The conference highlighted the vital role of MSMEs in international trade and underscored the collaborative efforts needed to address challenges and capitalize on opportunities.
Indian Institute of Management Bangalore (IIM-B) and King’s College London (KCL), in partnership with the Federation of Indian Chambers of Commerce and Industry (FICCI), recently hosted a conference titled “UK-India Trade: Small Firms and Global Ambitions” at the India International Centre in New Delhi. The event unveiled key insights from a three-year collaborative research project focused on enhancing bilateral trade, particularly for Micro, Small, and Medium Enterprises (MSMEs) in the handicrafts sector.
Research Insights and Industry Engagement
The conference brought together policymakers, industry stakeholders, and academic experts to discuss the future of MSMEs and their global growth potential. The three-year research project, titled “Enablers and Obstacles to UK-India Trade (2021-2024),” is funded by the UK Economic and Social Research Council (ESRC) and the Indian Council of Social Science Research (ICSSR).
Led by principal investigators Professor Kamini Gupta and Professor Sunil Mitra Kumar from KCL, along with Professor Prateek Raj from IIM Bangalore, the study highlights the challenges and opportunities faced by MSMEs in bilateral trade.
Challenges and Opportunities for Handwoven Carpet Industry
Professor Prateek Raj shared insights into the handwoven carpet industry, emphasizing its composition of small firms with global ambitions. “Our research reveals that market linkages and demand-side factors are more pressing concerns than credit access, but there is significant growth potential,” he stated. He pointed out that regions like Kashmir could enhance luxury carpet exports through better export assistance and innovation support, while Uttar Pradesh and Rajasthan could explore new markets and focus on higher-quality products.
Importance of Social Networks in Trade
Professor Kamini Gupta stressed the significance of access to credit and social networks for unlocking the potential of India’s handwoven carpet industry. “Small firms often prefer inter-firm credit from suppliers or customers rather than formal options, highlighting the importance of relationships in facilitating global trade,” she explained. Gupta urged stakeholders to understand the specific needs of each region, such as export assistance in Kashmir and quality upgrades in Uttar Pradesh and Rajasthan.
Future Prospects for India-UK Trade
Professor Sunil Mitra Kumar discussed the vast potential for trade between India and the UK, especially in services, investment, and sectors like handicrafts and textiles. “With renewed focus on a free trade agreement, we anticipate significant opportunities for growth and collaboration,” he noted. He emphasized that this partnership would drive innovation, bolster exports, and strengthen economic ties between the two nations.
Q: Why choose IIM Bangalore executive MBA course?
Q: Are there any exchange programmes in PGP courses at IIM Bangalore?
Students of the two-year PGP in Management have the opportunity to get double degrees by being a part of the Double Degree (DD) programme of IIM Bangalore. During this DD exchange, the selected students study at their home institution in the first academic year and are transferred to the host institution for the second academic year. The institute has collaborated with ESCP Europe Business School (Paris, France), Bocconi University (Milano, Italy) and Hitotsubashi University Business School, School of International Corporate Strategy (Hitotsubashi University, Japan) for the same.
Q: What is the IIM Bangalore PGP course all about?
Post Graduate Programme or PGP offered by IIM Bangalore is a two-year full-time residential course. Candidates pursuing PGP from IIM Bangalore are awarded an MBA degree. The programme lasts for six trimesters, spread over two years, with a summer project inclusive.
The course is offered in two specialisations, namely General and Business Analytics. The duration of the course is spread over six trimesters across two years, with a summer project intermediary.
The PGP students of IIM Bangalore are required to earn a minimum of 45 credits and a maximum of 51 credits in elective courses over three terms in their second year. The electives cover a wide array of topics. Mentioned below is a sample list of the electives offered here:
Social Entrepreneurship
Infrastructure Development
PPPs and Regulation
Business Analytics and Intelligence
Spreadsheet Model-Business Decision
Current Economic Scenario; Indian Economy and Policy Matters for Business
Global Securities Markets, etc.
The conference highlighted the vital role of MSMEs in international trade and underscored the collaborative efforts needed to address challenges and capitalize on opportunities. The research findings and discussions at the event aim to inform strategies that enhance the global competitiveness of India’s handicrafts sector and contribute to sustainable economic growth.
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With an average package of INR 33.07 LPA and an NIRF ranking of 2 for its Management courses, E-MBA from IIMs is considered one of the best choices for working professionals who want to improve their knowledge and education level by pursuing a Management degree. Additionally, IIM Bangalore has seen an improving trend in the average package over the years. In 2022, the average package stood at INR 30.09 LPA and INR 26.08 LPA in 2021.