With Indian SMEs playing an important role in India’s economic growth, innovation and disruption are the two elements that can ensure seamless and systemised operations for them. Speaking on the sidelines of BW Businessworld’s Growth Leadership Conclave & Awards, 2018 in Hyderabad today, Gowra Srinivas, Chairman, Gowra Group, Managing Director- Gowra Petrochem Pvt. Ltd and Gowra Leasing & Finance Limited and President, FTAPCCI highlighted the importance of these two as a vital aspect of making businesses simple.
“Digitisation is less efforts and good results as everything gets systemised. Innovation too plays a key role across sectors and is absolutely necessary if the business has to grow. Think local act global should be the success mantra for our SMEs,” he stated.
Srinivas also highlighted that Government initiatives like Demonetisation and GST are a good endeavour in the direction of making businesses streamline their operations.
“GST is a good initiative in this direction as informal business transactions will go away from the market. Although there are some hiccups, but they are momentary and shall be addressed eventually. Also, genuine businesses are not going to be affected by demonetisation, it is only the ones who are at fault are making all the noise,” he asserted.
Stressing on the role of startups in the Indian SME sector, Srinivas expressed confidence that the disruptive businesses have and are going to bring in a major breakthrough with the way businesses are done.
He also affirmed that SMEs are the answer to ensure growth in Indian economy. “If you want to have good employment rate, SMEs are the answer, if you want to have a sustained GDP growth, SMEs are the answer. Thus, Indian SMEs offer the opportunity for growth like never before.”
Srinivas said that sectors like Pharma, Life sciences, and Aerospace hold a lot of promise and SMEs can enable their growth by leaps and bounds.
As Indian economy is poised to become a 5 trillion economy by 2025, SMEs are going to play a huge role in it as they are the growth engines of Indian economy.