New Delhi, 22nd November 2016: Power2SME, the first ‘Buying Club’ for SMEs in India, appoints former NSIC Chairman cum MD, Dr. H.P. Kumar as Director for External Affairs division. With the aim of making SMEs bankable, Power2SME is working towards creating a global platform for SMEs pan India to help them achieve the twin objective of cost reduction and quality enhancement so that Indian SMEs can become globally competitive. As the company is working to achieve its objective, Dr. Kumar in his new role will guide innovative programmes and framework to enhance Power2SME’s value proposition for SMEs, financial institutes and large suppliers.
His appointment is a strategic move of the company to strengthen its network alliances across industries and sectors. Welcoming Dr. Kumar, Mr. R. Narayan, Founder and CEO, Power2SME said that, “We are delighted to have Mr. Kumar as part of Power2SME team and he will be leading the External Affairs division for Power2ME. We are expanding our presence in India and our priority is to deepen our engagement with the growing number of SMEs, suppliers and other industry players. He brings along immense experience and knowledge of the sector that will help us gain in-depth insights of the industry dynamics, adding more meaning to our initiatives undertaken to achieve the company goals.”
Speaking about his role in the company, Dr. Kumar said,“Power2SME has remained at the fore front to enable growth among SMEs and I appreciate its efforts, and vision to make SMEs bankable. I am happy to join an enthusiastic set of professionals determined to empower SMEs and become a part of India’s growth story. I am committed to take company’s vision forward and utilize my skills to make further inroads into SMEs and supplier network.”
A veteran with over 38 years’ of experience, Dr. Kumar has a deep understanding of SME market and vast experience in promoting international trade relations across a large number of countries, overseas investments, transfer of technologies and handling joint ventures. Under his leadership – NSIC was able to achieve a turnover of Rs. 17,400 crores and became a dividend paying entity with an excellent MOU rating continuously for 7 years, a spectacular shift, from a loss making CPSU prior to his successful tenure.
Dr. H. P. Kumar is a qualified Banker from the Indian Institute of Bankers, a professional Cost and Management Accountant (FCMA) and holds a PhD in Rural Industrialization.
About Power2SME
The first ‘Buying Club’ for SMEs in India, Power2SME, financially backed by Nandan Nilekani, Inventus Capital Partners, Kalaari Capital and Accel Partners, began operations in 2012. Committed to empowering SMEs by increasing their profits, Power2SME focuses on reducing purchase prices for SMEs and enhancing productivity. Power2SME enables SME clients to focus on their core business of driving growth and expansion, while taking on the role of sourcing input raw materials at the most competitive price points across multiple products in categories such as Chemicals, Additives, Inks, Paints, Metals, Polymer Commodity, Polymer Engineering, etc.
Power2SME works with established and trusted suppliers such as SAIL, TATA Steel, ESSAR Steel, Allied Strips, JSW, Rathi Steel, Victor Exim, Balaji Enterprise, POSCO Steel, Apollo Pipes, JSL, and many more
Company website: http://www.power2sme.com/