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00:00a very warm welcome to idfc first bank presents leaders of tomorrow's season 13 powered by tata
00:26telebusiness services i'm rithvika gupta and tonight we are bringing you highlights from our
00:31first springboard of season 13 hosted in mumbai centered on the theme purpose progress and
00:36prosperity in the first segment feature an inaugural address by our honorable chief guest
00:41srimangal prabhat lodha minister skills employment entrepreneurship and innovation government of
00:46maharashtra in the second segment a special keynote by ashish singh head retail liabilities idfc first bank
01:00india's financial capital mumbai is where ambition meets opportunity it is a home to bold thinkers
01:06and emerging change makers who embrace change and lead with agility empowerment of msmes is the key
01:15so of course the more we concentrate on msmes the better it will be for the indian growth
01:22with its spirit of resilience mumbai is not just a financial powerhouse but also a hub of progress
01:29and purpose you have been witnessing various conflicts across the globe so i think it is the
01:34right time to hold these kinds of events i am really looking for what are the opportunities
01:40among those uncertainties today all eyes are on mumbai as it sets the stage for leadership in the global
01:47financial landscape driving conversations that will shape the future of entrepreneurship
01:53it leaders of tomorrow
01:59of the india
02:12Let's you rise with India.
02:14Manini Narendra Bhai Modi Ji
02:16نے جو بھارت کو
02:17Vixit bھارت کا سپنا دیکھا ہے.
02:20اس سپنے کو
02:21ساکار کرنے کے لیے
02:23اس میں
02:24فرکار اور
02:26جنتہ کے پیچھ میں
02:27کوئی دی کڑی ہے.
02:30تو وہ کڑی
02:31اس کڑی میں
02:32سب سے مضبوط کڑی
02:33ET News Channel ہے.
02:35ET
02:36جو باتیں دکھاتا ہے
02:38ET جو باتیں کہتا ہے
02:39اس کی
02:40Creativity
02:41سب سے اوپر ہے.
02:43اس پہ کبھی کوئی
02:43question mark نہیں ہوتا ہے.
02:44ET نے آیا پہنچ سچ ہوگا.
02:48میں
02:48میرا introduction
02:50جو کرائے گیا
02:51میں
02:51مہاراشتہ سرکار میں
02:52مانگے دیویندر فرنبی
02:54جی کی نیترات میں
02:54اسکیل
02:56انویشن
02:56مینیسٹر ہوں.
02:59انویشن
03:00اسکیل
03:00ایک ایسا سبجیکٹ ہے
03:03اسٹارٹ اپ
03:05جس کے بارے میں
03:06آج سارا بھارت
03:07بات کر رہا ہے.
03:08مانین
03:09Narendra Bhai
03:09مہدی جی نے
03:10پردار منتری
03:11بننے کے بارے میں
03:112014 میں
03:12پہلے کوئی
03:13department
03:13الگ سے
03:14شروع کیا
03:14تو وہ
03:14انویشن
03:15کا
03:15department
03:15تھا.
03:16اس کی
03:16انویشن
03:16department
03:17بات کرنے کے بارے میں
03:17بات کرنے کے بارے میں
03:18بات کرنے کے بارے میں
03:20سے یہاں کے لوگوں کو بات کرنے کی عادت ہے.
03:23ہر ایک بات کرنے کی بات کرنے کیا بات کرنے کی عادت ہے.
03:25Thank you very much.
03:55Thank you very much.
08:27Our hope is that when we choose one 5-0-0-0-0-0-0-0-0-0-0-0-0-0, we will say that we are not giving exams, we are happy that we are doing hair cutting saloon, we are doing packaging, we are doing these things.
08:43our business is self-employment. But what is the problem? The problem is that in the country
08:48you are prepared, you have not given a job, you have not given a job, you have not given a job,
08:52so in this country there will always be a big flood. And this is for me,
08:58all of you, E.T. is not a news channel for me today. E.T. is very good for our social
09:04responsibility. And that's why all of you who are very important people,
09:10they will request me, that the city may not be your birthplace,
09:15but now you are here, you are a Maharashtian. So we will stay here and stay here,
09:20and we will do something good for these people. So we will also do a future of our family,
09:25not only in the long run, we will not know that when the revolt is ready.
09:29And for this, for our self-employment scheme,
09:33you will support this, and you will have a guarantee,
09:37that the city of Mahaara has 470. We have 470 ITI.
09:41It means the technical schools in the rural area.
09:45We have now made all the ITI as a private-public partnership.
09:51The people you represent in the industry and factory,
09:55and the company and bank companies,
09:57I would like to request them that you have interest in our scheme.
10:03But our purpose is so that we can get a job in the city of Maharashtra.
10:08In the city of Maharashtra, Devinder Farnvizji has prepared an atmosphere
10:13that if someone wants to do it, it is best for them.
10:17I want to tell you a little bit about it.
10:19It's called Innovation City.
10:21The city of Maharashtra, Devinder Farnvizji,
10:23has made 300 acres of land on the new airport.
10:26I have already marked the new airport.
10:28And what is going to happen?
10:30We are going to give you a place for innovation.
10:34So, those who want to work with children,
10:36we are going to have a automobile,
10:39which is the best company in the automobile,
10:41we are going to build a whole building.
10:43We are going to build a automobile innovation.
10:45There are different fields,
10:47like artificial intelligence,
10:49medicine,
10:51there are different fields,
10:53there are different fields,
10:55films, entertainment figures.
10:58We are going to build a whole building.
11:00We are going to build a whole building.
11:01So, I will also request you,
11:02that you all,
11:03in your mind,
11:04you will be able to do social services.
11:07In the 20th century,
11:08I was going to go to a village,
11:10and I was going to go to a village,
11:11and I was going to go to engineering colleges.
11:12After I opened a lot of engineering colleges,
11:14after I opened a lot of engineering colleges,
11:15I got a degree,
11:16I got a medical degree,
11:17I got a engineering degree.
11:19But the people who were taught,
11:21were so difficult,
11:22because the teachers didn't have up to the machine,
11:25so faculty didn't have good potential.
11:28How did the production happen?
11:29The production has always been the same.
11:31So, the kids took their degree,
11:32took my medical degree,
11:33took my medical degree,
11:34took my medical degree,
11:35took my emergency degree.
11:37They said,
11:38that you put 4-3 steps,
11:40so the nurse said,
11:41I will not put it,
11:42then I'll put it.
11:43It's a great job.
11:44This is our education system.
11:46Thank you very much.
12:16It's time for a quick break here. We'll be back shortly. Stay tuned.
12:46We'll be back.
13:16Welcome back to IDFC First Bank Presents Leaders of Tomorrow Season 13, powered by Tata Tele Business Services.
13:25You're watching highlights from our Mumbai springboard.
13:27In this segment, we bring you a special keynote presentation on building resilience and growth for India's MSMEs by Ashish Singh, Head Retail Liabilities, IDFC First Bank. Take a look.
13:37I must congratulate Time's Down at work for kind of doing a fantastic job of setting this up place.
13:49At IDFC First Bank, we are incredibly proud to be a partner for the last eight years in a row that's there.
13:54Over the years, this platform has consistently celebrated bold thinkers. We heard this, right? The visionary leaders, emerging changemakers in India's MSME ecosystem.
14:06And this year's theme of agility, ambition and ascent perfectly captures the spirit that the MSMEs need to navigate this rapid change and to scale and to grow to newer heights that are there.
14:21If you look at the Indian MSMEs today, they are operating in a highly uncertain and volatile environment, both globally and domestically.
14:31Globally, we are seeing that MSMEs are navigating.
14:35There is a sluggish recovery across the advanced economies, there are supply chains disruptions, there are geopolitical tensions that are playing out.
14:45Domestically, there is a shifting consumer demand.
14:48When we look at the MSMEs today, you will see that they are the backbone of the India's economy, right?
14:54There are 73 million MSMEs and that number is growing rapidly.
14:58They contribute nearly 30% of the country's GDP, nearly 45 to 50% of the country's exports.
15:06They are the second largest employer with nearly 260 million people that's there.
15:11They play a similar foundational model across the other advanced and emerging economies as well.
15:17What in India is 30% is roughly 50 to 55% across those entities.
15:23Now, with India's mission of trying to kind of become a $30 trillion economy over the next two and a half decades, that's going to be driven primarily by this.
15:34So, this segment alone would contribute nearly $10 to $12 trillion in terms of the output.
15:41That's how critical this entire economy is, this segment is.
15:45But when you look at the MSMEs, not everything, it's not a homogenous group, they have multiple, they have diverse needs, micro, small and medium, they have different needs that are there.
15:58Micro are sort of more, they are the informal MSMEs that are there, their needs are far more simple, they're looking at micro credits, they're looking at payments, they get unsecured credit.
16:11Often, this is backed by credit guarantees that are there, the small ones are the ones that are sort of formally moving into the economy.
16:20When you look at the medium economy, the medium MSMEs, they're the ones which are sort of more export oriented, their growth focus, their needs are different.
16:30They're looking at trade finance, they're looking at scale up capital, they're looking at different kind of needs.
16:37There's no one size fits all model that kind of resonates across.
16:42The pain points that they have are very similar.
16:45When we look at the headwinds that they are faced with, we talked about the fact that there's, we heard this earlier as well, the fact that there's a lack of formal credit on the back of documented income, on the back of collaterals that is there.
17:00There's a huge gap that exists across the MSME space.
17:04Technology and skill gaps, they are limiting our overall competitiveness, that's there.
17:11Weak market linkages as well, right, but the one I want to touch about is the vulnerability of the MSMEs.
17:18We are now even seeing an intensified sort of competition from the low cost imports that is there.
17:24So, I mean, you can kind of sense that being an MSME isn't easy.
17:30This is a very fragile world, right?
17:32And the fact that they continue to grow on Abated, I think, is a testimony to the resilience of this entire sector, right?
17:40They've also been helped by the fact that you've got some tailwinds and you've got an environment that's got created.
17:48Under the pages and mission of Aatma Nalibar Bharat, there's now a very strong push for local manufacturing.
17:54I mean, you're seeing local manufacturing step up across electronics, along defense, along renewables, different segments.
18:03And when you look at the government's PLI scheme that is there, the aim is to sort of make India as a factory to the world itself, right?
18:11Apart from that, logistics, the amount of capex spend that is coming in to kind of put in place faster highways, freight corridors, ports, warehouses.
18:23This is all sort of cutting down transit times across and sort of helping us kind of expand quickly.
18:29Digital railroads, I mean, this is something that we've heard upon, and I think this is something that India as a country is incredibly proud of,
18:36the entire digital public infrastructure that we've made out, right?
18:42Whether it's the UPI, whether it's ONDC, whether it's the GST, whether it's the TRETS platform,
18:48all of this is sort of now coming together to provide seamless commerce and allow data lending to happen separately, right?
18:55Establishment of enablement of the formal credit.
19:00In fact, there are various government guarantee schemes that are coming through, whether in the form of CGT, MSC, ECLGS,
19:09that is their Stand Up India scheme there.
19:11The government, I think at their end, they're doing a fantastic job of sort of being able to sort of put this platform together to support the MSMEs.
19:19But even from here, the segments, we need to sort of pivot away, right?
19:24How do we sort of get the growth that we are looking at?
19:27We still have a lot of MSMEs who've not got integrated into the formal economy.
19:32I mean, now it's very simple, just with a very simple, with a registration on GST and on the overall Udyam platform,
19:40you can get registered and you can get access to credit.
19:43Second, I think the MSMEs need to continue to sort of focus on R&D and innovation.
19:51Apart from the local, the products, design focus and the overall process focus, there needs to be this effort to be able to sort of constantly lead through innovation that's there.
20:03The important one, of course, is the digital and the AI revolution, right?
20:07This is a massive game changer for the entire MSME space today.
20:11I think for the MSMEs, the key thing is not to kind of go back to yesterday's traditional industrial models that were there,
20:20but to kind of figure out a way to plug into the AI-enabled, high-powered sort of systems that's there.
20:27Very quickly, if I can kind of share, at IDFC First Bank, we are obviously trying to build a world-class bank.
20:33We go by three core beliefs of being guided by the ethics, powered by technology and being a force for social good.
20:40We are incredibly proud of building systems and building products that pass what we call as the near and dear test,
20:47which means these are products that we are delighted to sort of offer to our near and dear ones as well.
20:53We are constantly thinking and building digital and this is to sort of enable access to build transparency
21:01and to kind of ensure that there's a seamless and convenient solution offered to each and every customer at their fingertips.
21:07In fact, our mobile app is actually rated as number one in the entire country and we are sort of one of the only banks,
21:15Indian banks that are there in the top five global list that is there.
21:20Being a universal bank, we've obviously offered an entire plethora of products, whether it's a saving need,
21:26whether it's a business need, whether it's an investment need, whether it's a payment need,
21:31across the entire spectrum, we've got sort of solutions for all.
21:36But when I look at MSMEs, we've sort of specially curated products that sort of meet their diverse needs.
21:43So we've got different products across each of their life cycle and overall deal management.
21:49We've got the traditional deposit products for the liquidity and trust.
21:54We've built in working capital and business loans that helps meet sort of their fund expansion and fund operation that's there.
22:03We've got products that are designed for cash management and for trade finance, which sort of helps streamline their flows.
22:10We've got advisory support services which help in the P&L management right from revenue to cost efficiencies.
22:15So across the entire spectrum, we've got some products that sort of scale out.
22:21We've also got a very unique startup banking program, which sort of rests on three core pillars,
22:28where we are sort of looking to sort of integrate.
22:30We've combined three elements, which talks about digital savvy infrastructure,
22:34which sort of integrates very seamlessly into the way the startups operate.
22:40We've curated products for their specific needs.
22:43We have a zero balance account for the early stage startups that is there.
22:46Right. And as you grow, as the trend leads grow, we've got credit solutions for you.
22:50We've got bespoke cash management solutions for you as you scale.
22:53So across each and every stage of maturity, we've got products that you sort of put out for you and do that.
22:59But the biggest thing that we've done on the startup banking space is the partnership mindset.
23:05We're just not a banker to the MSMEs and to the startups.
23:10We look at ourselves as a growth enabler.
23:12I mean, if I were to sum this up, when we talk of resilience, we talk of the fact that
23:17the MSME should be able to withstand shocks and kind of move forward.
23:22When we talk of inclusion, the idea is to ensure that no one is left behind.
23:26I think the government has done a fantastic job of sort of creating multiple platforms
23:30and ecosystems, which kind of allow people to sort of dip into that.
23:35And when we talk of growth, we're looking at how do we sort of help
23:39build and sort of grow these sustainably and globally.
23:43Now, imagine if the three come together, right?
23:45And for the MSMEs, if these three things come together, this trinity,
23:49this will sort of not only strengthen the entire MSME ecosystem,
23:53but will also sort of help India redefine its place in the world.
23:57Together, we can make this a reality.
23:59With that, it's a wrap on this edition of IDFC First Bank Presents Leaders of Tomorrow Season 13,
24:08powered by Tata Tele Business Services.
24:10We hope you enjoyed the episode.
24:11Thank you for watching. Goodbye.
24:29Bye-bye.
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