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The Current Landscape of SMEs in India
India’s SME sector is witnessing a dynamic transformation, driven by technological advancements, policy interventions, and growing global opportunities. Digitalisation has enabled small businesses to reach international markets, with platforms offering unprecedented access to global supply chains. At the same time, challenges persist in terms of access to credit, compliance with evolving regulations, and adapting to sustainability practices.
“I think it’s a really important aspect to recognise the unbelievable talent that we have in the SME and SME sectors of India.” says Gaurav Sahgal, MD & Head – Business Banking, HSBC India. “We at HSBC are truly privileged and honoured to be a part of such an amazing event that celebrates this talent. It means a lot, as the SMEs of this country are extremely relevant for India’s growth.”
The SME Champion Awards not only celebrate these businesses but also creates a platform for knowledge sharing and collaboration, vital for navigating the complexities of the modern business environment.
The Global Impact of Indian SMEs
Indian SMEs are increasingly becoming global players, with many making their mark in sectors such as manufacturing, technology, and services. Export contributions from SMEs account for nearly 48% of India’s total exports, underscoring their pivotal role in the country’s trade landscape. Initiatives like the HSBC & CNBC-TV18 SME Champion Awards inspire these businesses to scale greater heights by showcasing their potential and achievements.
“The most important aspect is around information and knowledge. At HSBC, we thrive on imparting the right knowledge so that SMEs and SMEs can appreciate the real opportunities before them and make the most of those opportunities in a compliant manner,” adds Sahgal.
A Shared Vision for Growth
With a commitment to empowering small businesses, HSBC’s partnership with CNBC-TV18 ensures that the SME Champion Awards is not just a celebration but also a platform for driving meaningful change. By connecting business leaders, policymakers, and financial institutions, the event facilitates the growth of SMEs in ways that align with India’s larger economic aspirations.
The HSBC Presents CNBC-TV18 SME Champion Awards stands as a testament to the resilience, innovation, and ambition of India’s small businesses, reminding us all of their vital role in shaping a prosperous future for India and the world. Looking ahead, as we prepare for the next edition of celebrating SMEs, it promises to be even more impactful, with a renewed focus on recognising the transformative role of SMEs.
This time we dive deeper into the many opportunities for the Indian SMEs, especially in the emerging sectors like green technology, digital commerce, and artificial intelligence, expanding their reach to spotlight businesses from Tier II and Tier III cities, and showcasing their unique contributions to India’s economic and social fabric. With an emphasis on innovation, sustainability, and global competitiveness, the next season aims to inspire more enterprises to unlock their full potential and continue shaping India’s journey as a global economic powerhouse. Stay tuned for more information!
This is a partnered post.
