Godrej Capital Nirmaan enhances its offering; partners with DBS Bank India, Visa, and Amazon to aid MSME growth

• Godrej Capital bets bigger on its business solution platform, Nirmaan, and onboards marquee partners.
• 13 esteemed partners have been onboarded to offer business solutions with added benefits to MSMEs pan-India.
• Amazon to provide Nirmaan users with an opportunity to showcase and sell their products to customers across India and the world, get access to solutions for website creation, omni-channel order management, and more.
• DBS Bank India to introduce customized current accounts with special features for Nirmaan users.
• Visa to facilitate DBS-Nirmaan-led simplified banking initiatives.

MUMBAI, India, Dec. 7, 2023 /PRNewswire/ -- Over the last decade, significant strides have been made in reducing the credit gap for small businesses in India. However, securing credit is only one of the many challenges faced. It's a long list, but growing sales amidst intense competition, efficient cash flow management, scarcity of skilled manpower, the uphill task of an ever-changing technology landscape, and grappling with legal and compliance norms due to limited resources and know-how are right up there along with timely credit at good terms.

Amidst this backdrop, the Godrej Group, with a rich history of over 125 years in Indian business, stands poised to tackle these challenges. Rooted in the ethos of 'nation-building' and fortified by the trust of Indian consumers in the brand Godrej, Godrej Capital is betting bigger on its Nirmaan platform by significantly expanding its collaborative network. Partnerships with industry stalwarts such as DBS Bank India, Visa, Amazon, and others underscore Godrej Capital's commitment to providing growth opportunities for MSME owners. These collaborations are designed to empower MSMEs, offering a diverse array of value-added services and comprehensive support throughout their business journey. In a testament to its commitment, Nirmaan has expanded its collaborative model to include 13+ partners, aligning with a vision to actively contribute to the growth of MSMEs in the dynamic landscape of the Indian financial services sector.

The platform aims to foster growth revolving around three critical areas for MSMEs:

• Expansion of customer base
• Streamlining of operations
• Enhancement of employee productivity

Speaking about the partnership, Manish Shah, MD & CEO at Godrej Capital, said, "We are delighted to expand our partner ecosystem, reinforcing our commitment to help MSMEs grow, through Nirmaan. We aim to be catalysts and help MSMEs beyond lending by being a part of their business growth journey. Aligned with the Godrej Group's nation-building ethos, we see ourselves as enablers and we firmly believe that, with the collective commitment and services provided by our partners, we can make a difference and contribute towards making India a 5 trillion-dollar economy."

This partnership will enable DBS Bank India to offer MSMEs access to a comprehensive suite of value-added services, featuring a customised current account. Businesses registered with Nirmaan can enjoy exclusive benefits that go beyond the regular suite of offerings such as - a 1-year waiver on Minimum Average Quarterly Balance non-maintenance fees, seamless integration with Tally ERP for connected banking, highly competitive trade and FX pricing, the convenience of a Business Debit Card powered by Visa, and exclusive partner offers, providing holistic financial support for MSMEs.

Commenting on the partnership, Rajat Verma, MD and Head Institutional Banking Group, DBS Bank India, said, "Leveraging our local market insights and deep understanding of business realities, DBS Bank India has created an innovative offering with Godrej Capital Nirmaan. We have designed an exclusive set of benefits for MSMEs on Nirmaan that will help free-up cash flows through special fee-waivers on the current account variant, along with a host of partner offers to enhance business agility. The partnership underlines our commitment to empowering MSMEs across India to unlock their growth aspirations."

Visa, a global leader in digital payments, will provide comprehensive payment solutions for MSMEs through the Nirmaan platform. Its extensive network and global acceptance will also support DBS Bank India's specially curated offerings for Nirmaan users.

Sujai Raina, Vice President and Head – Business Development, India, Visa said, "We are delighted to collaborate with Godrej Capital Nirmaan and DBS Bank India to offer comprehensive payment services to small businesses in India. MSMEs are vital to the socio-economic and inclusive growth of the country, and Visa helps them unlock opportunities and value with its solutions. We are facilitating the DBS Current Account with a Business Debit Card offering specially curated for Nirmaan users, that allows MSMEs to make payments seamlessly, thus enabling them to drive business priorities and growth imperatives".

Amazon's partnership with Nirmaan will help MSMEs showcase and sell their products to customers across India by listing them on Amazon.in. It will additionally help open the door to global markets, with a three-month subscription to Amazon's e-commerce exports program called Amazon Global Selling. Nirmaan users will also be able to get free-of-cost access to website creation and omni-channel inventory management solutions from Smart Commerce by Amazon until March 2024.

Speaking on the partnership, Gaurav Bhatnagar, Head - Seller Acquisition at Amazon India said, "Amazon is deeply committed to forging partnerships with MSMEs to address the ever-evolving customer landscape, with a focus on our three fundamental pillars: selection, value, and convenience. Through our collaboration with Godrej Capital Nirmaan, we aim to bring the benefits of digitization and e-commerce closer to MSMEs. They will be able to leverage Amazon to showcase and sell their products to customers across India and capitalize on export opportunities. They will also be able to digitize their day-to-day operations through omni-channel inventory management solutions. We believe that such collaborations will help MSMEs serve their customers with unparalleled dedication and grow their business excellence."

In addition to the existing partners Onsurity, Zolvit and MSMEx, the new partners - GeM Tech Paras, Escrowpay, GreytHR, and Serapis Knowledge Solutions - will provide MSMEs with access to a wider range of solutions to help them grow their businesses.

Focusing on overall value creation through ecosystem development and partnerships, Godrej Capital Nirmaan aims to contribute towards the entrepreneurial and socio-economic development of the MSME sector in India, ultimately contributing to the growth of the economy and nation-building. The platform goes beyond lending offerings and provides value-added services encompassing business growth opportunities, ease of business, and knowledge and network avenues.

About Godrej Capital:

Godrej Capital is the financial services arm of the Godrej Group. It is a subsidiary of Godrej Industries and is the holding company for Godrej Housing Finance & Godrej Finance. With a digital-first approach and a keen focus on customer-centric product innovation, Godrej Capital offers home loans, Loans Against Property, and business loans. It is positioned to diversify into other customer segments and products. The company is focused on building a long-term, sustainable retail financial services business in India, anchored on the Godrej Group's 126-year legacy of trust and excellence. Godrej Capital focuses on learning and development across its employee base and is committed to diversity, equity, and inclusion as a guiding principle. Its entity, GHF, is Great Place to Work® Certified and was recognized by the Economic Times as the Best Organization for Women in 2022.

Godrej Capital currently has its footprint across Mumbai, Bangalore, Delhi, Pune, Ahmedabad, Surat, Indore, Chennai, Hyderabad, Jaipur, Chandigarh, Alwar, Aurangabad, Baroda, Coimbatore, Jalandhar, Jodhpur, Kanchipuram, Mangalore, Salem, Ludhiana, Mysore, Nagpur, Nashik, Rajkot, Udaipur, Vapi, Vijayawada, Rangareddy, Vishakhapatnam, and Thane.

About Godrej Capital Nirmaan: 

Godrej Capital Nirmaan, a first of its kind in the BFSI industry, is a digital platform that is set to empower Micro, Small, and Medium Enterprises (MSMEs) for sustainable growth. With its innovative approach, comprehensive partner offerings, and its esteemed partners, Nirmaan aims to transform the landscape of MSMEs, providing them with the tools and resources needed to thrive in today's competitive business environment. Nirmaan has collaborated with Amazon, DBS Bank India, MSMEx, GreytHR, Serapiz, Escrowpay, Gem Tech Paras, Zolvit, and Onsurity among others. Through expert advising, efficient facilitation, and innovative financing solutions, Nirmaan aims to elevate MSMEs to new heights of growth and success. Carefully curated, Nirmaan with its partners provides services critical to the growth of MSMEs. The partners facilitated on Nirmaan platform engage with users through their own bespoke terms. For more details visit www.godrejcapitalnirmaan.com

To partner with Godrej Capital Nirmaan, write a mail to [email protected]

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