MSME ministry to hold global SME convention this month

The first-ever international SME convention will be organised here later this month where 150 participants from 31 countries and 400 entrepreneurs from India will participate, the MSME ministry said.

The Convention will be held from April 22-24, with a specific focus on inclusion of MSMEs in the Make in India programme and empowering women entrepreneurs.

"The Ministry of MSME has engaged with over 35 International Trade Development organisations to attract and invite able and willing entrepreneurs and encourage people to people contact with select Indian entrepreneurs from key sectors of the international counterparts," an official statement said.

The Ministry of MSME recognises the potential of sustainable Indian small and medium enterprises in collaborating with international firms for setting up manufacturing operations in India and also for utilizing the reach and market access of International Counterparts for promoting and exporting Made in India products and services, it added.

"The need was felt to create a platform which could allow entrepreneurto entrepreneur exchange of ideas, free and fair business discussions, mutual sizing of opportunities and ways to address them," the statement said.

India is home to more than 60 million MSMEs, majority of who are in low-tech areas and serve the local domestic markets. Of these, a small percentage, have the ability and capability to derive access to international markets, with the vast majority of enterprises working as ancillaries.

Together the MSMEs constitute a single largest employer after the agriculture sector in the country. Highly developed economies have banked on their small and medium enterprises for both GDP growth as well as higher employment resulting in higher per capita incomes.