MSMEs play a major role in economic development of a country. According to PIB, the contribution of MSMEs to India’s GDP in FY 2021-22 was 29.15 per cent. Its contribution to manufacturing sector during the financial year was 40.83 per cent. Not only do MSMEs contribute significantly to the country’s economy, they also play a major role in social development as they provide employment in rural areas and they also contribute to CSR.
June 28 is observed as International MSME Day across the globe. On this International MSME Day, Nasscom Foundation and NASSCOM SME Council announced a program to assist Small and Medium Enterprises (SMEs) in achieving their CSR goals. This collaborative effort involves leading SMEs in technology sector, focused on enhancing the tech skills and employability of marginalised youth. The initiative was launched in Delhi, with expansions being held in Hubballi and Trivandrum simultaneously.
Upskilling in Emerging Technologies
The initiative aims to train and upskill 120 youth from the three locations in emerging technologies. The comprehensive training includes short-term courses in Python and Data Analytics, holistic personality development, and industry-recognized certifications via FutureSkills Prime, enhancing employability prospects. Upon successful completion, 50% of the skilled youth will have access to employment opportunities in the tech sector.
The initiative is spearheaded by industry leaders including Sriram Subramanya, Founder, Managing Director, and CEO of Integra and Chairperson NASSCOM SME Council; Maulik Bhansali, CEO of NetWeb Software and Vice-Chairperson NASSCOM SME Council; Priyankar Baid, CEO of OHI; Vijay Kumar,Co-Founder & CEO,InApp; Jayachandran Nair, Co-Founder & CEO at Trenser; Amit Shah, Director XS CAD; and Partap Aggarwal, Founder & CEO @ IDS Infotech.
SMEs Face Challenges in CSR Implementation
Although SMEs play a crucial role in the global economy, they face challenges in implementing effective CSR strategies due to limited resources, lack of awareness about CSR benefits and regulations, and insufficient resources and expertise to implement social initiatives. The complexity of navigating CSR regulations and the short-term focus on immediate business needs often overshadow the potential long-term investments of CSR.
Recognizing the challenges faced by SMEs and enabling them to contribute to CSR efforts, NASSCOM foundation has turned to a collaborative approach which not only amplifies the social impact but also fosters a sense of community and shared purpose among the participating enterprises.
Sriram Subramanya, Founder, Managing Director, and CEO of Integra, remarked, “Integrating CSR into an SME’s core business can indeed be challenging. I am thrilled that we have launched the first cohort, uniting SMEs under a common CSR goal through a pioneering collaboration with nasscom foundation. This initiative offers unique value, creating a more conducive environment for upskilling young people, especially girls from marginalized communities.”
Srikanth Srinivasan, Vice President, nasscom, said, “SMEs often grapple with limited budgets and resources, which can hinder their ability to implement effective CSR strategies. Recognizing these challenges, our collaboration with the nasscom foundation aims to foster a community of SMEs dedicated to overcoming these obstacles by integrating CSR into their core practices. We are thrilled to launch this initiative with seven pioneering SME members and look forward to expanding our collaboration, thereby enhancing our collective impact on CSR and sustainable growth.”
Emphasizing the pivotal role of SMEs in driving social impact, Nidhi Bhasin, CEO of NASSCOM Foundation said**, “**SMEs, which constitute a significant part of our economy, are essential in amplifying social initiatives. At nasscom foundation, we have developed a collaborative model that unites SMEs towards a common CSR goal, particularly in skilling the youth. As the demand for skilled professionals surges, it is crucial to equip marginalized youth with the necessary tools to thrive in this dynamic landscape. We are proud to have seven nasscom SME members join us in this initiative, and we look forward to expanding our collaboration to include more SMEs to further enhance our collective CSR impact.”
As a pilot project, this initiative will initially focus on Delhi, Hubballi, and Trivandrum, with plans to expand to other regions of the country. By continuously engaging with SMEs and understanding evolving industry needs, NASSCOM foundation aims to refine and scale this collaborative CSR effort, ensuring its long-term sustainability and maximised social impact.
