The Hindu : Business : New challenges for SMEs

Online edition of India's National Newspaper
Thursday, Apr 22, 2004

Business

Business

New challenges for SMEs

By Our Special Correspondent

NEW DELHI, APRIL 21. The ability of small and medium enterprises (SMEs) to grow, compete, export and innovate has been enhanced by several factors like the declining competitiveness of developed countries in mass production activities, forcing them into activities with greater skill and technological edge, sometimes in smaller facilities, Prabir Sengupta, Director, Indian Institute of Foreign Trade, said today

Mr. Sengupta in his inaugural address at a day-long workshop on `Technology financing for SMEs towards global competitiveness,' said the turbulence caused by rapid and continuous technological progress favouring small enterprises that had an advantage in the early stages of innovation before technologies settled down and economies of scale in production, marketing and R & D become important. However, Mr. Sengupta commented that globalisation, multilateralism and the fast changing technological scenario also posed a challenge to the present genre of SMEs in India. Y. S. Rajan, Principal Advisor, CII, in his keynote address, stressed on the importance of final delivery of the product, irrespective of the value chain.

Printer friendly page
Send this article to Friends by E-Mail

Business