OUTLOOK HONOURS MSMEs for their Stellar Role

MSMEs are India's real stars, but they are often unsung. Outlook Business makes it a point to honour the achievers among them every Year.

Micro, small and medium enterprises (MSMEs) are important players in the Indian economy, whether by share of gross domestic product or manufacturing or share of exports or role in employment. But they are relegated to the back of our minds because most cannot afford the brand game, even if they have remarkable stories of achievement Recognising this fact, the Outlook group bestowed a clutch of awards for the sector under different categories to felicitate them.

At a recently held event in Mumbai this year, Suchetana Ray, Editor of Outlook Business, said MSMEs are expected to play an even more crucial role in powering India into its Amrit Kaal. Ray said the'Make in India Call: which aims to manufacture things now imported, should be expanded to "Make for the Globe.

That is where the global competitiveness of MSMEs will be called into question as India turns 100 in the next few years,' Ray said at the Outlook Business Spotlight--Business Excellence Awards 2023 function. The event provided a platform for distinguished speakers such as Vibhav Agarwal, CEO, power, Vedanta Ltd, and MakarandNarwekar to share their perspectives.

The chief guest was Makarand Narwekar, an advocate and former corporator now chairman of the Municipal Corporation of Greater Mumbai's committee on Law, Revenue & General Purpose. Aastha Gill, a leading actress, and Harshita Shekhar Gaur (of Jehanabad: Of Love & War fame) were the guests of honour.

Vedanta's Agarwal said creating a business for future generations is important. °One cannot continue to live in a world where we are emitting carbon or not following what has been committed by our honourable prime minister, that by 2070 we have to achieve decarbonisation, Agarwal said. Narwekar noted that corporates are today looking differently at spending on CSR or corporate social responsibility. "Corporates look at partnering with the government to execute [projects] on which the government would have spent money anyway: Narwekar said.

The awards focus on MSMEs who have shown how to overcome obstacles and excel in their fields. Held every year in June, the 2023 awards ceremony centred around a panel discussion on Make in India: Strategies to Build Global Competitiveness among Indian MSMEs.

The panel discussion featured Aakanksha Bhargava, CEO of PM Relocation Pvt Ltd, Nishant Seth, Director of Rainbow Aviation Pvt Ltd, Amit Jain,CEO of AAIS Global, and Gunish Jain, CEO of BlueKaktus. Anshu Mor, a leading stand-up comedian who quit a Microsoft job at 44 to pursue his passion, moderated the discussion.

The Outlook Business Spotlight - Business Excellence Awards honour industrialists with remarkable insight, leadership qualities, and strategic thinking to deliver sustainable growth and protabillty.The awards recognise leaders who have set exalted standards of excellence in their industries and have made an indelible mark. The awards ceremony provided a formidable platform to celebrate the success of these remarkable leaders and organisations, thereby catalysing an exponential impact on the business landscape.

The list of 58-odd awardees included a chartered accountants firm (Bansi S. Mehta &Co), a freight forwarder (Globe Line Shipping), hotels and hospitality and education technology, showing the diversity of the entrepreneurs. Around 20 won the Company of the Year title, while three got Brand of the Year awards.