The SME conclave at IIM Lucknow conducted in association with the Indian Industries Association saw the participation of representatives of the three pillars of economy - the polity, the academicians and thepractitioners. 

The conclave focused on two aspects concerning the SMEs - Free Trade Agreements and Low Cost Financing.

The pre lunch sessions given by the guests who includedShri Pravir Kumar, Joint Secretary, MSME, Prof. Sukumar Nandi, M. Akbar,K. G. Sahadevan of IIM Lucknow and Prof. Biswajit Nag of IIFT delved on the impact of the ASEAN free trade agreement on the Indian SME sector. The professors talked about impact of the previous free trade agreements that India had with Thailand, Sri Lanka and Singapore. While the practitioners expressed concern over the upcoming FTA with ASEAN, the academicians helped them understand the benefits of having access to larger markets. The professors encouraged the practitioners to think beyond national boundaries and to set up manufacturing / service facilities outside the country. They stressed on innovation and improving the scale of operations of the current SMEs. They also wanted the industry associations to appraise the government about their concerns so that detrimental decisions regarding the product lists involved in the FTAs are averted. The delegates from the Industry clarified many doubts regarding the fine print of the FTA.

The post lunch sessions were given by Mr. Chaubal of SBI, Mr. Gunasekharan of SIDBI Venture Capitalists, Mr. Shailesh Vikram Singh of 2i Capital, Mr. Ajay Kapur of SIDBI Venture Capital, Mr. Paul Joseph of MCX-SX which is a stock exchange for SMEs in India and Prof. Vinay Kumar of IIM Lucknow. The bankers appraised the participants of the various products that they designed specifically for the SMEs to reduce cost of financing. The Venture Capitals explained their methods of financing organizations which had high risk profiles but very promising ventures. They explained how different financing options were available at each stage of the organizational life cycle. The dignitary from MCX SX talked about the secondary market financing for SMEs which were not big enough to register at the national stock exchanges like NSE and BSE. Prof. Vinay Kumar brought about the perspective of the investor in evaluating firms and suggested areas of improvement so that financing from alternate sources could be possible at lower costs.

The objective of the conclave was met at the end of the day and the participants appreciated the creation of such a platform where they could pose their concerns and get instant solutions from eminent speakers. The conclave has been an indication for the role that institutions can play in ensuring the prosperity and success of Indian SMEs. Prof. Nirjar of IIM Lucknow and representatives from the student committee Abhiyan told the congregation that the conclave was a step taken by IIM Lucknow to reinforce its commitment to the SME sector. The institute has other training programs planned for the sector to empower the entrepreneurs to emerge as victors in the changing economic environment.

Contributed (www.coolavenues.com ) by - Nitin Jacob, Spokesperson, Media Relations Committee, IIM, Lucknow.