Open letter to Development Commissioner MSME
I would like to thank Sri Ram Mohan Mishraji(IAS) and Sri Chandrashekhar Director MSME Hyderabad for meeting us and sparing their valuable time yesterday in Hyderabad.
Sir, when we are looking for finding out a solution for sick MSME, a lot of research has been done during the last 49 years and various solutions/steps are taken but the desired results are not been achieved.
Now, in a market-driven economy and innovation led government policy, Can we do experiments in fintech space?
The model proposed by m/s growth idea lab can experiment and what we need any reputed institution to validate (as a research project) So that proof of concept can be validated.
Please note that we are not looking for any financial support in the first phase. We are looking towards expertise developed for MSME over decades.
Our Second project is related to doing the balance sheet and profit and loss analysis and arriving at 52 ratios, comparing with SME listed companies. This is the first phase and it is free.
During the discussion, it has come that reliable data on MSME is not easily available.
Our expectation is that during the first two or 3 years, we may reach 100000/- SME and by use of Artificial intelligence, Machine learning and Big data, it will be possible to do better predictive analysis and policy intervention, which can lead India to grow GDP above 10% which is required to achieve poverty reduction in next 20 years.
Let us collaborate to active above goal. Rome was not built in a day.