India to set up Digital Trade Desk for SME collaboration

26 Apr '18
2 min read
MSME secretary Arun Kumar Panda presenting
MSME secretary Arun Kumar Panda presenting 'friend of India' plaque to a delegate from Malawi at the first International SME Convention. Courtesy: PIB

India’s ministry of micro, small and medium enterprises (MSMEs) has planned to set up a Digital Trade Desk aimed at furthering more collaborations between SMEs of India and other countries and for exchange of data. This was disclosed by MSME secretary Arun Kumar Panda during the valedictory function of the first International SME Convention.

Around 160 SMEs from 39 countries participated in the first International SME Convention, organised by MSME ministry. The three-day event discussed issues of international best practices on SME development and cooperation, global business opportunities for SMEs, and problems faced by women entrepreneurs.

Poland, with 15 SMEs, had the largest delegation, followed by Uzbekistan with 8 SMEs and Ghana with seven. Four hundred SMEs from India also participated in the event which saw signing of 23 agreements between SMEs of India and SMEs of UK, Russia, Uzbekistan, Poland, Bhutan, Austria, Czech Republic, Cameroon and Sri Lanka. The agreements pertain to 12 sectors including textiles.

In addition, four foreign SMEs signed expression of interest for entering into joint ventures with Government of India.

Going by the success of the event, the ministry of MSME is now planning to make the Convention an annual feature. Nearly 80 countries have already expressed interest to participate in the next Convention. (RKS)

Fibre2Fashion News Desk – India

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