10/02/2021 at 08:00 - 9:30 EST Location: Online Organiser: SME Finance Forum Event type: Conference
While India is the fifth largest economy in the world, the MSME sector alone employs over 100 million people or about 40% of India’s workforce. However, current credit products are designed to service only a section of the MSMEs (600,000 of them) leaving out a whopping 60+ million MSMEs. Micro enterprises constitute 99.4% of MSMEs but have a miniscule credit share of 6%-7%, compared with 70% enjoyed by large enterprises, leaving a credit gap of over USD330 billion.
In this webinar, we will look at how digital platforms and the digital infrastructure of the India Stack 2.0 are poised to bridge the gap between these MSMEs and financial services. Specifically, we will discuss how initiatives like Open Credit Enablement Network – OCEN, and Government of India led e-Marketplace – GeM – Sahay will revolutionizing access to MSME Credit and promote access to markets. This new way to do business re-imagines an ecosystem, wherein every service provider can become a tech-enabled credit and product marketplace. Working in tandem with another initiative – the Account Aggregator (AA) framework – it allows cash-flow-based lending and last mile credit delivery to businesses and individuals at the bottom of the pyramid.
What you will learn
Ispirit and U GRO Capital will give an overview of these initiatives. DFIs and an Indian bank will discuss:
How these platforms and infrastructure developed by the Indian Government will revolutionize access to credit, markets and network for 60 million MSMEs in India; and
The role that financial institutions and DFIs can play in this endeavor.
