Supply Chain Finance Gaining Traction in APAC Region
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2 November 2011Prathima Rajan
Small and Medium Enterprises (SMEs) play a major role in economic development. In developing economies, they account for 49 percent of formal manufacturing employment and contribute nearly 29 percent to GDP. In Asia Pacific region several countries including India is a home for millions of SMEs. The fundamental transformation in the last decade and the latest financial crisis has seen two major trends.
- Emergence of thousands of importers and exporters (SMEs) from the private sector adding impetus to the existing trade.
- Limited availability of funds associated with high costs has badly affected the enterprises, especially SMEs.