New Delhi, Aug 13 (UNI) India and the US on Tuesday signed a landmark MoU for cooperation in the MSMEs sector, to enable MSMEs of the two countries to participate in global markets, foster trade and drive innovation.
In a post, the MEA spokesperson Randhir Jaiswal posted:
“Joining hands to promote cooperation in MSMEs.
“Today, India-US signed a landmark MoU that enables MSMEs of the two countries to participate in global markets, drive innovation, foster trade, and support women entrepreneurs.”
The agreement was inked in New Delhi by S. C. L Das, Secretary, Ministry of Micro, Small and Medium Enterprises, Government of India, and Isabel Casillas Guzman, Administrator, Small Business Administration (SBA), Government of the United States of America, in keeping with the direction given by the Leaders of the two countries in the India-US Joint Statement of June 2023.
The Memorandum of Understanding for promoting Cooperation on Small and Medium-size Enterprises provides a framework for both sides to discuss issues concerning micro, small and medium enterprises (MSMEs) and explore possibilities of cooperation.
It envisages the exchange of expertise between the two sides on issues related to improving MSME participation in the global marketplace through mutual visits as well as webinars and workshops on topics including access to trade and export finance; technology and digital trade; green economy; and trade facilitation.
It also provides for the joint conduct of programmes for women entrepreneurs to empower them and facilitate trade partnership between women-owned small businesses of the two countries, according to information.
Recognizing the crucial role that MSMEs play in advancing inclusive growth, expanding exports, and boosting employment, the two sides also agreed to explore the development of a “Business Matching Digital Platform” to boost business opportunities.
UNI RN