Post-pandemic biz growth to favour MSMEs with a plan

The need to create more linkages between India and south-east Asian economies like Vietnam were pointed out by industry experts at an online discussion recently organized by Business Standard which focused on 'Leveraging on MSME Strength to become a global hub'.

The online Smart Business event held in association with World Trade Centre Mumbai on 12 June saw global participation from entrepreneurs and small businesses, many of whom face liquidity, logistics and marketing challenges during the current coronavirus pandemic. At the same time, they expressed keen interest in upcoming areas as appetite for growth remains strong among MSMEs in India.

Frank Weiand, Technical Director of USAID SMELink Project in Vietnam, said small businesses across countries should use this time to strategize, identify their markets and push for refining their business plan.

Rene Van Berkel, Representative of the United Nations Industrial Development Organization - India, said local and global supply chains are set to be massively redrawn soon, and companies should draw on their strengths to remain in control.

Nikhil Puri, Global Head of Sourcing and Procurement at Sterlite Technologies, said despite limitations businesses should take utmost care in retaining customers and should approach day to day challenges through the prism of service towards long-standing business partner entities.

Nguyen Viet Long, Deputy CEO of Becamax, the leading infrastructure development company in Vietnam's Binh Duong Province invited Indian companies to closely trade and explore opportunities in Vietnam. Trade in information technology goods and industrial products is set to boom as Vietnam places increasing importance on India, he said.