Indian SMEs - Appearances can be deceptive. There may be many automobile garages and unstable sheds dotting Pune’s roadsides, but you never know how many of them have entered into tie-ups with foreign firms. For example, no less than 250 SMEs have come up in Pune’s auto cluster areas and most of these companies have entered into some kind of partnership with German auto component manufacturers.
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Appearances can be deceptive. There may be many
automobile
garages and unstable sheds dotting Pune’s roadsides, but you never know how
many of them have entered into tie-ups with foreign firms. For example, no less
than 250 SMEs have come up in Pune’s auto cluster areas and most of these
companies have entered into some kind of partnership with German auto component
manufacturers. Little wonder, Lufthansa airline has introduced a direct flight
between Pune and
Frankfurt six times a week to
cater to the needs of this growing segment.
Moreover, Indian SMEs are
also realizing the importance of intellectual property. They have started
giving due importance to research and IPR, informs Anjan Das who heads the
technology and IPR division at Confederation of Indian Industries. Going
forward, many of them will even raise their bars in terms of quality for
launching them in the international markets. Partnerships with international
companies are looked upon as the best means for
Indian companies to get their
hands on international technologies.
The Indian SME market is currently a $5 billion industry. However, it is still
an unorganized sector and has to encounter internal and external challenges.
SMEs have massive potential in terms of innovations which needs to be
consistently fostered for manufacturing new goods and services at competitive
rates.
India has the largest number
of SMBs as opposed to its counterparts like
Brazil,
Russia,
China and US,
as per Zinnov Research. In 2006-07, the number of SMBs in
India stood at
35 million and is estimated to go up by 48 million by 2015. The most remarkable
aspect being SMB contributed more than 60 percent to the Indian GDP. SMB
contribution to GDP has been steadily climbing at a rate of 12 percent in the last
7 years.
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