Vendanta’s ‘Saathi’ programme to help MSMEs turn the corners

Fostering the growth of micro small and medium enterprises for over two decades now through its expansive value-chain and social-developmental programmes, the leading mining firm announced the offering in terms of financial & technical support.

MSMEs take the mightiest toll of the pandemic due to limited access to credit, unfavorable business environments, and labour shortage and their contribution to employment is going far below potential, digital technologies and flexible credit disbursement policies can only haul them out of the rough times.

Apart from providing  fast finance disbursement at attractive rates, in partnership with a host of leading banks, NBFCs and FinTech firms, key proposition of Vedanta’s for MSMEs under the Saathi programme include e-commerce solutions, doorstep delivery of raw materials through micro-logistics partners, technical upskilling and single window for MSMEs to interact with Vedanta’s Quality, Product Application, Engineering.

Currently, more than 150 of the company’s MSME customers have availed channel financing to access a credit limit of ~INR 1000 Cr by leading banks and NBFCs.

During the announcement Anil Agarwal, Executive Chairman, Vedanta Resources Ltd, remarked “In India, MSMEs and start-ups contribute only 7% towards the GDP, whereas the global average stands at ~ 40%. There are immense opportunities for our MSME sector to scale up their businesses, with access to new-age technologies, opportunities to upskill, and quality raw materials.”

As the pandemic has disrupted the global supply chain, and industries are looking to diversify their sources of supply and services. This offers a huge opportunity for MSMEs to tap into the new markets that are opening up, and get integrated into these global supply chains.

There is a pressing need for greater focus on capability building for MSMEs. This includes helping them with right inputs on design, manufacturing, maintaining product quality and scaling their business. Endeavours by private companies, like Vedanta’s Saathi programme can prove to be propitious MSMEs in the direction of capacity building 

This will boost opportunities of employment to talented youth, benefiting our talented youth and alleviating poverty.

Cover image by D’source