The Dollar Business Celebrates the Success of Rising Stars of Indian Foreign Trade for Them the Sky Is No Limit, It’s Just a Direction!
A lot has been spoken about the important role that MSMEs play in India's economy and foreign trade. And without doubt, if India has to reach anywhere near the ambitious target of $900 billion in exports by FY2020, the country will have to bank on its MSMEs. While the government has implemented a variety of schemes to facilitate exports from this segment, the impact on the ground leaves a lot to be desired. Yet, a number of MSMEs across sectors have risen above everyday challenges and ensured a growing export base for themselves, year after year. And this during a time when exports across many traditional sectors have surrendered to troublesome storms of change. The Dollar Business analysed 16 such young companies to discover what motivates them to keep growing against all odds.
A few issues back when we did a cover story on exports from India's MSME (Micro, Small and Medium Enterprises) sector, what intrigued us was that despite the many challenges that the sector faces, most owners and promoters that we spoke to were upbeat about the future. We got the same response from the MSME exim community when we did our annual Export Temples of India issue a few months down the line.
At a time when large companies were briefing analysts to expect lower than forecasted results and the International Monetary Fund (IMF) was cutting global growth forecasts, these young companies had the courage to think big and outside the box to achieve set goals. Surely, this was a story that needed to be told. We decided to reach out to these brave young companies to find out what motivated them to continue growing in the face of the multiple challenges. And what was it that in the first place motivated them to take the entrepreneurial route?
That is where this story begins...
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