The MSME Expo 2024 in New Delhi was a key event for India's business community.
MSME Expo 2024
Entrepreneurs, industry leaders, and government officials, including Mr. Piyush Goyal, Hon’ble Union Minister of Commerce & Industry, gathered to discuss the future of MSMEs (Micro, Small, and Medium Enterprises). The expo emphasized how vital businesses are to India's economy, with government support playing a critical role. Among the various booths, one stood out by offering something different-support and guidance rather than products. This was the "My MSME House" initiative by Egniol, aimed at helping MSMEs better understand how to grow in today's business world.
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MSME Concerns: A Key Discussion Point
During the expo’s panel discussions, Mr. Rajnish Goenka, the chairperson, raised the concern of MSMEs fearing exploitation by larger companies, a concern that resonated deeply with many business owners. He explained that these businesses often feel overwhelmed by the complexities of the market and worry about being taken advantage of due to their limited resources and knowledge. This fear leads to hesitation in pursuing growth opportunities, as many MSME owners avoid partnerships or investments, fearing that they might be at a disadvantage. The panellists discussed how this anxiety keeps businesses from taking necessary risks, trapping them in survival mode rather than allowing them to thrive. The discussion highlighted the pressing need for reliable guidance and support to help MSMEs overcome these fears and unlock their full potential, a topic that became central to the event's conversations.
Highlights from the Expo
Throughout the day, entrepreneurs visited various booths, seeking solutions that could help their businesses grow. The expo provided valuable insights into financing, market strategies, and innovation. However, what many attendees found most challenging was identifying clear, practical advice they could immediately apply.
One booth, in particular, attracted a significant crowd. Offering guidance rather than products, it became a place where MSME owners could discuss their business challenges and get advice on managing their operations better. The large number of visitors reflected the need for this kind of direct, helpful information. It also showed that MSMEs were actively looking for trustworthy advice, validating the earlier discussions about their concerns in the business world.
A Helpful Space: 'My MSME House'
At the "My MSME House", visitors were greeted with a welcoming atmosphere. MSME owners appreciated the chance to talk to the experts there who listened carefully to their concerns. While many stalls showcased a variety of products and services, this booth stood out by offering clear, actionable guidance that helped business owners feel more confident in their next steps.
Without a strong push for sales, the approach felt genuine, and it stood out in a space where business pitches were common. The conversations were practical and supportive, and while the booth was often busy, the advice given was straightforward and useful. It was clear that people were walking away feeling like they had received something valuable.
During the panel discussion, Mr. Mrugrajsinh Jadeja, Director at Egniol Services Private Limited, was asked about their initiative, ‘My MSME House,’ and their relationship with MSMEs. In response, Mr. Jadeja emphasized that this wasn't their first effort aimed at empowering MSMEs. Before creating a physical touchpoint for business owners, Egniol had launched an online platform, ‘MSME Samvaad.’ This platform was designed to foster discussions, answer questions, and provide ongoing guidance for MSME growth. He noted how "MSME Samvaad" has already supported many MSMEs by offering them a space to engage with experts and stay informed about crucial industry developments.
Mr. Jadeja, shared that "My MSME House" is set to be available to MSME owners in cities across India. They are beginning with metro cities like New Delhi and Ahmedabad, where Egniol’s headquarters is located. However, Mr. Jadeja assured attendees that the initiative will soon be available to business owners nationwide. "For those who hesitate to seek guidance digitally, we will be there for them physically," he added, emphasizing that the expansion will happen sooner than expected to ensure all MSMEs have access to the support they need.
As the expo continued, it became evident that MSMEs are eager for clear and trustworthy guidance. The crowds at the "My MSME House" booth demonstrated just how much MSMEs owners valued the advice offered. Even though time was limited due to the large number of visitors, the sense of relief and encouragement from those who spoke with the team was clear. It was not about flashy marketing; it was about genuinely helping people solve their problems.
A Positive Path Forward
By the end of the MSME Expo 2024, it was clear that the event had provided MSMEs with much more than just networking opportunities-it had given them hope and confidence. The discussions and practical advice from various booths, including "My MSME House," helped attendees feel more prepared to tackle the challenges ahead. With the government’s backing and initiatives like these offering crucial support, the future for India’s MSMEs looks brighter.
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