MSMEs in Uttar Pradesh seek trade partners in Africa, Latin America

Following the 50 per cent tariff imposed by the US administration on most Indian goods, including textiles, jewellery and leather goods, micro, small and medium enterprises (MSME) in Uttar Pradesh are seeking trade and investment partners in other regions, including Asia, Africa, and Latin America.

 

The UP MSMEs are exploring business and trade alliances with companies and investors in countries, including Russia, Cuba, Venezuela, Mongolia, Vietnam, Fiji, Sri Lanka, Mauritius, Surinam, Guyana and Nepal, among others.

 

Taking the agenda forward, MSME chamber Indian Industries Association (IIA) is organising mega international-grade trade and business fairs to foster Business-to-Business (B2B) alliances and insulate against the US tariffs.

 

The Indian Industries Association (IIA) will host  International Tourism & Hospitality Expo (ITH Expo 2025) in Varanasi from December 18 to19.

 

“Such expos provide the MSMEs with the much needed exposure to modern technologies, industry trends, and international collaborations. These platforms nudge us to enhance our capacities, improve efficiency and compete globally,” IIA National President Dinesh Goyal said. 

 

IIA General Secretary Deepak K Bajaj said that dignitaries from more than 10 countries, apart from global trade delegations will attend the Varanasi expo next month, which will position the ancient city as a tourism and investment hub before global investors.

 

By hosting these international-grade trade and business fairs, the state aims to increase its share in India's export basket from less than 5 per cent to 7.5 per cent, furthering the state government’s $one trillion economy goal.

 

The US was UP’s top export destination, accounting for nearly ₹ 35,000 crore worth of shipments in the financial year 2024-25, followed by the United Kingdom (UK), Germany, Nepal, Australia, France, and  Netherlands.

 

In 2024-25, UP clocked MSMEs exports worth more than ₹1.70 trillion, while the Yogi Adityanath government is now targeting exports to touch ₹5 trillion by 2030 with the help of industrial clusters.

 

Chetan Dieo Bhalla, IFX chairman, said IIA is steadfastly facilitating the MSMEs to leverage the vast trade and business opportunities by offering a unified platform.

 

UP is famous for an array of traditional and artisan-based economy such as Varanasi for Banarasi silk sari, Bhadohi (carpet), Lucknow (chikan), Kanpur (leather goods), Agra (leather footwear), Aligarh (lock), Moradabad (brassware), Meerut (sports goods) and Saharanpur (wooden products).