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Axis Bank Launches the 6th Edition of ‘Evolve’ for MSMEs

In Business
January 28, 2020

Axis Bank, India’s third largest private sector Bank, today hosted the 6th edition of ‘Evolve’, an annual knowledge sharing seminar for the Bank’s Micro, Small and Medium Enterprises (MSME) customers.

This year, Evolve will focus on how MSMEs can play an important role in achieving the Government’s vision of a US$ 5 trillion economy. The seminar was addressed by Mahimm Gupta, Founder and MD, PP Merchandising Services Pvt. Ltd., who shared his experience and expertise on taking steps towards achieving this mission.

During the launch, Mohit Jain, Senior Vice-President-Commercial Banking Coverage Group, Axis Bank said, “We are thrilled to launch the 6 th  edition of Evolve, an open platform for all our MSME and SME customers where they can learn and interact with industry experts. It is estimated that MSMEs currently contribute 30% of India’s GDP, but the share definitely needs to go up to a target of around 50%. To achieve this set target, MSMEs will need to grow exponentially between FY19 – FY25. In our 6 th  edition, we aim to educate MSMEs, not only to enhance their performance, but also unlock their true potential and contribute to the vision of a US $5 trillion economy.’’

There are approximately 63 million MSMEs in India (as per RBI estimate), both registered and unregistered, accounting for a whopping 90% of the total number of enterprises in India. The revenue contribution made by these MSMEs will certainly make a huge difference in the Indian economy. MSMEs in India have the potential to reduce regional disparities and balance the distribution of wealth by setting up and running businesses in remote/backward areas. With continuous and enhanced learning, we aim to empower SMEs and MSMEs with the right knowledge that can help them propel their businesses and push for uninterrupted growth and progress of the entrepreneurs.

Axis Bank along with its knowledge partner Dun & Bradstreet, will host Evolve across 26 cities such as Mumbai, Delhi, Jaipur, Bhopal, Lucknow, Kochi, Bhubaneshwar, Coimbatore etc. Each session of the knowledge series will encapsulate new-age strategies, case studies, operational expertise, understanding of the regulatory framework and knowledge and skills to step up the growth process. Evolve was first launched in 2014, and this year we plan to reached out to more than 5000 customers across the cities.