About the awards
Micro, Small & Medium Enterprise (MSME) sector is a critically important sector of the economy, as there are around 6.34 crore MSMEs in India. This sector is one of the principal contributors to Gross Domestic Product (GDP), exports and employment generation in the country.
Small Industries Development Bank of India (SIDBI) and The Economic Times have joined hands to bring the second edition of SIDBI-ET India MSE Awards, a platform created to recognize and reward performers in both the micro and small enterprise categories for some outstanding achievements in the manufacturing and services sector. The awards will be a celebration of contributions of those MSEs who have contributed to the ‘Make in India’ initiative and can be an inspiration to millions of other enterprises across the country. CRISIL has joined us as the knowledge partner for these awards.
The Awardee MSE
in each of the categories
shall be eligible
for the following:
- Mentorship by leading business personalities
- Capacity building at premier Institutes & many others
Applications welcome in four categories
Awards in each category
- In all 20 awards across 5 categories and 3 special category awards for noteworthy efforts in MSE lending segment – Banks/Non-Banking Financial Companies/Fintech
- Award Description
- Most Tech Savvy MSE MSE which leverages on technology to successfully grow its business and have demonstrated significant improvement in process /product with technology adoption.
- Woman MSE Achiever An outstanding woman entrepreneur who holds majority stake in her business and has shown an excellent record in establishing and leading a successful business.
- Best MSE Exporter Sustainable export business model generating maximum percentage of revenue and profit from exports to various countries.
Entrepreneur Micro & Small Enterprises(MSE) who have demonstrated use of innovative products, processes, or services and have the ability to convert the concept into a successful business model. The MSE should also be the first to introduce the innovative concept in India and must have patented the same.
Best Employment generating
MSE Enterprises which have made an exceptional contribution towards employment creation both in terms of number of employees added and growth in employee base.
Lender to MSEs
(Special Category) The SIDBI-ET India MSE Awards honors the noteworthy efforts of the Banks, NBFCs and Fintech companies in the MSE lending segment. It aims to recognize lenders which have truly gone beyond expectations and demonstrated excellence in loan delivery to MSEs over the course of the fiscal year 2018 and 2019.
- Annual turnover of upto Rs. 25 crore (as on March 2018), profitable operations and having positive net worth (capital + reserves)
- Employee base of 10-250 full time employees
- Established business – 3 years (FY 18, FY 17 and FY 16) of operations
- Must be wholly owned and managed by Indian nationals or Non-resident Indian (NRIs) /Persons of Indian Origin (PIOs) and with Registered office in India
- No defaults by the MSE, its promoters and its group entities to any lender in the past 3 financial years (FY 17 to FY 19).
- The MSME definition does not factor trading and hence the same will be restricted to select categories such as online trading
- Franchisees /dealerships of corporates/MNCs and enterprises engaged in financial services (chit funds, lending, broking, etc) are ineligible.
- All banks and NBFCs operating in India are eligible to apply for the awards.
- Lenders must necessarily have loan products to cater to MSEs. The definitions of micro and small enterprises are in accordance with the provision of Micro, Small & Medium Enterprises Development (MSMED) Act, 2006 and the lending as per RBI’s guidelines on lending.
- Only those engaged in manufacturing and services are eligible for applying for all categories.
- Neither the Applicant MSE, nor any of its promoters/directors and group/associated firms are defaulters to any lending institutions.
- Traders are eligible to apply under two categories Innovative Business, and Technology adoption
- Entity should not be owned by a foreign group, should not be a subsidiary of a large business house/group
- Upon successful submission of the nomination form, a digital participation certificate would be issued jointly by SIDBI and ET.
- CRISIL would provide iCheck on a complimentary basis to all eligible (Conditions apply) applicants. iCheck is an independent verification of an MSE's presence in the market. For more details please visit https://www.smefirst.com/products/crisilICheck. The iCheck would be mailed to all eligible applicants after the closure of the nomination process.
- Candidates shortlisted for second level would be offered CRISIL Credit Assessment Score (CCAS) priced at Rs 6,999/- free of
charge on a complimentary basis for one year (Conditions apply) . CCAS score would be one of the parameters that would be considered for screening beyond first level. For more details on CCAS please visit, https://www.smefirst.com/products/CrisilCreditAssessment
What are Lenders saying?
They see MSE performance improving
9 out of 10 lenders expect
overall business situation of MSEs to improve
Asset quality expected to show some improvement
5 out of 10 lenders expect a decrease in NPA
Funding challenges seen continuing for a while
5 out of 10 lenders believe it is difficult for MSEs to
get bank funding
What’s limiting MSE growth?
According to the survey, the limiting factors, in descending order, are:
Access to Capital
Availability of Technology
Power and Infrastructure
Availability of Raw Material
We will be updating it soon.