Plexconcil, Dun & Bradstreet Forge Alliance To Boost MSME Growth In India

The Plastics Export Promotion Council (Plexconcil) has announced a strategic partnership with Dun & Bradstreet Information Services India, a global B2B data provider. The collaboration aims to establish an ecosystem that promotes the growth of the micro, small, and medium enterprises (MSME) sector in India.

The objective of the collaboration is to enhance the visibility of MSMEs, facilitate their entry into global markets, connect them with potential customers, discover new suppliers and channel partners, manage risks, and identify avenues for growth. Plexconcil, in a statement, emphasized the significance of this initiative in providing essential tools to MSMEs, enabling them to overcome challenges and drive business expansion.

The Indian government has set a target for the country to become a USD 5 trillion economy by FY 2025 and SMEs will play a critical role in this growth journey. This segment is expected to contribute 50 per cent of GDP by FY 2025 from the current 30 per cent. To achieve that target, SMEs must contribute 75 per cent to the incremental GDP between today and FY 2025. This represents a significant contribution of SMEs to India's growth and they will require increased support from the government, policy makers, and business service providers.

Empowering MSME Growth

Hemant Minocha, Chairman of Plexconcil, highlighted the empowerment of SME and MSME members through the diverse services offered by Dun & Bradstreet (D&B).

''Leveraging D&B's solutions, MSME plastic exporters cannot only fortify their credibility and visibility on both domestic and global fronts but also gain a competitive edge across various platforms within their industry peers,'' Minocha said.

Avinash Gupta, Managing Director & CEO India, D&B, expressed the partnership's potential impact on the growth of MSMEs, particularly those engaged in plastic exports. He noted that, with over 99 per cent of businesses falling under the Micro, Small, and Medium category in India and a significant 94 per cent operating in an unorganized capacity, this partnership is set to play a vital role in propelling the growth of the sector.