Latest news with #ETMakeinIndiaSMERegionalSummit
Time of India
a day ago
- Business
- Time of India
ET Make in India SME Regional Summits: Surat's $1.5 trillion vision
Live Events In 1994, Surat was branded one of India's dirtiest cities. Today, it stands as a testament to urban transformation and entrepreneurial spirit, a metamorphosis that JB Dave, General Manager of the District Industries Center , believes reflects the city's core DNA of "resilience and willpower." Mr Dave delivered a keynote titled 'Empowering MSMEs: Roadmap for a Vibrant and Resilient Surat' at the ET Make in India SME Regional Summit - Surat, which took place on July 18. The summit had IDBI as banking and lending partner and Canon as tech transformation isn't just about cleaner streets. It's about economic ambition on a scale that could reshape western India's industrial landscape. By 2047, it aims to anchor an economic region worth $1.3 to $1.5 trillion, a figure that would represent 35% of Gujarat's projected economic engine runs on small and medium enterprises. The city ranks second nationally in Udyam registrations, cementing its status as an MSME hub that attracts entrepreneurs from across India and beyond. With a per capita income of $4,586 (20% above Gujarat's state average), Surat already punches above its weight numbers tell a compelling story: the Surat Economic Region, spanning six districts from Bharuch to Vapi, currently contributes $72 billion to Gujarat's $280 billion economy, a hefty 25% share that underscores the region's economic Surat dominates India's domestic textile market, Dave emphasised that the city's next chapter must be written in global markets. "Surat is capable of anything," he noted, 'But transitioning from domestic strength to export excellence requires MSMEs to navigate three critical challenges: improving quality, boosting productivity, and overcoming non-tariff barriers imposed by developed nations.'These barriers, ranging from carbon footprint concerns to human rights compliance, represent the new battleground for Indian manufacturers. NITI Aayog has already begun assisting MSMEs in decarbonising their operations, while the Gujarat Textile Policy 2024 now includes renewable energy equipment under 'plant and machinery', making businesses eligible for capital and interest the most immediate challenge facing Surat's MSMEs is cash flow management during production cycles. When buyers delay payments, small manufacturers often face crippling credit crunches. To address this, the MSME Facilitation Council in Surat, which is one of six established across Gujarat, serves as a mediator between buyers and council currently handles over 3,500 cases. Yet, Dave pointed out that many entrepreneurs remain unaware of their rights, including the legal requirement for payments within 45 days. This knowledge gap represents both a challenge and an opportunity for the city's business the MSME Development Act undergoing revision and a new MSME policy in development, Surat stands at an inflection point. The NITI Aayog's Surat Economic Region Plan extends to 2047, providing a long-term roadmap that aligns local entrepreneurial energy with national economic a city once synonymous with urban decay to a region targeting trillion-dollar economic output, Surat's journey embodies the transformative potential of Indian cities. As Dave concluded at the ET SME Summit - Surat, it's this embedded culture of resilience that continues to draw investors and innovators… and may well power the next phase of India's economic ET Make in India SME Regional Summits, ET MSME Day, and ET MSME Awards are flagship initiatives to celebrate the versatility and success of India's MSME sector. If you lead or are part of a micro, small, or medium enterprise, register for the ET MSME Awards 2025 before August 31, 2025.
Time of India
a day ago
- Business
- Time of India
ET Make in India SME Regional Summits: How Canon is powering Indian MSMEs with smart imaging solutions
Live Events Canon India , the Japanese imaging giant that many still associate primarily with cameras, has emerged as an unexpected champion of micro, small, and medium enterprises (MSMEs) in India, offering technology solutions that are transforming how businesses operate, secure their data, and scale their operations."People often associate Canon with cameras or printers. But Canon is much more; it is an imaging company. If it can be imaged, Canon can manufacture it," explained Raj Tiwari, Senior Sales Manager at Canon India, speaking at the ET Make in India SME Regional Summit in Surat. The summit, which had 'Make in Surat, scale for the world' as its theme, concluded on July 18, 2025. Canon was the tech enabler for the establishing its India operations in 1997, Canon made a strategic shift around 2013-14 that would prove transformative for MSMEs."When I joined Canon in 2009 after a banking career, we were selling globally-designed models. But as the Indian market grew, Canon started designing products specifically for Indian requirements," Tiwari localisation strategy has yielded practical innovations that directly address small business needs. Canon introduced models supporting Indian Legal paper formats, different from international standards, and developed specialised cheque scanners aligned with RBI's same-day clearing policies. These UV and non-UV cheque scanners are now widely used across regional and cooperative banks, demonstrating the company's deep understanding of India's unique business MSMEs operating in an increasingly digital landscape, security is paramount. Canon's approach addresses this critical concern through multiple layers of protection. "Here's a real-world example: an international bank suffered a cyberattack. Investigations revealed the breach occurred via an internet-connected A3 multifunction device," Tiwari noted, highlighting the often-overlooked security vulnerabilities in office multifunction devices come equipped with advanced whitelisting and blacklisting features to prevent such threats. It also offers secure, offline scanning solutions, ensuring sensitive business data remains of the most significant challenges facing MSMEs is document management efficiency. Canon's research reveals that globally, employees spend 5.5 to 6 hours per week simply searching for documents— a staggering productivity drain that particularly impacts smaller businesses with limited Document Management System addresses this challenge by enabling quick document retrieval using keywords, while a Uniflow print management solution ensures secure printing through user authentication, prevents misuse by tracking print activities, and delivers substantial cost savings. With each sheet of 70 GSM paper costing approximately 38 paise, reducing wasteful printing directly impacts an MSME's bottom dominance in India's imaging market— it has held the number one position in the mono and IR series for ten consecutive years — stems from more than just product quality. "Achieving leadership is one thing, but maintaining it is even more challenging. Product quality is essential, but after-sales service is what sustains long-term success," Tiwari emphasised at the ET SME Summit Canon is now positioned as a crucial partner for the Diamond City's MSME landscape. Its service-first approach resonates particularly well in a price-sensitive and value-driven market, where customers prioritise product quality, cost efficiency, timely service, and strong resale value. Canon's has a comprehensive service network with over 24 direct offices, 1,000 indirect service points, and 1,180-plus service partners covering every corner of company's commitment to MSMEs extends to environmental responsibility, which is crucial for businesses increasingly focused on sustainable operations. Technologies such as On-Demand Fixing save up to 40% energy, while managed print services reduce paper waste and carbon footprints. This alignment with eco-sustainability goals helps Indian MSMEs meet their environmental objectives while controlling operational innovation credentials are impressive, ranking among the top five US patent recipients and leading in R&D investment. It also manufactures machines for other original equipment manufacturers, demonstrating the technological depth that benefits Indian MSMEs through advanced, reliable approach to the Indian market reflects a deep understanding of local business culture and requirements. In Surat, a city Tiwari described as having "energetic vibes, Canon works through trusted partners such as the Messages Overseas Corporation , maintaining a remarkable 98.35% satisfaction localised partnership model, combined with transparent agreements and industry-leading buyback values, creates a support ecosystem that MSMEs can rely on for long-term growth plans. Canon A3 multifunction devices come with a dedicated five-year life span and the highest buyback value in the industry, providing MSMEs with predictable technology investment India's MSME sector continues its growth trajectory, Canon's vision of ' Making Business Simple ' is increasingly relevant. The company's comprehensive portfolio, spanning multifunction devices, document solutions, surveillance systems with AI-based analytics, and cybersecurity features, positions it as a one-stop technology partner for growing businesses."To stay relevant in India, one must understand its people, its pulse, and its sentiment," Tiwari concluded at the ET Make in India SME Regional Summit - a market where technology partnerships can make or break MSME growth ambitions, Canon's Japan-origin reliability combined with India-specific innovations offers a compelling proposition. As Indian businesses continue to digitise and scale, Canon's imaging expertise is proving to be much more than just about cameras. It's about capturing opportunities for sustainable business ET Make in India SME Regional Summits, ET MSME Day, and ET MSME Awards are flagship initiatives to celebrate the versatility and success of India's MSME sector. If you lead or are part of a micro, small, or medium enterprise, register for the ET MSME Awards 2025 before August 31, 2025.
Time of India
a day ago
- Business
- Time of India
ET Make in India SME Regional Summits: How Surat's MSMEs are weaving India's future
Live Events When Nikhil Garg moved to Surat three years ago, he wasn't sure what to expect. But the city didn't just embrace him— it helped his textile spare parts import business, N-Tex, thrive.'Surat adapts quickly. It's a city that thinks big and supports those with courage,' he said. Garg, who is Founder President of the Agarwal Business Network (ABA), led a fireside chat at the ET Make in India SME Regional Summit - Surat on July 18. The summit had IDBI as banking and lending partner and Canon as tech imports machinery and components from Germany and China and believes that importing is more than trade: it's a form of technology transfer. 'We're helping India stay globally competitive in garments by introducing innovations that weren't accessible before,' he underlined. Especially in knitting, a segment that now dominates 65% of the global textile market, Surat is rapidly catching up with international tech-forward mindset isn't limited to machinery. Entrepreneurs in Surat are investing in modern weaving methods such as airjet and waterjet technology in response to labour shortages. And the scale? 'Some textile units in Surat rival those in China,' Garg pointed the heart of this entrepreneurial engine is trust, something Garg has woven into the fabric of ABA. Launched under the Agrawal Samaj Trust, the not-for-profit network now connects over 120 business owners across sectors— from diamonds to insurance and textile manufacturers to astrologers.'MSMEs work on credit, and credit relies on trust. In ABA, we exchange filtered referrals based on real, successful experiences,' Garg network operates through focused industry groups. Its textile group meets monthly to share practical know-how, while its jewellery wing recently explored how silver is the next big thing for young buyers seeking affordable, yet stylish options.'None of this is taught in schools,' Garg said. 'It's grassroots knowledge, and it's changing the way MSMEs think and grow.'What makes Surat ideal for this transformation? For Garg, it's a mix of safety, cleanliness, infrastructure, and an unusually supportive bureaucracy.'Surat is like a mini India. There are Kathiyawadis, Marwaris, Gujaratis, all working together. It's peaceful, industrious, and fast-moving,' he noted at the ET SME Summit. He even called Surat 'the next Dubai', elaborating on its evolution into a smart hub for textiles, diamonds, and even advice for the next generation was simple but powerful: be practical and above all, have courage. He also warned against the trap many startups fall into: spending big on design and branding while ignoring customer for the younger entrepreneurs in his network, Garg sees a shift toward visibility and social media clout. But he's quick to point out that some of Surat's most successful businesspeople operate under the radar.'They aren't on Instagram and they aren't giving TED Talks. But they are building sustainable businesses, and that's what really counts,' he a city where tradition and innovation move hand-in-hand, Nikhil Garg was the hyperlocal voice for community-driven growth in Surat. For MSMEs across India, the city might just be the roadmap — and the revolution — they've been waiting ET Make in India SME Regional Summits, ET MSME Day, and ET MSME Awards are flagship initiatives to celebrate the versatility and success of India's MSME sector. If you lead or are part of a micro, small, or medium enterprise, register for the ET MSME Awards 2025 before August 31, 2025.
Time of India
a day ago
- Business
- Time of India
ET Make in India SME Regional Summits: Racing past China while Trump's tariffs clear the path
Live Events The timing couldn't be better for Surat's industrial renaissance. As geopolitical tensions reshape global supply chains and AI overhauls manufacturing, this city's diverse MSME ecosystem is positioning itself to capture opportunities worth tens of billions of transformation is most visible in Surat's diamond district, where Jayanti Savaliya of the Gem & Jewellery Export Promotion Council (GJEPC) oversees an industry that has evolved from manual processes to AI-driven precision in just two decades."Changes that took a decade earlier are now happening in two years," Savaliya shared, describing how robotic machines now handle diamond sorting while AI reduces jewellery design rendering from days to minutes. Savaliya was part of the panel 'From looms to labs: How Surat's MSMEs can lead India's next wave of industrial innovation'. The discussion was one of several insightful conversations at the ET Make in India SME Regional Summit in Surat, which took place on July 18. The summit had IDBI as banking and lending partner and Canon as tech other panellists were: Ashish Gujrati, Managing Director, Aditya Textile Solutions and Past President, SGCCI; Bikash Chandra Naik, Zonal Head, NSIC; and Prashant Patel, Past President of FISME and Director, RK Synthesis former President Trump's trade policies have become Surat's secret weapon. His tariffs hit China with 40% duties on jewellery while India faces just 16-26%, creating what Savaliya called "a huge opportunity" as manufacturing shifts from Chinese factories to Surat's 600 new jewellery tariff advantage extends beyond diamonds. Ashish Gujrati pointed to recent developments in Bangladesh, where a 35% tariff has global garment buyers scrambling for alternatives. Surat, which produces 65% of India's man-made fiber, stands ready to fill the numbers are staggering: Surat's garment industry is growing 25% annually, and the city has a $30 billion export opportunity in man-made fiber textiles alone. With global MMF exports projected to grow from $7.7 billion to over $73 billion, Surat's comprehensive ecosystem — spanning the entire value chain within 45km — positions it as a natural city's MSME transformation runs deeper than favourable trade winds. Prashant Patel, described a fundamental shift in business philosophy. "Historically, Indian companies avoided R&D, opting for copy-paste models," he noted at the ET SME Summit panel in Surat. "But since Covid-19, this mindset has changed."Today, Surat companies invest in developing new technologies, not just new products. This includes process optimisation that reduces raw material usage and addresses pollution concerns, which are critical factors for accessing international markets increasingly focused on government infrastructure supporting this innovation has evolved too. Bikash Chandra Naik spoke about NSIC's Single Point Registration Scheme, which reserves 25% of government procurement for small competitive edge increasingly lies in its skilled workforce. Despite China's scale and cost advantages, nine out of 10 diamonds globally are still processed in Surat, a testament to the city's unmatched expertise in precision advantage is expanding beyond traditional sectors. While Jaipur currently dominates gemstone processing, Savaliya underlined the untapped potential for Surat to leverage its existing infrastructure and skilled labour in this adjacent obstacles remain. Land costs in Surat now exceed those in competing industrial centers like Bharuch and Vapi. Skilled workers command premium salaries that stretch MSME budgets, while the lack of shared R&D infrastructure forces companies to either invest crores of rupees in equipment or relocate to areas with better common challenges haven't dampened ambitions. With the PM MITRA textile park awaiting implementation and India's global textile trade share poised for recovery from its current 2.94%, Surat's MSME ecosystem appears ready to capitalise on a convergence of technological advancement and geopolitical the panel discussion at the ET Make in India SME Regional Summit - Surat revealed, the city's transformation from a traditional manufacturing hub to an innovation-driven ecosystem reflects a broader shift in Indian industry, one where MSMEs aren't just adapting to global changes, but actively shaping a world where supply chains are being redrawn and AI is redefining manufacturing, Surat's diverse industrial base and rapid technology adoption may well position it to lead India's next wave of industrial innovation. The ET Make in India SME Regional Summits , ET MSME Day, and ET MSME Awards are flagship initiatives to celebrate the versatility and success of India's MSME sector. If you lead or are part of a micro, small, or medium enterprise, register for the ET MSME Awards 2025 before August 31, 2025.
Time of India
3 days ago
- Business
- Time of India
ET Make in India SME Regional Summit, Nagpur, ignites fresh concepts and innovative ideas to power local MSMEs
The ET Make in India SME Regional Summit in Nagpur, the third one in FY2025-26, brought together a diverse group of industry leaders, SME associations, and small business owners on July 24 to exchange ideas and outline a collective vision for industrial growth and national development. The ET Make in India SME Regional Summit is a series of nationwide on-ground events designed to unite local micro-, small-, and medium-sized enterprises (MSMEs), policymakers, enablers, and key industry stakeholders. The aim is to unravel emerging opportunities, address critical challenges, and foster meaningful knowledge-sharing and networking to drive the next wave of growth for Indian MSMEs. Explore courses from Top Institutes in Please select course: Select a Course Category Public Policy others Artificial Intelligence Design Thinking Product Management Technology Project Management Degree PGDM MBA Healthcare CXO Others Data Science Digital Marketing Management Finance Cybersecurity Leadership MCA healthcare Operations Management Data Science Data Analytics Skills you'll gain: Duration: 12 Months IIM Calcutta Executive Programme in Public Policy and Management Starts on undefined Get Details Skills you'll gain: Economics for Public Policy Making Quantitative Techniques Public & Project Finance Law, Health & Urban Development Policy Duration: 12 Months IIM Kozhikode Professional Certificate Programme in Public Policy Management Starts on Mar 3, 2024 Get Details The summit in Nagpur began with an insightful keynote address by Manohar Pote, Regional Head-Nagpur region, MIDC, who spoke on the overall industrial setup of the Nagpur and Vidharba regions as a whole and efforts being made to support MSMEs in the region. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like SRM Online MBA | India's top ranked institute SRM Online Learn More Undo ET Online Subhash Ingewar, Assistant Director, MSME Development and Facilitation Officer, Nagpur 'Over the next 5 to 10 years, Maharashtra is poised to contribute over $1 trillion towards India's goal of becoming a $5-trillion economy. Every effort is underway to make this vision a reality, with a strong focus on empowering MSMEs, which are central to driving innovation, job creation, and inclusive economic growth across the state,' said Pote. 'In Nagpur, while the orange sector holds symbolic significance, its economic contribution remains below potential. In contrast, defence and engineering sectors are witnessing rapid growth, positioning the city as an emerging industrial hub. Looking ahead, lithium battery manufacturing and steel industries are expected to gain strong momentum over the next five years,' added Pote. Live Events Following the keynote, a special address was delivered by Subhash Ingewar, Assistant Director, MSME Development and Facilitation Officer, Nagpur. In his speech, he highlighted the remarkable growth of MSMEs over the years, including their ability to export products. 'Our initiatives for MSME development are closely aligned with the vision of Atmanirbhar Bharat. To achieve true self-reliance, we need to foster new ideas, fresh concepts, and innovative thinking. A few years ago, we were dependent on imports for a wide range of products,' said Ingewar. ET Online Nagaraj Garla, Executive Director, IDBI Bank, spoke about several issues related to the financial constraints of the sector. 'Today, thanks to new ideas, innovative concepts, and the rise of start-ups, India is successfully moving towards import substitution. We are not only reducing our dependence on foreign goods but also developing indigenous technologies that are now enabling us to export our products to global markets,' added Ingewar. This was followed by an intriguing fireside chat with Nagaraj Garla, Executive Director, IDBI Bank, on the topic 'Catalysing Make in India Growth: IDBI Bank's Strategic Imperatives for Empowering MSMEs.' Garla spoke about several issues related to the financial constraints of the sector. 'If we look at the statistics, the unmet credit demand of MSMEs in India still stands at nearly Rs 30 lakh crore. This presents a massive opportunity for banks and NBFCs to step in and bridge the gap. With continued efforts and focused financial inclusion, we could realistically aim to close this gap within the next five years,' said Garla. He emphasised the various initiatives undertaken by the bank to improve cash flow for MSMEs, highlighting the pivotal role technology has played in achieving this objective. However, he pointed out that access to markets continues to be a major pain point for MSMEs. 'The buyer-seller connection is still missing,' Garla noted, stressing the need for strategic tie-ups with a wide range of companies to create a stronger market linkage and boost MSME growth. ET Online Sujay Sharma, Sales Manager, BIS Channel, Canon India, gave a presentation on 'Making Business Simple with Canon'. Following that, Sujay Sharma, Sales Manager, BIS Channel, Canon India, gave a presentation on 'Making Business Simple with Canon' at the ET Make in India SME Regional Summit in Nagpur. Sharma shared valuable insights on emerging printing technologies that incorporate advanced layers of security. He noted that these innovations could be immensely beneficial for entrepreneurs aiming to create a distinct identity and competitive edge for their businesses. Thereafter, local industry leaders and association heads got together to participate in an engaging panel discussion on 'Unlocking Vidarbha's potential: Building a stronger MSME ecosystem in central India.' Julfesh Shah, Chairman, Chamber of Small Industry Associations ( COSIA ), Vidarbha chapter, was optimistic about the ongoing developments in the industrial ecosystem of the Vidarbha region. 'In the next five years, Vidarbha, with Nagpur at its core, is poised to emerge as a major industrial hub for India. I am very optimistic; we can clearly visualise the remarkable industrial growth taking shape here, thanks to the strong support from the government,' said Shah. ET Online Local industry leaders and association heads got together to participate in an engaging session. Prashant Mohta, Managing Director, Gimatex Industries (Textiles) & President, Vidarbha Industries Association , highlighted a few key challenges that must be addressed to accelerate the growth of the textile sector in the Vidarbha region. 'There isn't a single textile university in the Vidarbha region,' noted Mohta. 'If we truly want to boost the textile industry here, skill development must be prioritised. Institutional support through dedicated courses and specialised programs is essential to build a skilled workforce and meet the sector's growing demands.' Mohota also noted that the growth momentum is clearly shifting towards the man-made fibre (MMF) segment, while the competitiveness of cotton is gradually declining. Meanwhile, Prashant Waghmere, DGM & Regional Head, Agricultural and Processed Food Products Export Development Authority (APEDA), discussed the agricultural prowess of the region and work being done on the ground not only in oranges and cotton but also in various other varieties. 'We are actively working to increase the share of exportable agri-produce from Nagpur's orange growers by connecting them with overseas markets,' said Waghmere. 'Under our MoU with ICAR, our focus is on capacity building and fostering innovation among agricultural stakeholders.' The final session of the evening was a presentation by Suneed S, General Manager, Credit Solution Centre, IDBI Bank, highlighting the organisation's initiatives, outreach, and tools empowering MSMEs. ET Online Suneed S, General Manager, Credit Solution Centre, IDBI Bank, highlighted the organisation's initiatives, outreach, and tools empowering MSMEs. This marked the successful conclusion of the third event in this year's ET Make in India SME Regional Summit series, held in Nagpur. The summit underscored how MSMEs can harness their core strengths while navigating key challenges through innovation, collaboration, and policy support. Serving as a vital platform, the event brought together industry leaders, policymakers, and small businesses, facilitating valuable insights, networking opportunities, and discussions aimed at driving inclusive and sustainable growth in the region. The event sponsors were IDBI Bank as Banking & Lending Partner and Canon as Tech Enabler. The Summit now heads to Chandigarh on August 7, 2025, for another round of conversations, discussions, and learning in the ET SME Make in India pan-India series.
