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The financial sector is actively wooing the SMEs in India. SMEs constitute the bottom of pyramid that is large, has a high potential, but has been neglected for a long time. According to the latest annual report of the Ministry of Micro, Small and Medium Enterprises, SMEs account for almost 90% of industrial units in India. McKinsey has estimated that half the global population is unbanked. This poses a tremendous opportunity. Not a big surprise – this is fairly well known to many people. The last para of their report is interesting: “This is just a start. Updating and refining these analyses (and perhaps even refuting them) requires more detailed household and/or adult-level Shifts in risk appetite (need for preservation of principal) and return expectations – both at the retail and institutional level have created the need for product manufacturing and research in alternative investment areas. Recent events shaping these shifts include the following: Portfolio values of investors globally have shrunk to less than half during the financial crisis. Pratibha and I attended the “India Insurance 2020” conference arranged by FICCI earlier this week and got to hear what was on the minds of the industry bigwigs. The industry (particularly the life insurance segment) has grown very fast in the last 10 years. While initial growth came at a very fast pace, it has now The recently-concluded FICCI summit on Indian Insurance 2020 in Mumbai posed some interesting challenges on the future of Indian Insurance. Convergence in financial services held my |
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