New Delhi | Jagran Business Desk: Micro, small and medium-sized enterprises (MSMEs) provide more than two-thirds of the jobs worldwide and have also helped in creating lakhs of new jobs in recent times. But SMEs still face major challenges like working conditions, productivity and funds, despite their huge contribution to global employment. Apart from this, there are many other challenges like lack of access to new technology, not being able to market your product, not maintaining your profits, lack of investment in training and equipment. However, despite fewer resources and fewer funds, there are many SMEs that are doing well and contributing to the Gross Domestic Product (GDP).

SMEs are also the engines of economic growth and social development. Most OECD (Organization for Economic Co-operation and Development) countries, contribute more than 50% of GDP. This contribution varies across sectors and is particularly high in the service industry. The role of this sector is very important in a developing country like India.

Recognizing the contribution and importance of SMEs, Jagran is honouring them in its edition of Naya Bharat SME Awards 2021 today at 6 pm. This award will be given to those SME businesses and leaders who have presented a solution to society with their innovative products and services. The event partners are Luminous and Havells and Associate Sponsor is IndusInd Bank

A total of 15 categories have been created to honour companies and leaders for their outstanding contribution to the SME sector. The winners will be announced by an online vote of an eminent jury with expertise in the economy and SME sector.

The jury included Vipin Anand, former Managing Director of Life Insurance Corporation of India, Waqar Naqvi, CEO, Taurus Mutual Fund, DK Aggarwal, CMD, SMC Investments and Advisors Ltd., Vivek Bindra, CEO and Founder, BadaBusiness.com, Kishor Ostwal, CMD, CNI Research Ltd. Brinda Jagirdar, former chief economist of SBI and Pratyush Ranjan, executive editor of Jagran New Media.

SMEs are important not only for job creation and economic growth but also for sustaining innovation and competitiveness in markets. Honoring SMEs contributing to the country's economy at the Jagran Naya Bharat SME Awards 2021 will encourage them and motivate them to move forward. You too join this award distribution ceremony today at 6 pm on Jagran Facebook and YouTube channel.

Posted By: Talibuddin Khan