Leading SMEs of India 2020

1 Dun & Bradstreet India is pleased to bring to you the 11 th edition of its publication ‘Leading SMEs of India’ jointly with the American Express Banking Corporation. e publication serves as a ready reckoner on Micro, Small and Medium Enterprises (MSMEs) in India. For more than a decade, Dun & Bradstreet has been working on various initiatives to provide visibility to small and mid-sized companies. One of these initiatives has been the Leading SMEs of India publication, which has highlighted the success stories of Indian SMEs. Some of these success stories include companies which have been recognized by Dun & Bradstreet in the past that grew from small to mid-sized companies and eventually to large corporates. In the 10 th edition of this initiative last year, we had recognized Newgen So ware Technologies Limited, Arcgate and Ecos (I) Mobility & Hospitality Private Limited as erstwhile SMEs that had grown by leaps and bounds over the past decade. is year, we have decided to dive deeper into the realm of small and medium sized businesses, by splitting the erstwhile single comprehensive publication into two sets of listings – ‘Leading SMEs of India 2020’ and ‘Leading Mid-Corpo- rates of India 2020’. Of these, the publication ‘Leading SMEs of India 2020’ provides listings and pro les of some of the leading SMEs across the country. For the purpose of this publication, SMEs are de ned as businesses which reported turnover of between Rs. 5 crore and Rs. 250 crore on a standalone basis during FY19. MSMEs in India have borne the biggest brunt of the impact of the pandemic. Many of them have been forced to cease operations temporarily or even permanently. e new normal that will emerge once the pandemic is over is likely to be characterized by four factors – sustained low-contact/zero-contact business interactions, PREFACE Avinash Gupta Managing Director - India, Dun & Bradstreet reduced income levels, higher degree of uncer- tainty and a major review of business resilience, especially with respect to supply chains. MSMEs will have to brace themselves for these radical changes to be able to navigate this new normal. In order to navigate through the new normal smoothly, MSMEs, especially those underserved by banks, should leverage digital platforms. ey will need to have a more serious and long-term attitude to digital transformation in the new normal. Globally, digitization has increased access to nance for MSMEs through specialized platforms such as mobile money, peer-to-peer lending, crowd funding etc. In addition to this, MSMEs should obtain globally recognized quali- ty certi cations, as these would help them venture into export-related businesses and improve their long-term nancial prospects. Last, but not the least, MSMEs need to upskill their workforce. is will help them leverage the full potential of digital transformation. Although banks and other nancial institutions have previously focused on high-value and low-risk large companies, there is an increasing global consensus that the MSME segment can be served pro tably. e Government of India needs to develop a favorable credit environment. is could possibly be achieved by focusing on two essential factors: strengthening credit bureaus and empowering regulatory agencies. Improving credit reporting mechanisms through credit bureaus or registries is bene cial, as the smooth ow of information between banks is linked to the enhanced availability of credit to rms, at lower cost. Similarly, stringent nancial laws and regulations foster a favorable credit environment. I hope you will enjoy reading ‘Leading SMEs of India 2020’, and I look forward to receiving your valuable feedback and suggestions. Dun & Bradstreet