The partnership is set to commence from 29th April 2022
New Delhi, May 04, 2022: MSMEs are critical drivers to the sustenance of the Indian growth story, and workforce welfare is a crucial lever for the same. With rising health issues in the wake of the pandemic, the demand for health assurances among MSMEs has witnessed a spike.
To address this requirement, MSME forum joins hands with Practo, India’s leading integrated healthcare company to offer its unique and affordable holistic healthcare solution – ‘Total Protect’ to the MSME community. This partnership aims to deliver end to end corporate health and wellness solutions to associated MSMEs, their employees and families with a mission to build a healthier and more productive workplace.
The MSME sector employs an estimated 11 crore people in India. And according to IRDAI, only 5% of the 6.3 crore MSME businesses offer healthcare benefits to their employees. This leaves a massive gap in healthcare benefits for a relatively large size of India’s population. Health and wellness is an important factor to productivity and efficiency. And for the MSME sector to thrive, the workforce is going to be an integral part of its growth story. Hence, ‘Total Protect’ is carefully curated, aligning with needs of the sector.
Commenting on the Partnership, Shri Ravi Nandan Sinha, Director of Development, MSME Business Forum India, said, “MSMEs today are willing to grow. They are in deep need of subject matter expert’s interventions. At the MSME business forum, we are enabling the growth of MSMEs by giving them immense support. The partnership with Practo humbles us. We hope our members and alliances ecosystem can use the program for their benefit, experience and realise the need for a health cover.”
Talking about the offering, Shikha Saxena, Chief Business Officer, Corporate – Practo, said “We at Practo have been committed to make quality healthcare affordable and accessible for over a billion+ Indians, and the MSME community is a critical part of this vision. While navigating through the pandemic, employers across the world have acknowledged the need for a holistic healthcare plan. And with our experience in the industry we will be able to provide customized solutions that are designed for the changing times.”
MSME Business Forum and its partners and alliances ecosystem reach over 0.5 million MSMEs units. With this event and its outreach, it will reach out to over 35% of the MSME community. Noted ambassadors, dignitaries and subject matter experts across industries participated at the event. Deep insights, supporting policies, and growth strategies discussions hailed at the recently concluded MSME Business Conclave 2022.