Banknet Group announces launch of initiatives for small and medium enterprises (SMEs)

Mumbai, July 19, 2010: Small and medium sized enterprises play a central role in the Indian economy. They are a major source of entrepreneurial skills, innovation and employment. Contributing 45% of industrial output and 40% of exports, the small and medium enterprises (SME) today are playing a vital role in the growth of Indian economy.

As more than 65% of Indian population lives in rural and semi rural areas, small business becomes a major source of income for many residing in these areas. After agriculture, small business in India is the second largest employer of human resources. In recent years, beyond the economic growth, there is a greater urgency for 'inclusive growth' in which SMEs are expected to play a critical role.

According to Anurag Khanna, Chairman & MD, Banknet Group,. Indian SMEs have the capacity to grow big. However, they need proper guidance, information and appropriate solutions to streamline their operations. Therefore Banknet Group has decided to launch various initiatives for the SMEs in India. These initiatives include-

1. Banknet Conferences to organize exclusive seminar series , which will focus on Emerging Opportunities & Challenges faced by SMEs.

2. Banknet Publications will release collection of papers related to SMEs

3. will launch an exclusive section for SMEs

4. Six Sigma Eventz will provide cost effective event management solutions to SMEs

5. Six Sigma Films will provide one stop assistance for advertising requirements of SMEs

Elaborating further on SME Seminar series, Mr Anurag Khanna, CMD, Banknet Group advised that these will be a monthly/ quarterly seminars to be organized across metros & major cities of India. These seminars will provide a neutral platform to SMEs and give them insights into- Policies, Technology Upgradation, Financing Solutions, Credit Ratings, Forex & much more.

The first in the series is planned to be organized in Mumbai. Seminars will be addressed by senior government officials and professionals from Major Banks, SMEs, SIDBI, Credit Rating Agencies, IT Cos. Insurance Cos. Business Schools, Management Consultancies.

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