The Small and Medium Entrepreneurs (SME) Forum has chosen Bhopal as the next SME cluster zone to help SMEs grow their business and help these industries accelerate their growth and thus gain a competitive edge globally.
The SME forum includes Federation of Madhya Pradesh Chamber of Commerce and Industry (FMPCCI), Association of all Industries, Mandideep Govindpura industries Association (GIA), Mandideep Industries Association (MIA) along with Reliance Commercial Finance, a division of Reliance Capital, Bharti Airtel, Bank of India, BSE and SME Exchange India.
While talking to mediapersons, here on Friday, Associaiton of All Industries, Mandideep Manoj Modi said that after Gujarat, Madhya Pradesh is now the second preferred state for corporate world to get their Industries set up in emerging cities like Bhopal. Electrical goods, cotton, chemicals and flour milling are the main source of economy in Bhopal, Zardosi and embroidery of Bhopal’s old city are also famous. Now being a metropolitan city, many Software/IT sectors companies are setting up offices in the city.
Bhopal, despite its enormous size, is yet to realize its true potential. One of the reasons is the low technology penetration in the small industrial hubs as the economy is going through testing times, it is becoming increasingly difficult to sustain the high growth rates without embracing cutting edge technology that can optimize efficiency and productivity. The consolidation of competitive clusters of SMEs can accentuate their specific competencies
laying emphasis on the Micro Vision, Modi told that going forward the formidable challenges for the small and medium sector needs an integrated cluster enabling SMEs to gain a competitive edge.