Mumbai: Dun & Bradstreet Information Services India Pvt. Ltd., the leading global provider of B2B data, insights and AI-driven platforms, signed a Memorandum of Understanding (MoU) with The Plastics Export Promotion Council (PLEXCONCIL) to create an ecosystem for promoting, aiding and fostering the growth of Small and Medium Enterprises (SMEs) exporters in the country. This partnership will help SMEs in India to increase their visibility, expand access to global markets, find potential customers, uncover new suppliers and channel partners, manage risk and identify growth opportunities.
The Indian government has set a target for the country to become a US$5 trillion economy by FY 2025 and SMEs will play a critical role in this growth journey. This segment is expected to contribute by 50% of GDP by FY 2025 from current 30%. To achieve that target, SMEs must contribute 75% to the incremental GDP between today and FY 2025. This represents a significant contribution of SMEs to India’s growth and they will require increased support from the government, policy makers and business service providers.
Speaking about the partnership, Mr. Avinash Gupta, Managing Director & CEO – India, Dun & Bradstreet said, “Dun & Bradstreet has been working with the Indian MSMEs since the past two decades, providing them with the necessary business intelligence to help them grow and thrive. In India, more than 99% of businesses belong to Micro, Small and Medium category and 94% of them are unorganized. By working with PLEXCONCIL, we expect to play a pivotal role in growth of MSMEs engaged in plastic exports. By availing the Dun & Bradstreet’s D-U-N-S® RegisteredTM Solution, MSME plastic exporters would be able to build their credibility and increase visibility in the global market. Dun & Bradstreet will be launching an ESG seal for MSME customers in Q1 2022 to help them work with larger corporates seamlessly. This will also help larger corporates to work closely with the MSME supply chain to meet their ESG targets.”
Mr. Arvind Goenka, Chairman, PLEXCONCIL, said, “The growth in plastics’ exports in the first half of FY2022 reflects the tremendous efforts and the entrepreneurial spirit of Indian MSME exporters, who posted growth despite facing many challenges during the pandemic. PLEXCONCIL has been taking several proactive initiatives to build bridges between Indian MSMEs and international suppliers and sourcing majors in an evolving global supply-chain management scenario.”
“The partnership will help the SME and MSME members of PLEXCONCIL in getting the various D&B services to empower them with tools which can help them to overcome their challenges and grow their business. Dun & Bradstreet’s D-U-N-S® RegisteredTM Solution will help MSME plastic exporters to build their credibility and increase their visibility, both domestically as well as globally. It will also act as a differentiator across various platforms among their peers,” added Mr. Goenka.
Mr. Sribash Dasmohapatra, Executive Director, PLEXCONCIL, added, “I am delighted to inform you that PLEXCONCIL has signed an Memorandum of Understanding (MoU) with Dun & Bradstreet for D-U-N-S® Number, a nine-digit unique identifier for businesses, that is often used by exporters and importers around the world, including the US, Australia and the European Union, to help establish the legitimacy, ownership, and creditworthiness of their business partners. As part of our arrangement, Dun & Bradstreet shall also offer D-U-N-S® Registered seal in the package so that it can be used on website, and added on email signatures, documents and presentations by members of the council. The special package available to PLEXCONCIL’s MSME members will go a long way in nurturing relationships and furthering developing the market.”