An unprecedented transformation is happening in India, where MSMEs are at the forefront of this change, Sunjay J Kapur, President, the Automotive Component Manufacturers Association of India (ACMA) & Chairman of Sona Comstar, has said.
Addressing the ninth MSME Summit, organised by ACMA, he stressed that MSMEs need to invest in research and development and build capacity to stay competitive in the innovative and competitive auto component manufacturing industry.
MSME Competitive (LEAN) scheme, under the MSME Champion scheme, is expected to enhance the productivity and competitiveness of SMEs, he said.
As a representative of the auto component industry, he expressed confidence that these initiatives would help the industry achieve world-class quality standards and pave the way for more significant success.
The summit aimed to recognise the challenges and possibilities for MSMEs. It was attended by Kapur along with Sreekant Somany, Chairman-MSME Committee, CII and CMD, Somany Ceramics, Shradha Suri Marwah, Vice President, ACMA and MD, Subros and Vikrampati Singhania, Chairman NR, ACMA.
The summit's focus was centred around the theme 'Bracing-up for Transformation – Opportunities & Challenges for SMEs,' emphasising the significant role that MSMEs will continue to play in the Indian economy, particularly in the automotive component manufacturing industry.
During the summit, four-panel discussions were held on various themes, including Bracing-up for Transformation - Opportunities & Challenges for SMEs, Reinforcing Financial Confidence, Building Credibility, and Managing Customer Expectations - Bridging the Gap. These sessions highlighted some significant challenges facing SMEs and proposed practical solutions to overcome them.
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