The partnership aims to help U GRO Capital’s client base survive the current Covid crisis and thrive in a post-pandemic era. Wadhwani Foundation will work with these MSMEs to identify, consult, co-create and execute a pragmatic and thought through growth plan. MSMEs can benefit from this partnership by addressing their strategic, operational and development needs as part of the ‘Sahayata Stability Program’.
The MSME Sector is an important cog in the wheel of India’s ambitious target to be a $5 trillion economy by 2025. The nation’s 60 million plus MSMEs contribute to about 30% of its GDP, while also providing employment to around 120 million people. Covid-19 has hit the sector very hard and the problems they face include lack of access to capital, drop in revenue, supply chain disruptions and more.
The Wadhwani Advantage Sahayata Stability Program aims to help SMEs navigate through this crisis towards survival and eventual success. The support will come in the form of business consulting, digital learning, management through its network of advisors and in-house transformation managers with deep experience across sectors and business functions. Wadhwani Foundation offers end to end Project Management support to each SME throughout their journey.
Shachindra Nath, executive chairman and managing director of U GRO Capital, in a statement, said, “U GRO Capital was formed to solve the credit gap of India’s MSME sector. The challenges faced by business owners in the current macro environment are not restricted only to capital requirements. Micro, Small and Medium sized businesses need a lot more handholding across functions like Financial Management, Human Resource and Succession Planning, Operations, Pricing, Sales Solutioning, Digital Transformation and Customer Experience.”
“We have clear intent to help the MSMEs grow with our advice. We at Wadhwani Foundation as a part of the Advantage Program are focused on aiding the small businesses,” said Samir Sathe, EVP, Wadhwani Advantage, India, in a statement.