Global Strategic Alliance for SMEs in India and USA
Shri Uday Kumar Varma, Secretary, Ministry of Micro, Small and Medium Enterprises delivered a key note address at the conference on Growth in Emerging Metropolitan Sector today in Pune. This is the first time that micro, small and medium sector has been put on the agenda of such high level conference. This conference, an Initiative of International Trade Administration of USA was attended by Mr. Francisco Sanchez, the Under Secretary, International Trade Administration of USA.
The Secretary in his address emphasized, on the important role being played by MSEs, and the setting up of a Task Force on the MSME Sector by the Prime Minister, which gave landmark recommendations for the sustainable growth of this sector in India. The importance of this sector can be gauged from the fact that the implementation of these recommendations is being done directly by the Prime Minister. The recommendations included road map for Credit, Marketing, Labour, Rehabilitation & Exit Policy, Infrastructure, Technology & Skill Development and Taxation in the development of MSME sector. He also stressed on the MSEs role in reviving USA’s economy as it creates employment, wealth and equitable growth.
The Secretary expressed his desire to forge long term bilateral relationship with USA in the MSME sector with the objective to share information, knowledge and expertise on the best practices prevailing in the two countries. He hoped to build partnership for sourcing products and to build value chains for entering global markets. Shri Varma stated that MSMEs is an integral part of the emerging metropolitan sector and growth of metropolitan sector depends upon the growth of MSME sector and vice a versa. He lauded the efforts of US Government in pursuing effective procurement policy which includes reservation for women entrepreneurs. He informed the gathering that Ministry of MSME is in the midst of formulating similar procurement policy for Indian MSMEs.
In order to have a better synergy between the MSMEs of the two countries, Shri Varma expressed the need to have following institutional mechanism :
to Create an additional focus group for the S M E sector under US-India Trade Policy Forum for SMEs.
to create a CEO forum for SMEs with, say, 20 representatives from US side and 20 from Indian side.
to create Institutional mechanisms , specifically for this SECTOR, appropriately anchored , in both Governments and appropriate Trade Bodies on both the sides to facilitate Delegation exchange, Technology and Expertise exchange, Information exchange etc. If such a mechanism has already been created and exists, then its structure and mandate should be given a relook to appropriately and adequately associate this sector.
In addition to the above, Shri Varma informed that Ministry of MSME had an agreement with US Small Business Administration (US SBA) for the cooperation in the MSME sector. However, the Letter of Intent (LoI), which was signed between the two organizations, has expired. It would be in the interest of the two countries to revive and operationalize the same.
Shri Varma emphasised the need to have cooperation in the areas of Information & Communication Technologies, Biotechnology & Nanotechnology, Defence & Homeland Security, Healthcare, Processed Food, Education/Skill Training, Clean Technologies/Renewable Energy etc. Further, he stated that both the countries can take steps in maintaining and enriching ecological systems of the Tier 2 cities.
Mr. Ron Kirk, US Trade Representative has taken a strategic step in putting MSEs of both the countries in the agenda of US India Business Council (USIBC), an important trade body for India and US business interest.
Shri Uday Kumar Varma, Secretary, Ministry of Micro, Small and Medium Enterprises delivered a key note address at the conference on Growth in Emerging Metropolitan Sector today in Pune. This is the first time that micro, small and medium sector has been put on the agenda of such high level conference. This conference, an Initiative of International Trade Administration of USA was attended by Mr. Francisco Sanchez, the Under Secretary, International Trade Administration of USA.
The Secretary in his address emphasized, on the important role being played by MSEs, and the setting up of a Task Force on the MSME Sector by the Prime Minister, which gave landmark recommendations for the sustainable growth of this sector in India. The importance of this sector can be gauged from the fact that the implementation of these recommendations is being done directly by the Prime Minister. The recommendations included road map for Credit, Marketing, Labour, Rehabilitation & Exit Policy, Infrastructure, Technology & Skill Development and Taxation in the development of MSME sector. He also stressed on the MSEs role in reviving USA’s economy as it creates employment, wealth and equitable growth.
The Secretary expressed his desire to forge long term bilateral relationship with USA in the MSME sector with the objective to share information, knowledge and expertise on the best practices prevailing in the two countries. He hoped to build partnership for sourcing products and to build value chains for entering global markets. Shri Varma stated that MSMEs is an integral part of the emerging metropolitan sector and growth of metropolitan sector depends upon the growth of MSME sector and vice a versa. He lauded the efforts of US Government in pursuing effective procurement policy which includes reservation for women entrepreneurs. He informed the gathering that Ministry of MSME is in the midst of formulating similar procurement policy for Indian MSMEs.
In order to have a better synergy between the MSMEs of the two countries, Shri Varma expressed the need to have following institutional mechanism :
to Create an additional focus group for the S M E sector under US-India Trade Policy Forum for SMEs.
to create a CEO forum for SMEs with, say, 20 representatives from US side and 20 from Indian side.
to create Institutional mechanisms , specifically for this SECTOR, appropriately anchored , in both Governments and appropriate Trade Bodies on both the sides to facilitate Delegation exchange, Technology and Expertise exchange, Information exchange etc. If such a mechanism has already been created and exists, then its structure and mandate should be given a relook to appropriately and adequately associate this sector.
In addition to the above, Shri Varma informed that Ministry of MSME had an agreement with US Small Business Administration (US SBA) for the cooperation in the MSME sector. However, the Letter of Intent (LoI), which was signed between the two organizations, has expired. It would be in the interest of the two countries to revive and operationalize the same.
Shri Varma emphasised the need to have cooperation in the areas of Information & Communication Technologies, Biotechnology & Nanotechnology, Defence & Homeland Security, Healthcare, Processed Food, Education/Skill Training, Clean Technologies/Renewable Energy etc. Further, he stated that both the countries can take steps in maintaining and enriching ecological systems of the Tier 2 cities.
Mr. Ron Kirk, US Trade Representative has taken a strategic step in putting MSEs of both the countries in the agenda of US India Business Council (USIBC), an important trade body for India and US business interest.
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