Proud to say I am SME of India !
We, at Faridabad Small Industries Association (FSIA), have been in the service of our member units since 1977. As we grew in numbers and experience, we realized that we must transform ourselves to an organization which not only raises and highlights the problem & issues concerning the MSME sector, but also become a Center wherein we facilitate and stimulate the growth & development of MSMEs.
We started identifying common problems and tried to find solutions. We saw that, “For every Individual Problem, there is a collective Solution”. We successfully created alliances in PPP mode with various institutions and introduced innovative and path breaking services for MSMEs like Credit facilitation at low interest rates, Consumer Complaint Assistance at call, Placement Assistance, Training and much more.
These services directly benefited them in terms of bringing down their costs through:
To share these benefits to a wider Network by reaching out to MSMEs beyond our city & region, to form alliances with Associations, organizations and institutions servicing MSMEs across India and also to meet with requirements of Corporate Governance, we constituted Integrated Association of Micro Small & Medium Enterprises of India, popularly known as, IamSMEofIndia.
Indian SMEs represent the model of socio-economic policies of Government which emphasized job creation at all levels of income stratum and diffusion of economic power in the hands of few, discouraging monopolistic practices of production and marketing; and contributing to growth of economy and foreign exchange earning with low import-intensive operations.
Indian SMEs also play a significant role for Nation development through high contribution to Domestic Production, Significant Export Earnings, Low Investment Requirements, Operational Flexibility, Location Wise Mobility, Low Intensive Imports, Capacities to Develop Appropriate Indigenous Technology, Import Substitution, Contribution towards Defense Production, Technology – Oriented Industries, Competitiveness in Domestic and Export Markets and Generate new entrepreneurs by providing knowledge and training.
SMEs that have strong technological base, innovative, inventive, international business outlook, competitive spirit and willingness to restructure them can withstand the Present challenges and can successfully contribute 22% to GDP.
Despite their high enthusiasm and inherent capabilities to grow, SMEs in India are also facing a number of problems like sub-optimal scale of operation, technological obsolescence, supply chain inefficiencies, increasing domestic and global competition, fund shortages, change in manufacturing strategies and turbulent and uncertain market scenario. To survive with such issues and compete with large and global enterprises, SMEs need to adopt innovative approaches in their operations.
- Collective bargains
- Time saving methods
- Efficient utilization of energy
- Lesser stress and expenses