Hyderabad, May 19: Over 300 entrepreneurs, some with an annual turnover of Rs. 100 crore, gathered for a day-long Rifah Business Summit and Networking Meet at Shah Convention on Lakdi ka Pul Road. The event, which took place three days ago, also attracted various small startups and new business entrants.
Organized by the Rifah Chamber of Commerce and Industry (RCCI), the summit aimed to promote business and trade while offering guidance on establishing and expanding businesses. Rifah, founded in 2015 by a group of committed entrepreneurs, focuses on restructuring the economic system.
The success of Rifah’s efforts was evident from the number of participants in the Hyderabad summit, each paying a nominal fee of Rs. 500.
Among the attendees were young entrepreneurs, including a student pursuing an Aalim (Islamic scholar) course, a Hafiz engaged in the oil business, aiming to supply healthy, chemical-free products like groundnut and organic coconut oil. Another participant under 30 expanded from an online furniture business to a large showroom with Rifah’s guidance.
Another young businessman, also an Aalim, completed a 12 km cycle track with a solar-panel roof, valued at Rs. 80 lakhs, through Rifah’s support. A mango businessman, who started with one garden and now owns five, producing 25 varieties of organic mangoes, also benefited from Rifah by eliminating middlemen and directly supplying customers.
An engineer who entered the soft drinks market to meet the demand following Israel’s aggression on Palestine, used Rifah’s network for branding but still faces marketing challenges, receiving professional counselling from Rifah. Similarly, a soap and detergent business owner leveraged Rifah to launch and expand his business in Telangana, offering quality products at half the cost of branded items.
Durrani Enterprises, initially focused on rock salt, transformed into a branded company with Rifah’s guidance. They now present their products attractively and have scaled their business significantly. Additionally, a digital marketing entrepreneur secured numerous projects through Rifah, establishing himself as a seasoned professional.
These programs boost the morale and confidence of entrepreneurs who face setbacks and failures.
Rifah’s central leaders led the main session. General Secretary Mirza Afzal Baig emphasized advancing business beyond basic satisfaction and recognizing the social responsibility to uplift the community and contribute to GDP growth. Mumtaz Mansoori, Karnataka chapter president, highlighted Rifah’s substantial contributions in guiding the business community.
Chairman S. Ameenul Hasan discussed Prophet Muhammad’s ﷺ entrepreneurial journey and stressed the need for economic upliftment of Muslims in Hyderabad and Telangana. He cited the 2011 census, showing Muslims comprise 12.68% of Telangana’s population, with significant percentages living in poor conditions and rented houses. Many Muslim women work in low-paying jobs, and over 900,000 Muslims reside in slums within Hyderabad Urban Agglomeration. These statistics underscore the responsibility of Rifah members to work towards community upliftment.
Mr. Hasan proposed a six-point plan to encourage business as a means to alleviate poverty:
- Raising awareness through community participation, such as khutbas (sermons) and college lectures.
- Conducting short-term and long-term entrepreneurship development programs.
- Building partnerships through networking programs.
- Focusing on capacity building for Rifah members.
- Enhancing finance accessibility by meeting statutory requirements for funding.
- Providing microcredit services through microfinance credit cooperative societies.
Two introductory videos were circulated at the meet, one from Chairman S. Ameenul Hasan and another from Majid Sahab, owner of Pista House in Hyderabad, encouraging participation and reaping benefits from the networking meet.
Sponsors were given the opportunity to introduce their products during the main session and display them at counters, with their logos featured on the stage banner.
