There is a huge war cry when the media and people in India discuss about topics such as “50% cut in Chinese FDI poses bleak prospect for Indian economy” or “How India-China Clash Can Impact Alibaba, Xiaomi, Tata Motors, Others” and a million others.
Let me lay down that this is good news folks!!
This gives immense opportunity for India to be self-sufficient, innovative and determined, all for the entire nation including MSMEs and big organizations to collaborate further. But there are many points that need to be critically analysed at – Government, Public and Private Sector, Industrial and Consumer level.
Few key points as below,
- Government Investment: The Governments needs to invest more in telecom and technology as opposed to what it has been doing even before the pandemic struck the world including India. For India, it is understandable that the shift in investment was more to concentrate on social sectors such as Education and Health, but there has to be a concrete technological budget as well. Budget 2020 concentrated less on technology, telecom or even agriculture as compared to the social sectors. The survival has to be from a holistic POV, without which there will always be loopholes.
- Importance of Technology: We have all the budgets discussed at the industrial level, clearly defined objectives of expenditures and bottom lines, but unfortunately, and it’s true, that a clearly defined budget for the technology is never spanned out. It is only after a deep study into the industries that one identifies that there is so and so digital or technology budget to work for the organizations. Telecom and technology have not reached a standstill, but our mind-set most probably has.
- Future Pandemic (not Corona!): We are thriving on technology today, but it’s largely limited to bigger companies resulting in a situation where the smaller ones crawl in this time of economic recession. Government needs to believe that the policies are mere documents if there are not enough opportunities laid out.
- MSME perspective: Most of the companies are just modifying what China has offered, as manufactured goods or equipment etc. MSMEs need to believe on identifying unique opportunities and work towards it, instead of either collaborating with foreign companies or imitating their products and services for faster money.
- Financial Debacle: Whereas on one hand there is a growing laziness amongst Indian MSMEs, on the other hand, the government PSUs look for best financial offers rather than whole sole dependence on innovation and technology. Government need to provide those opportunities to everyone equally, so that there are more inventions and technology doesn’t get lost on the Indian soil.
- Geography that India is: India has a huge huge market for developing not just basic amenities, but larger products as well. The point, which foreign lands take advantage of. Whenever there is a loop hole, it gets filled by our rival countries, and we welcome this opportunity with open arms. Not at all pointing to curb the use of everything that is better than Indian goods and services, but atleast we can sanction some percentage to Indian manufacturers and MSMEs.
- Jugaadh: The term which is readily used in every industry, company and household, however big or small it is. Unless we get over this term, and understand that quality rules all consumer needs and wants, we won’t be able to make a difference. We have that acumen and knowledge. We are wanted all across the globe because of our workability also (ya ya but we are not just limited to cheap
labour!). - Projects such as Bharatnet: With BharatNet as one of the nationally important projects across our country, is a totally appropriate venture and is required as well, but is an incomplete deal. BharatNet was proposed in 2011 to establish by 2017, and aimed to provide high-speed broadband connectivity through optic fibre to all 2.5 lakh Gram Panchayats in the country. But have we thought of the basic necessities to Gram Panchayat residents… after the laying down of optical fibre, will they be able to use the facilities? Will they be able to afford phones and this service? Will we be able to give telemedicine to patients, tele-education to students and e-commerce to farmers and artisans?
To cover these loopholes, Government needs to get acquainted with those MSMEs (and not just the biggies) as well who want to make a difference to the holistic picture. - Few biases that might need correction:
- I. The business skew gets reduced if the Ministries/PSUs have a corporate body functioning with the bureaucrats who are running them. Obviously one has to collaborate with the bodies which are actually manufacturing and running the corporate/consumer products and services at the basic field level.
- II. The larger private companies which started as MSMEs only now want to get global acclaim and investments mostly (which is okay and obvious because everyone wants to earn – but look where it has got us!), instead of maybe trying to collaborate with promising smaller companies.
- III. There is also a need for more thoughtful VCs (Venture Capitalists) or Incubators to help fund smaller technological driven hardware and software companies. They need to be boosted well because yes, money is definitely one of the root causes of every success or failure.
- IV. Last but not the least, we buy products which have a foreign make, why do we do it? Because we don’t trust the Indian manufactures, we think they are less loyal, crooked, just minting money and taking advantage of a situation. But that’s not the case with each and every company right. We need to open the gates.
Keep following our company’s page for more thought-provoking insights.