What were the key challenges for MSMEs discussed at the ET Make in India SME Regional Summit in Lucknow?

Challenges included business volatility, compliance complexity, and limited access to finance and risk protection.

How is IDBI Bank supporting MSMEs in Uttar Pradesh?

IDBI Bank is focusing on strengthening MSME clusters and tailoring financial products with risk-mitigation.

What is the significance of operational excellence for scaling businesses, as discussed at the Lucknow SME Summit?

Operational excellence is vital for scaling businesses, built on right infrastructure, metrics, and behaviors for continuous improvement.

Home / Business and Economy / UP MSMEs: Policy, Finance, Growth Drivers Unveiled

UP MSMEs: Policy, Finance, Growth Drivers Unveiled

24 Dec

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Summary

MSMEs are crucial for UP's job creation and economic growth.
Cluster financing and government schemes are key enablers.
Operational excellence is vital for sustained business scaling.

UP MSMEs: Policy, Finance, Growth Drivers Unveiled

The ET Make in India SME Regional Summit in Lucknow, held on December 19, spotlighted critical priorities for Uttar Pradesh's micro, small, and medium enterprises (MSMEs). Discussions revolved around addressing challenges such as business volatility and limited access to finance, while underscoring the sector's significant contribution to employment and regional economic expansion. Government support schemes and cluster-based financing were identified as crucial enablers for MSME growth.

Experts and officials highlighted various state government initiatives designed to support MSMEs, including schemes addressing land bank issues and promoting district-specific products like Bhadohi carpets. The summit also featured discussions on financial empowerment through institutions like IDBI Bank, which is focusing on strengthening MSME clusters. Emphasis was placed on tailoring financial products and employing risk-mitigation techniques to meet specific sector needs.