Power2sme unites with IIA for SME enablement in UP

Power2sme, the buying club for SMEs, and Indian Industries Association (IIA) have signed a Memorandum of Understanding (MoU), for fostering co-operation and support for the promotion of SMEs in the state of Uttar Pradesh. This association will be instrumental in helping SMEs overcome challenges and creating an environment favorable to accelerated growth for the SMEs.

Power2sme started its operations in April, 2012. The company's mission is 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) with 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.

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. As a part of the MoU, 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 6 months and will be covering 34 chapters of IIA in Uttar Pradesh, starting from the western region (focusing on Noida/Greater Noida/Ghaziabad). Power2sme will be registering all members of IIA in this region on their online platform in the next 6 months.

Speaking on the occasion, Goel 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 said, "We are extremely excited about this association and the opportunities that will emerge from this partnership with IIA, the apex body and a leading facilitator in the SME space. We believe that this association will serve as a backbone for the SMEs in Uttar Pradesh and will be instrumental in their growth."