Power2sme, the buying club for SMEs, and Indian Industries Association (IIA) have signed a Memorandum of Understanding (MoU), for fostering co-operation and support for the promotion of SMEs in the state of Uttar Pradesh. This association will be instrumental in helping SMEs overcome challenges and creating an environment favourable to accelerated growth for the SMEs.
Power2sme, India’s leading buying club for SMEs, started its operations in April, 2012. The company’s mission is to increase profits for the Indian SMEs by being a one stop destination for managing purchase requirements for multiple business needs. Indian Industries Association (IIA) is an apex representative body of Micro, Small and Medium Enterprises (MSME) with a strong membership base of about 5500 MSMEs. IIAs motto is to create an enabling environment for the development of MSMEs in today’s ever changing and extremely competitive industrial scenario.
The agreement was signed in the bac kdrop of Noida Expo 2013 (3rd Global MSME Expo) by Shri Manish Goel, General Secretary of IIA and by Mr. R. Narayan, Founder & CEO, Power2sme. As a part of the MoU, IIA and Power2sme have mutually agreed for collective purchase of raw materials for the members of IIA. This project will run for a period of six months and will be covering 34 chapters of IIA in Uttar Pradesh, starting from the Western region (focusing on Noida / Greater Noida / Ghaziabad). Power2sme will be registering all members of IIA in this region on their online platform in the next six months.
Speaking on the occasion, Shri Manish Goel, General Secretary of IIA said, “Uttar Pradesh is home to an extensive network of industrialized districts. It has seen an impressive upsurge in economic growth in the recent past and is moving in the right direction to promote SMEs. We believe that this partnership will be able to reach out to the majority of SME companies across the state. We hope that partnering with Power2mse will help us to create further opportunities for the SMEs and also carve out a path for their future growth.”
Mr. R. Narayan, Founder & CEO, Power2sme said, “We are extremely excited about this association and the opportunities that will emerge from this partnership with IIA, the apex body and a leading facilitator in the SME space. We believe that this association will serve as a backbone for the SMEs in Uttar Pradesh and will be instrumental in their growth. This initiative is another testament to the ongoing efforts of Power2sme to provide services enabling SMEs in India to become more competitive and profitable in their business.”