The Dare to Dream Awards 2022 culminated in a star-studded event at the Taj Lands End, Mumbai on November 16^th. With key policymakers, thought leaders from the industry and media, experts, and other inspiring voices gracing the occasion, it was as much a forum for insights-sharing as celebrating the winners.

The inaugural session featured Rahul Singh (VP and Head of Marketing, 麻豆原创 India Subcontinent) and Nitika Das (Sr. Director, Brand, Midmarket and Business Marketing, 麻豆原创 India) who spoke about the evolution of the awards and the theme for this year is focused on new India鈥檚 pioneers. They were joined on the dais by Rajeev Singh (Vice President, Midmarket and Emerging Business, 麻豆原创 Indian Subcontinent) and Raktim Das (Chief Growth Officer, TV9 Network).

The guest of honour, Shri. Bhanu Pratap Singh Verma (Minister of State in the Ministry of MSMEs, Govt. of India) delivered the opening address, setting the stage for the event. He spoke about the impact that MSMEs have had in every field, from helping the country overcome the pandemic to creating India鈥檚 bright economic prospects. He expressed his confidence in the MSME sector fulfilling the Atmanirbhar Bharat vision and Govt. initiatives like Make in India. He also recognized the importance of these awards in inspiring business leaders to create a digital-first culture, adopt innovative ideas, and fulfill the dreams of a new India. To quote his words, “Everyone in India is aware of the contribution of the MSME sector (Micro, Small and Medium Enterprises) to the growth of the country. The making of INS Vikrant is a great example of how vital the contributions of the MSME sector are.”

With four engaging panel discussions covering crucial topics of digital transformation, raising capital, dynamic enterprise, and compassionate capitalism, there were many key takeaways for the attendees. Rajeev Singh spoke at length about how SMEs can play a significant role in fuelling the country鈥檚 growth aspirations in the exclusive panel discussion on 鈥楧igital Transformation Powering India’s March to 2047鈥�. Talking about translating the promoters鈥� vision into reality by exploring 3 broad themes, he said, 鈥� The moment MSMEs start to see digital transformation as an investment eating into their profits, that’s when they’re going wrong. The only way you can operate in the same space (as the larger players) or go global, in the shortest possible time is with digital transformation. The larger organisations had the financial muscle power to build distribution systems, go abroad and hire the best talent. Today, with digital transformation, MSMEs can be on the same pedestal and compete with the largest companies.”

Sandeep Chandna (Chief Sustainability Officer, Tech Mahindra) spoke about bringing profit and the planet together, and how 麻豆原创 and Tech Mahindra are collaborating to build technologies that can enable sustainable development. He said, “In these last 15 years, we have documented, and we have learned in our own way the best ESG practices. We have now started going back to our customers, saying that this is our learning, and these are the things we can help you implement in your ESG journey.”听

Subramanian Ananthapadmanabhan (SVP – Midmarket, 麻豆原创 APJ) shared his perspective on the digital-first mindset driving growth among SMEs. He gave an interesting timeline of how 麻豆原创 has been engaging with SMEs for value creation through 5 key programs over the past 5 years 鈥� Growth Matters Forum, Global Bharat Movement, Mentors of Global Bharat, Transformation Express, and finally the Dare to Dream Awards. Tying these initiatives together, he told the audience, 鈥淪ince the time Covid has happened, the market has been changing so rapidly, that we鈥檝e had to increase our efforts to come up with new campaigns, to be more relevant and ensure that we are there when it matters to you.鈥�听

An insightful conversation with Uday Samant (Minister of Industries, Govt. of Maharashtra) shed light on the latest Govt. initiatives to enable business such as the hydrogen and electric vehicle policy for instance, and how Maharashtra is becoming a role model for other states when it comes to industrial growth. In the Minister鈥檚 words, 鈥淲e have one focus, that we get more industries to invest in Maharashtra, be it IT sector industries or automobile industries. We understand that industries want states to give them a red-carpet welcome. We’re now giving surety to industries and companies to give them more benefits than other states, be it concessions in water, land, electricity, or other incentives.”

The ceremony also featured a special session by Devendra Jhajharia, Paralympics Champion, Padma Bhushan, Padma Shri, and Arjuna Award for Athletics, who motivated the dignitaries with his truly inspiring journey. From how he was mocked while first trying to throw the javelin to following his dream with conviction and courage, reaching the greatest heights as an athlete 鈥� the first Indian para-athlete to win two gold medals at Paralympics. In his words, 鈥淚 always make an effort to win more and more medals for my county to bring it more honour and respect worldwide. That is all I ever try to do.”

As India continues to rise and establish its leadership on the global stage, the business community has been a key driver of this growth and transformation. The Dare to Dream Awards 2022 celebrates business champions and trailblazing organizations that are driving innovation and setting new benchmarks for the industry.

Coming to the awards, across three main categories 鈥� Organizational Awards, Dare to Dream Special Recognition and Individual Awards, 57 recognitions were decided by the eminent jury panel. Having received nominations from across India, these pioneering companies and leaders were announced as winners at the Grand Awards Ceremony.

The prestigious Company of the Year Awards recognize organizations from diverse industries that have demonstrated all-round success, be it in business performance, green initiatives, social impact, Make in India initiative, and others.

In the individual category, awards were conferred on the 鈥榊oung Leader of the Year鈥�, 鈥榃oman Entrepreneur of the Year鈥�, and 鈥楤usiness Leader of the Year鈥�. These exceptional individuals at the helm have been responsible for steering their organizations to greater heights.

This year also saw the addition of the Dare to Dream Special Recognition where a set of companies were recognized for their outstanding achievements, embodying the spirit and theme of these awards.

To view the full category-wise list of winners of the Dare to Dream Awards 2022, please .

Read more on News9Live

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German IT major 麻豆原创 and Indian dairy pioneer Amul, along with a local non-government organization Pratham Infotech, has joined hands for an inclusive and sustainable community outreach development program amongst 1.5 million people in Anand, Gujarat, 麻豆原创 announced in a press release on Tuesday.

麻豆原创 and Corporate Social Responsibility (CSR)

As part of its corporate social responsibility (CSR) activity, 麻豆原创 is focusing on social entrepreneurship, enablement of a skilled workforce, digital inclusion, and bridging the gender equality gap for the community, through the initiative under 麻豆原创鈥檚 flagship 鈥楥ode Unnati.鈥�

Kulmeet Bawa, President, and Managing Director, 麻豆原创 Indian Subcontinent said, 鈥淭echnology can act as a catalyst in shaping India鈥檚 journey to an inclusive and sustainable economy. While urban development projects such as smart cities and futuristic mobility are reflective of this potential, the true progress of India lies in the development of her villages.鈥�

鈥淥ur work with Amul is an expansion of this vision and will provide citizens with the information and tools they need to succeed. As India continues to lead global action on sustainability, collaboration like ours will also provide the critical foundation for an inclusive and resilient future in which no one is left behind,鈥� he added.

Notably, for over a decade, Amul is using 麻豆原创鈥檚 digital core ERP and supply chain solutions to digitally transform its operations.

Empowering Rural India – Amul and 麻豆原创

RS Sodhi, Managing Director of Gujarat Cooperative Milk Marketing Federation, Ltd, (Amul) said, 鈥淥ver 66 per cent of India’s population lives in rural areas. Most of the rural population who lives in India depends on agriculture, animal husbandry, and dairying for their livelihood. With an objective of inclusive and sustainable community development, Amul and 麻豆原创 has joined the project. Under the project, quality digital literacy and skill interventions training imparted to school-going children and teachers.鈥�

鈥淥ur collaboration with 麻豆原创 is a step forward in bringing these rural communities into the mainstream by empowering them to hone essential future skills and turn their dreams into a reality. Our hope is that it will go a long way in nation-building and creating an Atmanirbhar India,鈥� he added.

Under the initiative, at least a lakh school-going students and over 20,000 adults including at least a fourth of the women will be given digital training across 70 villages in Anand and across six districts of Gujarat. The project will enable women to start their own small businesses.

This press coverage was originally published on

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A key driver to this anticipated growth is the Atmanirbhar Bharat Abhiyan which aims at creating a self-sufficient India.听听The program is built on five major pillars:听

1. ‘Economy,’ which drives quantum change rather than incremental change听
2. ‘Infrastructure’听and
3. ‘System’听which is based on 21st-century technology-driven arrangements;
4. ‘Democracy,’ which is the source of energy for a self-sufficient India; and听
5. ‘Demand,’ in which the strength of our supply chain is fully utilized.听

MSMEs in India play an important role in reducing regional imbalances. They ensure a more equitable distribution of national income and wealth by offering substantial job opportunities at a lower capital cost than major businesses. MSMEs are known to contribute to the industrialization of rural and backward areas.听

The Missing Middle and Challenges in Scaling Up

Unlike other economies though, the Indian MSME segment finds it harder to scale up. What economists call 鈥榯he missing middle鈥� has become a perpetual puzzle difficult to solve. Whether in the manufacturing sector or other verticals, the 鈥榤issing middle鈥� is ever-present. A natural progression is for enterprises to be micro-sized, grow to small entities and scale up to become mid-sized and later large companies. In India, a peculiar situation arises. Companies start small, stay small and fail to scale up. This is the 鈥�鈥�.听 听 听 听听

Anemic growth and lack of employment opportunities are just some of the challenges this segment confronts as it fails to scale.听Lack of access to finance and technical know-how, inadequate skills (both operational and technical), poor infrastructure facilities, high production costs and socio-economic constraints are just some of the challenges that MSMEs face in taking their businesses to the next level.

To compete globally, MSMEs need a听听in digitally skilled workers by 2025. Such competencies include data analysis, cross-network collaboration, on-demand learning, and real-time response to operational change.听

While the answer partly lies in providing MSMEs with easy, equitable access to credit to boost their manufacturing facilities, the right policies, a supportive ecosystem and pivoting on technology will be key to helping this sector grow.

Enabling Policies for the MSMEs Sector

The Atmanirbhar Bharat Abhiyaan was a response of the Indian government to counter the pandemic鈥檚 negative impact on the MSME sector. The MSME sector has been given a significant allocation and priority in implementing the measures that will revitalize the economy. Various announcements have been made under the package to aid the MSME sector immediately.听

The Government of India,听for example, has lately embraced a clustering and networking approach to assist MSMEs in improving their competitiveness during difficult times. The government is also working to address the needs of the various industries by offering various level courses through its training institutes distributed across the country.

The reason for the government to stress on the importance of MSMEs can be understood by the contribution the MSMEs can provide to achieve the dream of Atmanirbhar Bharat. Here are the听five main ways听in which MSMEs are playing a crucial role in Atmanirbhar Bharat:

• MSMEs share in GDP-听As per the report by听, the number of MSMEs in India has increased as a CAGR of 18.5% from 2019 to 2020. MSMEs鈥� contribution to Indian GDP is expected to increase in the future with the startup boom and formalization of the economy. The facilities like Government e-commerce Marketplace (GeM) are helping the small and mid-sized companies to grow further. As of June 25, 2021, the GeM portal has fulfilled 6.87 million orders worth $15.67 billion. One of the biggest hindrances for MSMEs has been their slow adoption of technology. But, with the government impetus, the technological adoption might increase, and the MSMEs might become more competitive.
• MSMEs鈥� share of exports-听Exports are essential for any economy. The Indian economy has had a constant balance of trade deficit for many years. This balance of trade has been funded by remittances and foreign investments over the years. If India really wants to become self-reliant, the exports need to increase.听The share of MSMEs in exports is 45%. The companies involved in exports are more profitable than the companies involved in serving the domestic market in India. Thus, exports are an essential part of the government鈥檚 mission of an Atmanirbhar Bharat.听The government has introduced the Merchandise Exports from India Scheme (MEIS). It is an incentive program to help the Indian companies become more competitive and to increase the export of goods manufactured or produced in India, in the Foreign Trade Policy (FTP) for 2015-2020. MSMEs participating in exports are rewarded in duty credit scrips. Policy measures like these are expected to further increase the share of MSMEs in exports in the coming years.
• MSMEs鈥� growth is more inclusive-听MSMEs in India employ around 11 crore people. The types of jobs created by MSMEs include unskilled workers as well. The MSMEs are known to create many jobs at a low capital cost. Thus, even a low capital can get inclusive growth. Inclusive growth is an important parameter of Atmanirbhar Bharat. As per the government data, 13% of registered MSMEs are providing 42% of the total jobs. Thus, there is a need to provide the required funds to MSMEs to help them grow as the growth will quickly trickle down into various jobs.听

The United Nations commemorates 27^th听June as World MSME day. The United Nations understands the inclusive growth promoted by MSMEs and is taking various steps to help the MSMEs get back to business after the pandemic. They have recognized that the services sector is more impacted because of the pandemic, and they are putting their efforts into the services sector. The services sector is known to provide employment to temporary workers and to promote inclusivity. MSMEs are being helped by the Indian government and United Nations as well.听

If India is to become a $5 Trillion economy by 2025, the听听is expected to reach 50%. Thus, MSMEs will contribute to growth in the future. Also, informal employment in India is very high. With the formalization of the Indian economy and high growth in the MSME sector, inclusive growth can become a reality, with jobs being created even in the remote areas of India. If jobs are provided to remote areas, India can truly achieve the dream of an Atmanirbhar Bharat.听

• MSMEs in the manufacturing sector-听A key aspiration of being Self-Reliant is to make India a manufacturing powerhouse. This is envisioned by the Make in India policy of the government. As per听, the share of MSMEs in manufacturing is around 37%.The contribution of MSMEs is expected to be huge if India is to increase its manufacturing output. Manufacturing requires a fast time to the market and changing the requirements as per emerging trends. Also, it requires a marketplace to sell the goods. With the growth of e-commerce and the Government e-commerce Marketplace (GeM), the selling opportunities are immense. Also, the emerging trends are easy to identify because of the easy availability of information.听Indian manufacturing is showing signs of cyclical growth, and the contribution of MSMEs is immense. India has increased its ranking in Ease of Doing Business and is currently ranked 63^rd. Schemes such as PLI schemes are expected to increase the manufacturing output of the country.
• MSMEs in the Services sector-听India鈥檚 share of the services sector in the economy is 55%. Just as the manufacturing sector is essential, the services segment plays an important role as well in India鈥檚 economic growth. Most of the informal jobs exist in the services sector, and the services sector was the most affected because of the pandemic. As far as SMEs are concerned, around 33% of Indian SMEs are into services as compared to 67% in manufacturing.Most of the startups are also in the services sector. MSMEs have an important role to play in the services sector to provide employment to the gig workers, temporary workers, unskilled workers etc. If India is to be self-reliant, the importance of the services sector must be highlighted and the sector should be prioritized.听

Technology can unlock the next phase of growth

Indian SMEs face significant obstacles in the globalization and liberalization period despite all significant efforts made by the government. The country can become Atmanirbhar if MSMEs can scale up to compete with global peers and participate in international market opportunities. It鈥檚 possible to make this a reality if MSMEs are more vigorous in adopting technology to get a competitive advantage.听

Indian MSMEs are starting to integrate new and innovative information and communication technologies on a big scale, such as Software as a Service (SaaS) and Infrastructure as a Service (IaaS). MSMEs in India may hire external consultants or take other actions regularly.听

Technology transfer, such as vertical technology transfer or horizontal technology transfer, is another option to be considered by the Indian MSMEs.听

Despite the obvious benefits that technology can provide micro, small, and medium-sized enterprises, this segment has not been as aggressive in undertaking digital transformation. Digital proficiency is the need of the hour if this sector is to survive disruptions and build business resiliency. Digitally connected MSMEs can get better access to the market and take advantage of a borderless marketplace.听

For MSMEs to compete globally, programs such as 麻豆原创鈥檚听听initiative can be of great help. Besides enabling digital skilling for the workforce, this program also provides access to B2B marketplace. Growing businesses need to have an enterprise resource planning (ERP) system in place since it helps bring in efficiency and enhance productivity. From automating routine business processes to reducing human intervention to integrating key business processes, ERP is extremely beneficial to MSMEs.听

Some of the benefits of having an ERP system include the ability to minimize errors due to automation, see real-time inventory and gain insight from well-structured data.听听A cloud-based ERP provides flexibility and real-time analytics. Having real-time analytics can help faster decision-making based on up-to-date, real-time information. As an MSME, having access to real-time information will help the decision-making process while optimizing resources and costs.听

MSMEs are beginning to realize the advantages provided by ERP systems. India is adopting ERP solutions at a faster clip than the rest of the Asia Pacific region. According to a听听study, SMEs can contribute up to 30% of the cloud market. The study showed that 60% of the SMEs are already using cloud, although half are at the early stage of adoption. Of course, adopting cloud has helped SMBs reduce operational costs while increasing productivity.

Change is inevitable, but if MSMEs are geared to deal with change, then it becomes easier to cope with challenges that arise. RISE with 麻豆原创 brings together offerings that can help transform business strategically. From being able to stay agile to bringing in efficiency that lets MSMEs stay in control of their business, this initiative is specially designed for MSMEs.听

Staying connected to business owners going through the same challenges offers unparalleled opportunities to learn from industry peers. Stay in touch with over 15000 business owners to learn how they rise above challenges and stay innovative. From engaging with the MSME community to learning about the latest technologies, the听,听a vibrant online community, provides insights and helps keep track of the upcoming trends and growth opportunities in the MSME business.听

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Unlike digitally native start-ups, MSMEs have different practices and processes and generally show a lack of technology adoption. MSMEs aren鈥檛 as agile in their responses to disruption compared to their digital peers and lack the right ecosystem to address the challenges they face. But with , the central theme of India鈥檚 economic recovery, this mindset may just change.

Setting the Stage for High-growth Potential

MSMEs are beginning to realize the criticality of digital transformation when surviving and adapting to changing market conditions. According to听,* midsize companies are strengthening their competitive position with rapid digitalization and business formalization. More than a quarter are moving forward with plans to deploy business applications with artificial intelligence to surface insights, accelerate decision-making, and operate with greater resiliency and agility.

For MSMEs, technology adoption enables greater agility and faster decision-making. While developing the right ecosystem of IT providers and service partners, they can bridge the information gap to improve the transparency of their supply chains and financial performance and seize opportunities once reserved for startups. Meanwhile, larger corporations can onboard Indian MSMEs more confidently by fully understanding their value, operational performance, and compliance standards.

The good news is that this momentum toward revenue growth and global expansion is within reach for every MSME. However, there is one caveat: their operations must keep up and adapt to a marketplace that evolves every day.

Growth begins with Fast-paced Operational Change

The principal challenge of Indian MSMEs is boosting the production of smaller batches for a marketplace that values individualization and contributing to a more extensive supply network that expects consistent regulatory compliance and credible sustainability. With the steady stream of new product configurations, government mandates, and green initiatives, the traditional concept of reskilling and upskilling the workforce is not enough to pivot operations fast enough to address every nuanced update.

Instead, MSMEs need to harness the power of their data to make in-the-moment shifts in their entire operation, such as scaling up or down inventory, redirecting critical supplies, and addressing customer expectations. But more importantly, they need an interconnected system built to manage all these business elements together with data and intelligent technologies 鈥� such as artificial intelligence 鈥� to drive the best outcomes.

Take, for example,听. The business recently pivoted its business model from just selling mattresses to becoming an end-to-end home furnishing brand and retailer, sparking a rapid expansion of its inventory and manufacturing capabilities. As a result, the midsize business experienced over 200% revenue growth during the pandemic. However, its supply network was challenged to scale fast enough because its 20 manufacturers and warehouses used their own set of business systems.

Although the pandemic hit Indian businesses hard, Wakefit continued its growth trajectory by improving its productivity with increased scalability and visibility. The company brought its growing network of assets, plants, warehouses, and innovations under a听. It also eliminated long-term reliance on multiple stand-alone systems that not only impacted employee productivity but led to compromised accuracy in critical areas such as financial reporting.

With the support of a local partner throughout this digital initiative, Wakefit is now on a connected cycle of extracting insights. As a result, all departments, manufacturing locations, and warehouses can access the same set of advanced technologies and real-time analytics to acquire information on any device, foster high scalability, adjust to changing demand, and reduce development costs. Best of all, the company achieved concrete outcomes and improvements within only four months of the initial deployment.

Preparing for a future of game-changing growth

The current economic recovery is unquestionably affected by price pressures, labour shortages, supply chain disruptions, and inflationary risks. But Indian MSMEs can still keep up 鈥� as long as they have the right mindset and technology backing them.

The key is to think like a startup, pivoting operations in real-time to take on opportunities and mitigate risks as they emerge. With a digital transformation journey that follows their timeline and pace, companies can navigate around today鈥檚 and tomorrow鈥檚 challenges and fulfil their customers鈥� changing needs 鈥� signaling the performance of a prosperous, productive, and growing business.

Find out how your business can pivot with the resilience and agility of a startup. Check out and share the IDC paper, 鈥�,鈥� sponsored by 麻豆原创, for additional insights on the road ahead.

*, an IDC Info Snapshot, sponsored by 麻豆原创听

May 2021听|听Doc. #US47674721

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