Reliance Commercial Finance in partnership with
Sustainable Development Research & Consulting and several other
organisations organised on August 23rd, 2012 in The Sheraton Hotel
in Chennai the Fourth event under the India SME Forum and Award
under a series titled "India SME Forum - Sustainable Competitiveness
and Growth, Profitably' that is now being held across the country.
The event was held in association with FISME, Go Air, Mahindra
& Mahindra, SMERA (SME rating agency of India Ltd.), Bloomberg
UTV and Laqshya.
On behalf of SDRC, Vinod Kumar, Senior Partner at SDRC gave the
inaugural address, explaining the requirement for SMEs to come
up and be a part of this platform which can go a long way in assisting
The objective of this event is to propel the SME movement by
nurturing entrepreneurship and support SMEs across India.
The experts who shared their knowledge and experience about funding
for sustainable growth with SME entrepreneurs included Parag Patki
- CEO SMERA; Souvik Sengupta - Business Head for SME Loans at
Reliance Capital Finance; Sreenivas Vudayagiri -Director &
Partner at Peepul Capital Advisors, Sandip Sabharwal - CEO Portfolio
Management Services at Prabhudas Lilladher and Vishnu Vardhan
- Regional Head South at BSE SME Exchange. Panel moderator, Vinod
Kumar, Senior partner at SDRC, cited various examples of SMEs
across India who have become successful large companies and suggested
that other SMEs share this knowledge and follow the leaders. Parag
Patki, CEO, SMERA, while giving a lowdown on Ratings remarked
“SMEs requires to get disciplined in terms of financial documents
like maintaining balance sheets, ensuring regular tax payments
and getting rated. For proper ratings SMEs have to avoid duplication
of balance sheets."
The next session was on advantages of Technology Upgradation
required by the SMEs and use of Cloud Computing with Shashi Ravulapaty
- CTO at Reliance Capital and Yogesh S - Head Enterprise Solutions
Business at Vodafone, as Panelists spoke on various aspects of
how new technologies, especially cloud computing could help SMEs
to expand and grow at a very low cost.
The Open House session was adressed by Shri S. Sivagnanam, Director
MSME Development Institute in Chennai, "Key issues faced
by SMEs seeking funding are, the mind-set of the Bankers in terms
of collaterals; lack of maintenance of original & basic documents;
financial literature, sound financial management and maintenance
of working capital."
Further Mr. Sivagnanam, observed, "SMEs have to take upon
themselves to pay tax regularly, maintaining a correct balance
sheet and apply for intellectual property rights & Quality
Management Certificates from local & international bodies;
along with participation in exhibitions & seminars to get
to the next level. SMEs can leverage on government schemes provided
by Ministry of MSME and can practise Group Mechanism innovated
by Industrial bodies. Under Group Mechanism 1 lakhs to 15 Crores
can be managed by clusters of 12 to 20 members."
In the post-lunch session, MSME entrepreneurs present at the
event got an opportunity to interact one-to-one with the various
panelists, network and get their doubts cleared. Most entrepreneurs
expressed the view that more such interactive sessions should
be organised for knowledge sharing purposes.
The event was attended by over 100 Small and Medium business
owners from Chennai.