IamSMEofIndia launches special initiative to train industries in risk management

Faridabad,17 June, 2024 : IamSMEofIndia has launched a special awareness campaign aimed at promoting risk management within industries. This initiative not only aims to educate industries about various risk factors but also to train them on how to effectively manage these risks in today’s dynamic environment. According to Rajiv Chawla, Chairman of IamSME of India, risk management is now an essential aspect of holistic industrial development, especially in the face of increasing challenges. He emphasizes the need for businesses to safeguard themselves not just against fire, floods, and natural disasters through insurance, but also to be prepared for unforeseen risks that could severely impact their operations. Chawla highlighted the importance of addressing risks related to sales, product quality, material supply, and cyber threats, as well as the critical need for export and continuity funds. He stressed that industries must always be prepared for risk management and take proactive measures to control risks at an early stage. He noted that MSME sectors, often reliant on a single individual or family, can be significantly affected by sudden illnesses or emergencies. Therefore, it’s crucial to ensure that industries have the necessary capital to survive tough times. To this end, IamSMEofIndia has developed a comprehensive action plan and has launched a campaign to raise awareness about risk management. Chawla shared that MSMEs are being educated on how to control and manage risks effectively. IamSMEofIndia has previously undertaken several projects that have provided substantial direct and indirect benefits to industries. Notable among these are the Mission 100 and Plus 5S projects, which have shown constructive results. Additionally, training programs, seminars, and workshops on various subjects have positively impacted the MSME sector. The new risk management campaign is expected to yield significant benefits for the MSME sector. Chawla calls on industry managers to join this initiative and become an integral part of this vital movement.