GAME to host MSME Finance Week to discuss the growth of India’s MSME financing ecosystem
At one time, Micro, Small and Medium Enterprises (MSMEs) were considered to be the growth drivers of the Indian economy. But the COVID-19 pandemic has battered all sectors, with MSMEs among the worst hit. The past few months have seen mass layoffs and closures, the collapse of global supply chains, and a struggling economy, with nearly 50 percent of MSMEs witnessing a 20-50 percent impact on their earnings. Although Finance Minister Nirmala Sitharaman announced relief measures for the MSME sector, more ecosystem players need to come together to ensure greater access to finance and credit for MSMEs, to ensure their survival and revival. In the current situation, what can help MSMEs emerge out of the crisis and drive the next wave of India's growth?
To discuss this and more, the Global Alliance for Mass Entrepreneurship (GAME) is hosting the MSME Finance Week on December 12, 14, 15 and 16, 2020, themed 'Financing the Unfinanced'. The event will bring together government leaders, industry leaders, investors, fintech startups from all over India to deliberate, ideate and collaborate on key financing solutions for MSMEs.
Conversations on reviving the MSME sector
On Day 1 (December 12), hear from government officials, GAME leaders, industry experts and entrepreneurs themselves, who will delve on the challenges in MSME financing. Following the keynote address, there will be an insightful panel on how the fintech sector can help MSMEs sail through the COVID storm. The opening day will also include a Prompt Payment Pledge by leading corporate honchos allying for other corporates to join in as a way of easing the financial situation for MSMEs.
Day 2 (December 14) will focus on innovations in MSME financing through a fireside chat, an innovation showcase by 5-6 FinTechs and NBFC Innovators and a closed-door micro-insurance product design workshop.
Day 3 (December 15) will see an interesting working session on the Open Credit Enablement Network (OCEN) and a closed-door session led by the TReDS leadership on potential interventions to increase uptake of the platforms.
The final day (December 16) will highlight the voice of entrepreneurs and the key takeaways from the MSME Finance Week.