MUMBAI, India, Jan. 30, 2024 /PRNewswire/ -- Dun & Bradstreet Information Services India Pvt. Ltd., the leading global provider of B2B data, insights and AI-driven platforms, signed a Memorandum of Understanding (MoU) with The Plastics Export Promotion Council (PLEXCONCIL) to create an ecosystem for promoting, aiding and fostering the growth of Small and Medium Enterprises (SMEs) exporters in the country. This partnership will help SMEs in India to increase their visibility, expand access to global markets, find potential customers, uncover new suppliers and channel partners, manage risk and identify growth opportunities.
The Indian government has set a target for the country to become a US$5 trillion economy by FY 2025 and SMEs will play a critical role in this growth journey. This segment is expected to contribute 50% of GDP by FY 2025 from the current 30%. To achieve that target, SMEs must contribute 75% to the incremental GDP between today and FY 2025. This represents a significant contribution of SMEs to India's growth and they will require increased support from the government, policy makers and business service providers.
Commenting on the collaboration, Mr. Avinash Gupta, Managing Director & CEO – India, Dun & Bradstreet, remarked, "For over two decades, Dun & Bradstreet has been dedicated to empowering Indian MSMEs, offering essential business intelligence for their sustained growth. With more than 99% of businesses falling within the Micro, Small, and Medium category in India, and a substantial 94% operating in an unorganized capacity, our collaboration with PLEXCONCIL is poised to be instrumental in propelling the growth of MSMEs, particularly those involved in plastic exports. Through the utilization of Dun & Bradstreet's D-U-N-S® RegisteredTM Solution, MSME plastic exporters can fortify their credibility and enhance visibility on a global scale. In the upcoming quarter, we are excited to introduce an ESG seal tailored for our MSME customers, facilitating seamless collaboration with larger corporates. This initiative not only aids MSMEs in aligning with ESG targets but also encourages larger corporations to actively engage with the MSME supply chain, fostering a sustainable and mutually beneficial ecosystem."
Mr. Hemant Minocha, Chairman, PLEXCONCIL, said, "This collaborative venture with Dun & Bradstreet marks a significant milestone in our proactive initiatives. It is poised to empower SME and MSME members of PLEXCONCIL with diverse D&B services, providing them with essential tools to overcome challenges and propel business growth. Leveraging Dun & Bradstreet's D-U-N-S® RegisteredTM Solution, MSME plastic exporters can not only fortify their credibility and visibility on both domestic and global fronts but also gain a competitive edge across various platforms within their industry peers."
Mr. Sribash Dasmohapatra, Executive Director, PLEXCONCIL, shared his enthusiasm, stating, "I am thrilled to announce that PLEXCONCIL has formalized a Memorandum of Understanding (MoU) with Dun & Bradstreet for the issuance of the D-U-N-S® Number. This distinctive nine-digit identifier is widely recognized by exporters and importers globally, including in the US, Australia, and the European Union. It serves as a valuable tool to establish the legitimacy, ownership, and credit-worthiness of business partners on an international scale."
Expanding on the collaboration, he mentioned, "As part of our collaborative efforts, Dun & Bradstreet will provide a comprehensive package, featuring the D-U-N-S® Registered seal. This seal can be prominently displayed on websites and incorporated into email signatures, documents, and presentations by members of the council. The tailored package, accessible to PLEXCONCIL's MSME members, is poised to play a pivotal role in nurturing relationships and advancing market development."
MSME plastic exporters may refer to these short videos: https://youtu.be/Quh2OzweE1M & https://youtu.be/Rl0PeLsU9TI to know the benefits of having a D-U-N-S® Number.
About PLEXCONCIL
The Plastics Export Promotion Council (popularly known as PLEXCONCIL) sponsored by the Ministry of Commerce & Industry, Department of Commerce, Government of India, represents the exporting community in the Indian Plastics industry. It is one of several Export Promotion Councils (EPCs) launched by the Government to project India's image abroad as a reliable supplier of high-quality products in order to give a boost to the country's exports. PLEXCONCIL is the apex body of the plastics industry in India and represents over 2,500 exporters who manufacture/trade in plastics products ranging from plastics raw materials to semi-finished and finished items.
PLEXCONCIL is committed to support the efforts of its members to achieve export excellence and service the overseas buyers to find appropriate trade partners in the Indian plastic industry. In its pursuit to achieve export excellence, various export promotional activities are undertaken by PLEXCONCIL. These include participation in international trade fairs; sponsoring delegations to target markets; inviting business delegations from the overseas to India; organising buyer-seller meets both in India and the overseas etc. and servicing the needs of its members. The Council also routinely undertakes research and surveys, organizes the Annual Awards to recognize top performing exporters, monitors the development of new technology and shares the same with members, facilitates joint ventures and collaboration with foreign companies and trade associations as well as represents the issues and concerns to the relevant Government bodies. Products from the Indian plastic industry are exported to over 200 countries round the globe with the major trading partners being the United States, European Union, China, UAE, Saudi Arabia, Turkey, Nigeria, Indonesia, Egypt, etc. For more information: http://www.plexconcil.org/
About Dun & Bradstreet
Dun & Bradstreet, a leading global provider of business decisioning data and analytics, enables companies around the world to improve their business performance. Dun & Bradstreet's Data Cloud fuels solutions and delivers insights that empower customers to accelerate revenue, lower cost, mitigate risk, and transform their businesses. Since 1841, companies of every size have relied on Dun & Bradstreet to help them manage risk and reveal opportunity.
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