Indian SMEs need access to finances

Wednesday, September 27, 2006

New Delhi: Indian small and medium enterprises (SME) have not kept pace with the country’s economic growth because of their inability to access finances, says industry experts.

The reasons for the poor growth of SMEs and strategies to put them on a high-growth curve were discussed Tuesday here during the launch of the first publication in the series of ’Emerging Auto Component SMEs of India.’

The first of its kind, this series is sponsored by Dun & Bradstreet, the US-based leading provider of global business information, in collaboration with the SME Rating Agency of India (SMERA).

“Recent research at the World Bank has re-established that the inability to access finance may be one of the reasons why we do not see a robust correlation between SME prevalence and the economic growth,” emphasised David Emery, president, international partnerships and Asia Pacific, Dun & Bradstreet.

“Increasing the strength of the financial system of the country will help Indian SMEs continue on their growth path,” Emery stressed.

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Source: Silicon India (link opens in a new window)