Power2sme’s MoU with Indian Industries Association (IIA) to empower UP SMEs

Infotech Lead India: Power2sme, the buying club for SMEs, and Indian Industries Association (IIA) have signed a Memorandum of Understanding (MoU), to foster co-operation and support for the SMEs in the state of Uttar Pradesh. This association will enable SMEs overcome to challenges and create an environment conducive to accelerated growth for the SMEs.

The agreement was signed in the backdrop of Noida Expo 2013 (3rd Global MSME Expo) by  Manish Goel, general secretary of IIA and by R. Narayan, founder and CEO, Power2sme. IIA and Power2sme have mutually agreed for collective purchase of raw materials for the members of IIA. This project will run for a period of six months. It will cover 34 chapters of IIA in Uttar Pradesh, starting from the Western region (focusing on Noida / Greater Noida / Ghaziabad). All members of IIA in this region will be registered by Power2sme on their online platform in the next six months.

Power2sme started its operations in April, 2012 with a mission to increase profits for the Indian SMEs by being a one stop destination for managing purchase requirements for multiple business needs.  Indian Industries Association (IIA) is an apex representative body of Micro, Small and Medium Enterprises (MSME). It has a strong membership base of about 5500 MSMEs. IIAs motto is to create an enabling environment for the development of MSMEs in today’s ever changing and extremely competitive industrial scenario.

Speaking on the occasion, Manish Goel, general secretary of IIA said, “Uttar Pradesh is home to an extensive network of industrialized districts. It has seen an impressive upsurge in economic growth in the recent past and is moving in the right direction to promote SMEs. We believe that this partnership will be able to reach out to the majority of SME companies across the state. We hope that partnering with Power2mse will help us to create further opportunities for the SMEs and also carve out a path for their future growth.”

Narayan, founder and CEO, Power2sme, said, “We believe that this association will serve as a backbone for the SMEs in Uttar Pradesh and will be instrumental in their growth. This initiative is another testament to the ongoing efforts of Power2sme to provide services enabling SMEs in India to become more competitive and profitable in their business.”

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