WUSME at the Horasis Asia Meeting in Vietnam

BINH DUONG NEW CITY (VIETNAM) – On 25 and 26 November, 2018, WUSME participated in the Horasis Asia Meeting held at in Binh Duong New City, in Vietnam. WUSME Vice President in India Dr. Joginder Singh Juneja was present as speaker for the second year. During the 2017 edition held in Bangkok, he addressed the theme “Challenges & Opportunities of Digitization for SMEs – Asian perspective”, while in the 2018 edition, his speech was on ” Re-igniting Micro-entrepreneurship”.

“In India – he said- 20% of the population is still below the poverty and hence poverty alleviation is a challenge for the Policy Makers and the institutions. In this context, SHGs have played a very crucial role in India, we have over 2.3 million SHGs with membership of over 35 million people. Women are the main beneficiaries of SHGs constituting 91% of the SHGs in India”.

“SHGs –he added- have been an excellent success story particularly motivating women in rural areas to set up their micro enterprises and many have grown to small business women. SHGs have been a wave to empower women by setting up micro businesses and self-employment. Carrying out motivational intensive campaign will motivate hundreds of young men and women to setup startup industries.  Also, Innovation is the key for success and important ingredient for entrepreneurship for their growth and meet with the global challenges”.

Definition of Self Help Groups

“SHGs are small economical homogenous affinity groups of rural poor, voluntarily formed to save and mutually contribute a common fund to be lent to its members as per group decision” (Source: NABARD)