Mumbai (Maharashtra) [India], September 9: The SME Finance Forum, a dynamic platform fostering SME financing, is poised to host the esteemed Global SME Finance Forum 2023 (GSMEFF 2023) in Mumbai from September 12 to 14, 2023. The theme of this year's event, "Digital Ecosystems and the Future of SME financing," emphasizes the significance of digital innovation in shaping the SME financing landscape. The conference is co-hosted by Small Industries Development Bank of India (SIDBI) and Indian Bank's Association (IBA) and supported by State Bank of India (SBI) as a Diamond Sponsor will be held at the Grand Hyatt Mumbai Hotel in Santacruz, Mumbai.
Established in 2012 by the G20 Global Partnership for Financial Inclusion (GPFI), the SME Finance Forum serves as a network that includes over 250 leading banks, NBFIs, FinTech pioneers, and development banks. It is managed by International Finance Corporation (IFC) and is considered as a beacon of industry collaboration.
The Global SME Finance Forum brings together experienced global leaders to facilitate the exchange of insights, promote best practices, and chart the future trajectory. The forum shall witness participation from over 700 senior bankers, tech luminaries, policymakers, and thought leaders from 70 countries, providing unparalleled opportunities for learning and networking.
The occasion is expected to be graced by eminent personalities - Shri. Narayan Rane, Hon'ble Union Minister of MSME, Govt. of India, Dr. Bhagwat Karad, Hon'ble Minister of State, Ministry of Finance, Govt. of India, Vivek Joshi, Secretary, DFS, Ministry of Finance of India, Nandan Nilekani, Co-founder and Non-Executive Chairman, Infosys, Mohamed Gouled, Vice President of Industries, IFC and many more.
Reflecting on the Global SME Finance Forum 2023, Qamar Saleem, Incoming SME Finance Forum CEO, stated, "I am honored to be taking over the reins of Global SME Finance Forum, world's leading SME finance network. This is truly an opportune time given the tremendous membership base consisting of leading institutions globally and recent digital evolutions which make closing the SME finance gap more achievable. SMEs create jobs and drive economic growth; hence we must muster up all forces to have SMEs thrive rendering lasting development impact. I would aim for Global SME Finance Forum to be a key catalyst in this journey."
Commenting on the event, Matt Gamser, Outgoing CEO of the SME Finance Forum said, "This year's event, focusing on digital ecosystems and the future of SME financing, is shaping up to be our largest and most technically fascinating event ever. It's so appropriate that we're holding the event in India, which has made digital public infrastructure a top priority of its G20 Presidency, too."
Sivasubramanian Ramann, Chairman & Managing Director, Small Industries Development Bank of India (SIDBI), said, "As we take pride in hosting this year's Global SME Finance Forum 2023, I am grateful for the opportunity extended to SIDBI for hosting such a prestigious event that has witnessed tremendous participation of industry stakeholders across the world and encouraged discussions on very relevant issues and trends on the SME Sector. The three-day event has been marked by buzzing enthusiasm from participating institutions. With India taking the presidency of the G20 for the first time, the country's views, and outlook on the MSME sector is of significance for the world. The strides made by the Government of India in developing a robust digital infrastructure and the consequent digital innovation by various players in MSME credit domain needs to be discussed, encouraged as also celebrated."
"As we delve into "Digital Ecosystems and the Future of SMEs", we are honored to welcome world leaders, policy makers and thinkers to advise on innovative paths. SIDBI's commitment to SMEs fits perfectly into the event, which explores how digitalization is changing the landscape of economic growth. To name a few recent initiatives in this space taken by SIDBI include GST Sahay - which is an 'on-tap' invoice-based financing for micro enterprises; Open Network for Digital Commerce (ONDC) - to promote open networks for exchange of goods and services over digital or electronic networks, etc. With this, we look forward to connecting with our peers and pioneers to take the SME sector to new heights."
Dinesh Khara, Chairman, State Bank of India (SBI), "Global SME Finance Forum 2023 has been at the forefront in creating a robust platform for sharing of ideas and promoting the cause of SMEs at a global level. We value the opportunity extended to us for associating with such a prestigious event. The three-day event offers unparalleled opportunity to discuss, engage and chart out the journey for SMEs in ever-evolving digital landscape."
"At SBI, "Digital" has been the driving agenda. We have re-designed processes and products to cater to the needs of SMEs. Digital is the present and the way forward to meet the growing needs of SMEs timely, adequately and conveniently."
The key conference attractions are as follows:
IFC - a member of the World Bank Group - is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record $43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises.
For more information, visit www.ifc.org.
The SME Finance Forum was established by the G20 Global Partnership for Financial Inclusion (GPFI) in 2012 as a knowledge center for data, research, and best practice in promoting SME finance. As an implementing partner for the GPFI, the International Finance Corporation (IFC) was tasked with managing the initiative. The Forum operates a global membership network of +240 members that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs.
Discover the SME Finance Forum members: www.smefinanceforum.org/members/member-list
SIDBI, set up on 2nd April 1990 under an Act of Indian Parliament, is the Principal Financial Institution for Promotion, Financing and Development of the MSME sector. SIDBI has been playing a significant role in developing the financial services for MSME sector through various interventions including Refinance to Banks, Credit Guarantee programs, Development of the MFI sector, Contribution to Venture capital/AIF funds, MSME ratings, promoting digital lending ecosystem, etc. The Bank has proactively been working towards Energy Efficiency (EE) in MSMEs since 2005-06 using support of multilateral institutions like World Bank, ADB, GiZ, FCDO, JICA, AFD, KfW etc. for energy efficient projects. Furthermore, SIDBI has been touching the lives of citizens across various strata of society through its integrated, innovative, and inclusive approach. Be it traditional, domestic small entrepreneurs, bottom-of-the-pyramid entrepreneurs, to high-end knowledge-based entrepreneurs, SIDBI has directly or indirectly impacted the lives of Micro and Small Enterprises (MSEs) through various credit and developmental measures.
To know more, check out www.sidbi.in.
State Bank of India (SBI) a Fortune 500 company, is an Indian Multinational, Public Sector Banking and Financial services statutory body headquartered in Mumbai. The rich heritage and legacy of over 200 years, accredits SBI as the most trusted Bank by Indians through generations. SBI, the largest Indian Bank with 1/4th market share, serves over 48 crore customers through its vast network of over 22,405 branches, 65,627 ATMs/ADWMs, 76,089 BC outlets, with an undeterred focus on innovation, and customer centricity, which stems from the core values of the Bank - Service, Transparency, Ethics, Politeness and Sustainability. The Bank has successfully diversified businesses through its various subsidiaries i.e., SBI General Insurance, SBI Life Insurance, SBI Mutual Fund, SBI Card, etc. It has spread its presence globally and operates across time zones through 235 offices in 29 foreign countries. Growing with times, SBI continues to redefine banking in India, as it aims to offer responsible and sustainable Banking solutions.
To know more, check out sbi.co.in.
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