India Discusses MSME Sector Growth With BRICS Counterparts | SupportBiz

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India Discusses MSME Sector Growth With BRICS Counterparts

 
Delegates from BRICS small and medium enterprises gather in Agra to discuss innovation and technology transfer
Teams representing micro, small and medium enterprises (MSMEs) from the BRICS region gathered at Agra today as part of a government-sponsored Round Table to discuss entrepreneurial challenges and the role of innovation and technology transfer to foster growth in the sector. 
 
The group, comprising delegations from Brazil, China, India, Russia and South Africa, gathered under the aegis of the Ministry of Micro, Small and Medium Enterprises at the second MSME Round Table and a Seminar on Services.  
 
Dammu Ravi, Joint Secretary, Department of Commerce was the moderator of both the MSME Round Table and the Seminar on Services. S.N Tripathi, Additional Secretary and Development Commissioner, MSME was the Chief Guest at the Round Table. 
 
Tripathi highlighted the importance of the MSME sector and how the government had been a facilitator for the sector with a view to encouraging entrepreneurship in order to stimulate manufacturing in line with the flagship schemes of the government namely Make in India and Skill India. 
 
The deliberations were centered around the regulatory framework and institutional structures of MSMEs, the role of MSMEs in innovation, technology transfer and international projects; integration of MSMEs in the global value chains and a possible portal for BRICS MSMEs. 
 
India also provided a brief on the 1st BRICS Trade Fair to be held in October, 2016. The BRICS delegations decided that they would take the discussions and possible cooperation on MSMEs forward. 
 
In the 2nd BRICS Seminar on Services, the issues that were discussed included cooperation on the services statistics in the BRICS region and possible areas of association on trade facilitation in services.