FISME Nominated To SME Committee Under India-UAE CEPA

(MENAFN- KNN India) New Delhi, Aug 13 (KNN) The Federation of Indian Micro and Small & Medium Enterprises (FISME) has been officially nominated as a representative on the India-UAE SME Committee, established under the Comprehensive Economic Partnership Agreement (CEPA) between the government of India and the Government of the United Arab Emirates (UAE).

The India-UAE CEPA, which came into force with an aim to boost trade and investment between the two countries, includes a dedicated chapter (Chapter 13) focused on Micro, Small, and Medium Enterprises (SMEs).

Article 13.4 of the CEPA mandates the creation of an SME Committee, tasked with identifying and promoting commercial opportunities for SMEs in both India and the UAE.

The Ministry of Micro, Small, and Medium Enterprises (MSME) in India has outlined the composition of the Indian side of this Joint SME Committee, which includes high-ranking officials from various divisions of the Office of the Development Commissioner (MSME), the National Small Industries Corporation (NSIC), and key industry associations.

Notably, FISME, alongside the Associated Chambers of Commerce and Industry of India (ASSOCHAM), has been selected to represent the interests of Indian SMEs in the inaugural meeting of this committee.

FISME's participation is crucial as the organisation will provide insights into the challenges and opportunities for Indian SMEs in the UAE market.

The second meeting of the Joint Working Group under the CEPA is expected soon, where FISME will contribute to shaping strategies to maximize benefits for SMEs.

Ahead of this meeting, FISME has been invited to submit issues and suggestions related to SME trade between India and the UAE.

As the Indian side gears up for the upcoming Joint Working Group meeting, the participation of FISME is expected to bring a wealth of experience and insight into the discussions.

The organisation's extensive network and deep understanding of the SME landscape in India will be invaluable in ensuring that the outcomes of the CEPA are both inclusive and impactful for small businesses.

The establishment of the SME Committee under the CEPA is seen as a forward-looking initiative that will not only enhance trade between India and the UAE but also foster innovation, entrepreneurship, and economic resilience in both nations.

(KNN Bureau)

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