D&B India, PLEXCONCIL ink MoU to support MSME exporters’ growth
Through this collaboration, Indian SMEs will enhance their visibility, broaden access to global markets, identify potential customers, discover new suppliers and channel partners, manage risks, and identify growth opportunities.
Dun & Bradstreet (D&B) Information Services India Pvt Ltd, a provider of B2B data, insights, and AI-driven platforms, has signed a Memorandum of Understanding (MoU) with The Plastics Export Promotion Council (PLEXCONCIL) to support the growth of small and medium enterprises (SMEs) exporters in India.
The collaboration aims to help SMEs in India enhance their visibility, broaden access to global markets, identify potential customers, discover new suppliers and channel partners, manage risks, and identify growth opportunities.
Commenting on the collaboration, Avinash Gupta, Managing Director and CEO – India, D&B, said,
"With more than 99% of businesses falling within the micro, small, and medium category in India, and a substantial 94% operating in an unorganised capacity, our collaboration with PLEXCONCIL is poised to be instrumental in propelling the growth of MSMEs, particularly those involved in plastic exports.”
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By leveraging D&B's solution, SME plastic exporters in the sector can strengthen their credibility and increase their global visibility, the company said.
In the next quarter, it plans to launch an ESG (Environmental, Social, and Governance) seal specifically designed for MSME customers, streamlining collaboration with larger corporations. This endeavour aims not only to assist MSMEs in aligning with ESG targets but also to encourage greater involvement of larger corporations in the MSME supply chain and promote a sustainable and mutually beneficial ecosystem, a spokesperson said.
Hemant Minocha, Chairman, PLEXCONCIL, said, "This collaborative venture with Dun & Bradstreet marks a significant milestone in our proactive initiatives. It is poised to empower SME members of PLEXCONCIL with diverse D&B services, providing them with essential tools to overcome challenges and propel business growth."
"Leveraging Dun & Bradstreet’s D-U-N-S® RegisteredTM Solution, MSME plastic exporters can not 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," he added.
The development comes as SMEs are expected to play a crucial role in India becoming a $5 trillion economy by FY25. The segment is expected to contribute 50% to the GDP by FY25 and must contribute 75% to the incremental GDP to achieve the target.
PLEXCONCIL, which is sponsored by the Ministry of Commerce and Industry, Department of Commerce, Government of India, is the apex body of the plastics industry in India and has over 2,500 exporters who manufacture/trade in plastics products ranging from plastics raw materials to semi-finished and finished items.
In 2021, D&B also signed a MoU with BSE to create an ecosystem for promoting, aiding, and fostering the growth of SMEs in the country
Edited by Kanishk Singh
