India Establishes MSME-Industry International Cooperation Forum To Strengthen Global Ties

2025-01-24 02:07:52

(MENAFN- KNN India) New Delhi, Jan 24 (KNN) In a significant step toward bolstering India's small and medium enterprise (SME) sector on the global stage, the Ministry of Micro, Small, and Medium Enterprises (MSME) has established the MSME-Industry International Cooperation Forum.

An official order issued on January 21, 2025, detailed the Forum's objectives and composition.

The initiative aims to create a collective platform of industry bodies to facilitate international collaboration for the government's MSME-related efforts.

The Forum will exchange insights on bilateral and multilateral economic and technical cooperation, analyse opportunities and challenges across sectors and regions, and propose strategies to boost the competitiveness of Indian MSMEs.

The Forum's membership includes prominent organizations such as the Confederation of Indian Industry (CII), the Federation of Indian Chambers of Commerce & Industry (FICCI), and the Federation of Indian Micro and Small & Medium Enterprises (FISME), alongside other regional MSME bodies.

This development reflects the growing global recognition of SMEs in trade agreements and policy frameworks. Key international agreements, such as the India-UAE Comprehensive Economic Partnership Agreement (CEPA), now feature dedicated chapters on SMEs.

Similarly, the World Trade Organisation (WTO) Ministerial Declarations and G20 discussions routinely include clauses focusing on this vital segment.

The newly constituted Forum is expected to enhance the Ministry of MSME's ability to craft informed agendas and push for policies tailored to the sector's needs.

By leveraging the expertise of industry bodies, the Forum will help Indian MSMEs navigate international markets, seize emerging opportunities, and address challenges, thereby strengthening their role in global trade and economic growth.

This move underscores the government's commitment to empowering MSMEs, which form the backbone of India's economy, with the tools and support needed to thrive in an increasingly interconnected world.

(KNN Bureau)

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