Power2SME forays into Chhattisgarh to boost the state’s MSME sector

The first buying club for SMEs in India, Power2SME has announced its foray into the state of Chhattisgarh. The company will work towards providing finance and easing raw material procurement for MSMEs in the region.

Power2SME was founded in 2012 and enables SMEs to purchase raw materials such as metal, polymer, chemicals, paints, solar and yarn at bulk prices through demand aggregation methodology. In addition to this, it also caters to maintenance and repair needs of MSMEs, and aids enterprises in getting timely access to working capital, through its platform, FinanSME. Thus, Power2SME plays an important role in providing a one-stop platform to SMEs for their critical requirements.

Mr R Narayan, Founder & CEO, Power2SME said, "With over 8.4 lakh MSMEs, Chhattisgarh is fast emerging as an important centre for manufacturing enterprises in the country. Our expansion into the state is thus a gradual expansion of geographies we believe we can best deliver our solutions. Through our widespread network, we will help MSMEs enhance operational efficiency and save costs by making raw materials available at bulk prices and in addition to this, we will also be able to assist them in getting working capital through our FinanSME platform seamlessly. We are committed to augment the sector’s productivity and revenues by offering them an ideal environment to operate in.”

Power2SME, since its inception, has been committed to enhancing productivity and revenues of the MSME sector, which is critical for overall growth of the Indian economy. In the past few months, the company has expanded its operations foraying into states like Uttar Pradesh, Karnataka, Telangana, Chhattisgarh, Orissa, Andhra Pradesh, Madhya Pradesh, to name a few.  

ALSO READ: Standard Chartered to launch digital SME platform in 2019

ALSO READ: GST exemption for MSMEs: New thresholds to come into effect from April 1