The second edition of FEAspire’s SMExports Summit is a fully packed-out success at Eros Hotel, New Delhi.
Opening with a networking breakfast, the summit provides a unique platform for SMEs to connect and trade in a world of opportunity and change.
India’s exports of merchandise and services touched a record high of $669 billion in the financial year 2021-22, growing 34.50 per cent from the previous fiscal. This growth momentum is expected to continue in the current financial year with exports in April – January period registering a 17.3 per cent growth to $641 billion over the same period in the last fiscal year.
Moreover, it is also important to note that, according to the official data, the MSME sector’s share in India’s annual merchandise exports had dropped to 45.04 per cent in FY22 from 49.75 per cent in FY20. As of August 2022, the share had further dropped to 42.67 per cent. Nonetheless, MSME exports had surged 21.8 per cent from 155.9 billion dollars in financial year 2020 to 190 billion dollars in financial year 2022.
But, with the global economy experiencing a surge in inflation and facing risks of a significant slowdown in growth, there is no doubt that there will be strong economic headwinds over the next few years.
In this context, FE Aspire’s second edition of the SMExports Summit aims to enable more MSMEs to capture the global markets.
It also strives to remove barriers small business owners face when entering and expanding in international markets in order to facilitate traction and growth.
The summit is designed for the leadership teams of India’s SMEs looking to increase market share, or break into new markets.
An initiative of FEAspire – — the MSME dedicated vertical of Financial Express Digital – the summit has Adobe as its associate partner, ECGC Ltd as its supporting partner and FIEO as its knowledge partner.
FEAspire is proud to set a high bar with the quality of content submissions for this year’s FE SMExports Summit, and to offer an innovative line-up of diverse sessions.
Giving honest advice on exporting and constructive insights into embracing digital technology to maximise business potential, high level panels are set to discuss cutting edge topics such as identifying the right market for exporting and managing financial risks in trade to ease of logistics for exporters with digitisation.
Small business founders will hear first-hand from the most senior, influential and informed industry captains on how to access export opportunities in key overseas regions, including how SMEs are winning contracts overseas.
This content-packed summit highlights the international opportunities available to small businesses and prepares them for their next steps in selling their products/services globally.
It also underlines how the Indian government, trade and commercial bodies can support and energise this palpable and dynamic trend.
By accessing this event, small business founders get to connect with MSME promoters, accelerators and associations, banks, payment solution providers, financial services organisations, regulatory authorities, technology companies, logistics players, compliance experts, trade finance companies and export promotion councils.
Follow our live blog to know about what’s happening at FE SMExports Summit 2023.
That's a wrap for the second edition of FEaspire's SMExports. We had a whole day of intelligent and insightful conversations, sessions and more. Hope you had a meaningful day at the summit.
Sonal Khetarpal, Editor, SMEs, Financial Express Digital delivered the vote of thanks and shared the key takeaways from the SMExports Summit 2023.
Neha Bhatia, Document Cloud – Specialist, Adobe said that digital transformation is the new buzzword. But heavy usage of paper is still prevalent in the logistics sector. So how we could automate manual based processes is very important. Digitisation leads to efficiency and speeds up the process. It also leads to compliance and security, Bhatia added.
Animesh Saxena, Managing Director and CEO, Neetee Clothing said that everything is data driven or information driven.
Digitisation plays a very important role in logistics be it a seaport or an airport. Exporters can trace where their goods are instantly. Thanks to digitisation, said Vipin Vohra, Chair, Civil Aviation Committee, PHDCCI and Chairman, Continental Carriers.
Nikita Singla, Associate Director, Bureau of Research on Industry and Economic Fundamentals (BRIEF) said the biggest challenge MSMEs face is with their cargo and that has changed with digitisation. “In 2010, it was taking 14 days for import clearance of cargo and now it takes a little over three days. Processes are being digitised. Reforms such as Turant Customs has been introduced for speedy clearance of goods at air and seaports.”
Digitisation is inevitable, stated Preeta Misra, Senior Director – CBIG, ESG and MSME at Dun & Bradstreet India moderate the knowledgeable session. “Also gives us more scope for growth, transparency, data.”
After an insightful participation from the audience following Chawla’s presentation, an interesting panel discussion on Ease of Logistics for Exporters with Digitisation is underway.
The distinguished panel comprises Akash Agrawal, CEO, Freight Forwarding, DP World Subcontinent; Animesh Saxena, Managing Director and CEO, Neetee Clothing; Neha Bhatia, Document Cloud – Specialist, Adobe; Nikita Singla, Associate Director, Bureau of Research on Industry and Economic Fundamentals (BRIEF); Vipin Vohra, Chair, Civil Aviation Committee, PHDCCI and Chairman, Continental Carriers. We are happy to have Preeta Misra, Senior Director – CBIG, ESG and MSME at Dun & Bradstreet India moderate the knowledgeable session.
FEAspire’s SMExports Summit continues to highlight opportunities for SMEs to expand globally, cite the barriers to success and how the Indian government, trade and commercial bodies can support and energise this palpable and dynamic trend.
When you export, you should be able to protect your budgeted rate and find which sort of finance is good for you, says Kapil Bhatia, EVP & Head, Commercial Banking, @FederalBankLtd#smexports #financialexpress #feaspire #2ndeditionsmexports https://t.co/S53GO7Luz5— Financial Express (@FinancialXpress) February 24, 2023
ESG has become one of the important parts for business in the present times. If India has to be a part of global supply chains, we have to follow the environment guidelines and ESGs, Sushil Muhnot, Senior Advisor, , CUTS International (Moderator).#smexports #financialexpress pic.twitter.com/mJDM9resPJ— FE Aspire (@FEAspire) February 24, 2023
The wait is over and we are Live!— FE Aspire (@FEAspire) February 24, 2023
Our Masterclass expert, @iamrajivchawla, Founder & Chairman, @iamsmeofindia is here to speak extensively about the growth strategies MSMEs can adopt to scale up their exports in the changing global market. #smexports #financialexpress pic.twitter.com/QKih2X8xwD
"The incidence of volatility in the foreign exchange market has been increasing sharply. You have to evaluate your financing options at different times since the market is very volatile."— Financial Express (@FinancialXpress) February 24, 2023
– Anand Tandon, Founder & CEO, @Myforexeye_Ind
#smexports #financialexpress #feaspire https://t.co/gjdERaeBfq
Ignorance is not bliss: it is suicide, advised Rajiv Chawla, Founder & Chairman, IamSMEofIndia
Become a member of export promotion organisations to stay connected.
Invest in yourself
Rajiv Chawla, Founder & Chairman, IamSMEofIndia mentioned
Four things are disrupting the world of businesses:
The best thing about present day is that it offers everybody equal opportunities, Rajiv Chawla, Founder & Chairman, IamSMEofIndia added.
Moderator of the Panel @khattar_gautam, Principal, @PwC_IN & Co LLP has asked questions such as how to identify export markets and how B2B and B2C markets differ in online trade. #smexports #financialexpress #feaspire #2ndeditionsmexports https://t.co/HGaZOvHwjF— Financial Express (@FinancialXpress) February 24, 2023
A content packed Masterclass on Best Growth Practices for MSMEs in Exports by Rajiv Chawla, Founder & Chairman, IamSMEofIndia
On how SMEs can deal with bankers, Kapil Bhatia, EVP & Head, Commercial Banking, Federal Bank
All panellists agreed that bankers and insurance providers should be treated as friends.
“Risks and business go side by side. Risks have to be mitigated.” said Gaurav Anshuman, DGM & Regional Manager, Northern Region, ECGC. He added that Indians are very emotional but in business the relationship is with profitability. Credit insurance is the best tool, he added.
Speaking about currencies, Euro is an interesting currency as one's net cost of borrowing comes down to one and a half percent, said
Anand Tandon, Founder & CEO, Myforexeye Fintech.
While letters of credit are safe when you go into litigation in case you are not paid, said
Ashok Saigal, MD, Frontier Technologies and Co-chairman, CII National MSME Council. Saigal added that one must know his customer.
To survive economic shocks from global crises such as the COVID-19 pandemic and the war in Ukraine,
SMEs must diversify their exports such as getting into defence exports, advised Sushil Muhnot, Senior Advisor, CUTS International
It is a well known fact that international trade carries substantially more risks than domestic transactions, due to differences in language, culture, politics, legislation, and currency.
A critical panel discussion on Managing financial risks in trade begins.
Anand Tandon, Founder & CEO, Myforexeye Fintech
Ashok Saigal, MD, Frontier Technologies and Co-chairman, CII National MSME Council
Gaurav Anshuman, DGM & Regional Manager, Northern Region, ECGC
Kapil Bhatia, EVP & Head, Commercial Banking, Federal Bank
Vijay Kalantri, Chairman, MVIRDC World Trade Center, Mumbai and President, All India Association of Industries
The session is moderated by Sushil Muhnot, Senior Advisor, CUTS International
“Interest Equalization Scheme of DGFT provides 3% interest rate on pre and post shipment credit to MSME manufacturing exporters,”— Financial Express (@FinancialXpress) February 24, 2023
– Dr Prafulla Mishra, Statistical Advisor, DGFT, Ministry of Commerce & Industry, Government of India#smexports #financialexpress #feaspire https://t.co/lLoaMaIri7
Identification and working on technology are more important than upskilling and reskilling, felt Shekhar Bhandari, President, Global Transaction Banking, Kotak Mahindra Bank.
Africa, US, Southeast Asia markets are promising, stated Bhandari.
SMEs should focus on top emerging importing markets, top importing markets for exports, said Ajay Sahai, Director General & CEO, Federation of Indian Export Organizations (FIEO), adding that ecommerce can be a great indicator for markets where smes could exports depending on the number of shipments to that particular region.
All the benefits available to large players should also be available to the lowest common denominator, for example market access, said Bhupen Wakankar, Director, Global Trade, Amazon India.
For B2C, technology plays a big role in exports and from that point of viw B2C will scale dramatically.
The Ministry of Micro, Small & Medium Enterprises and the National Small Industries Corporation have introduced various schemes for MSMEs to enhance their capacity and explore the market abroad, said Sunil Tyagi, Sr. General Manager (International Cooperation), National Small Industries Corporation.
Vinod Sharma, Managing Director, Deki Electronics said that to identify the right market he'd have opted for carpet bombing, provided he had unlimited resources. “But this is an era of precision bombing with technolpogy and data.”
An insightful and informative session on Identifying the Right Market for Exporting begins. The panel includes Ajay Sahai, Director General & CEO, Federation of Indian Export Organizations (FIEO); Bhupen Wakankar, Director, Global Trade, Amazon India; Shekhar Bhandari, President, Global Transaction Banking, Kotak Mahindra Bank; Sunil Tyagi, Sr. General Manager (International Cooperation), The National Small Industries Corporation Ltd; Vinod Sharma, Managing Director, Deki Electronics. We are glad to have Gautam Khattar, Principal, Price Waterhouse & Co as the moderator.
Roshun Povaiah, Editor, Financial Express Digital presented Dr. Prafulla Chandra Mishra for his enlightening talk.
Dr. Prafulla Chandra Mishra, Statistical Advisor at the Directorate General of Foreign Trade (DGFT), Ministry of Commerce & Industry said that despite a lot of global headwinds, the Department of Commerce is confident that it will ross the overall export target for goods and services at around $760 billion, crossing the historic high of 676$ billion in 2022-23.
$440 billion for goods and $320 billion for services, he added.
Chief Guest Prafulla Chandra Mishra says that 784 items out of 12,177 have been identified by MSME Ministry in coordination with DGCI and DGFT, which are reserved for manufacturing in the the MSME sector.
While explaining the approach to exports target setting last year, Dr. Prafulla Chandra Mishra, Statistical Advisor at the Directorate General of Foreign Trade (DGFT), Ministry of Commerce & Industry stated that an export monitoring unit was set up under the Statistics Division of the Directorate General of Foreign Trade.
The commerce secretary guided the entire exercise, he added.
Dr. Prafulla Chandra Mishra, Statistical Advisor at the Directorate General of Foreign Trade (DGFT), Ministry of Commerce & Industry addresses participants on Export Target Setting and Monitoring for SMEs.
During his welcomes address, Roshun Povaiah, Editor, Financial Express Digital mentioned the Geneva-based multilateral
trade body, the World Trade Organization (WTO) projection that the global trade would grow by only one per cent in 2023, down sharply from its earlier forecast of 3.4 per cent.