UK-based business group to offer training to India's micro, small enterprises

A British organisation which works to improve the professional competence of business leaders will offer training to India's micro and small enterprises on best practices in corporate governance.

The Institute of Directors (IOD) will sign a memorandum of understanding (MoU) with the Ministry of Micro, Small and Medium Enterprises (MSMEs).

"We are going to have the corporate governance training programme for small and micro sectors so that they can learn the best practices in corporate governance," IOD Vice President Pradeep Chaturvedi said on Wednesday.

Speaking at the 'Singapore Global Convention 2018 on Risk and Ethics', he said the focus will be on training micro and small companies while medium size enterprises do get international training on the strength of their own businesses.

This is in line with the Indian government's programme to promote MSMEs by building management capacities.

"Secondly, we will invite the micro and small enterprises to IOD's international conferences for exposure to global business," said Chaturvedi.

Micro and small enterprises would gain from exposure to international businesses with opportunities to become ancillaries or secure orders from large corporations, he explained.

The IOD will also promote and propagate the government's programmes for MSMEs through its in-house publications and e-publications.

As part of its Indian business promotion, the IOD gave 'Golden Peacock Awards' to 20 companies on Wednesday in three categories - ethics, risk management and innovation management.

The awards are based on the latest international practices and judged by a panel chaired by a retired Chief Justice of India or Judge of the Supreme Court.

The selection process is "very rigid" for these awards, which puts the winning companies on the international markets, Chaturvedi added.