Power2SME, the first buying club for SMEs in India, announced its foray into Chhattisgarh. Through its offerings, it will work towards providing finance and easing raw material procurement for MSMEs in the region.
With an aim to provide MSMEs with a competitive edge and help improve their business, Power2SME organised an SME Transformation camp in collaboration with Urla Industries Association (UIA). The SME Transformation camp, Power2SME’s flagship event, identified problems, discussed solutions and addressed operational concerns and roadblocks faced by MSMEs.
Talking about the expansion, R Narayan, Founder & CEO, Power2SME said, “With over 8.4 lakh MSMEs, Chhattisgarh is fast emerging as an important centre for manufacturing enterprises in the country. Our expansion into the state is thus a gradual expansion of geographies we believe we can best deliver our solutions. Through our widespread network, we will help MSMEs enhance operational efficiency and save costs by making raw materials available at bulk prices and in addition to this, we will also be able to assist them in getting working capital through our FinanSME platform seamlessly. We are committed to augment the sector’s productivity and revenues by offering them an ideal environment to operate in.”
With participation from over 80 SMEs, the event witnessed presence of Alok Trivedi, Chief General Manager, Chhattisgarh State Industrial Development Corporation Ltd., Rajeev S, Director Incharge, MSME – Development Institute, Ministry of MSME, Sudipta Aich, Branch Head, SIDBI and Ashwin Garg, President, UIA, who also addressed the session.
Addressing the gathering, Ashwin Garg emphasized on the significance of exploring the untapped potential of its Micro, Small and Medium (MSME) enterprises. “For the state to prosper, it is important for us to extend the required support to the sector. I am confident that MSMEs in the region will benefit hugely with programmes like the SME Transformation Camps organised. We hope that the participants would implement the knowledge they have gained from this key camp to boost their business further,” he added.
Founded in 2012, Power2SME enables small and medium enterprises (SME) to purchase raw materials such as metal, polymer, chemicals, paints, solar and yarn at bulk prices through demand aggregation methodology. In addition to this, it also caters to maintenance and repair needs of MSMEs, and aids enterprises in getting timely access to working capital, through its platform, FinanSME. Thus, Power2SME plays a crucial role in providing a one-stop platform to SMEs for their critical requirements.
Since its inception, Power2SME has been committed to enhancing productivity and revenues of the MSME sector, which is critical for overall growth of the Indian economy. In the past few months, the company has expanded its operations foraying into states like Uttar Pradesh, Karnataka, Telangana, Chhattisgarh, Orissa, Andhra Pradesh, Madhya Pradesh, to name a few.