)
Department of Management Studies and Research Centre
BMS College of Engineering, Bangalore.