RAI signs MoU with FaMeTN to boost Tamil Nadu retail
08 Aug 23 2 min read
Insights
- The Retailers Association of India (RAI) has signed an MoU with the FaMeTN.
- The partnership aims to develop retail policy in Tamil Nadu and will focus on collaboration to support the retail industry and MSMEs.
- The agreement is seen as a vital step towards growth, competitiveness, and sustainability, with 90 per cent of retailers being MSMEs.
RAI will facilitate important discussions between FaMeTN and member retail MSMEs, helping to understand their needs regarding skill development, branding and marketing, capital, compliance, and more, RAI said in a press release.
Grace Lalrindiki Pachuau, IAS, additional commissioner, ICDIC and executive director, FaMeTN, said: “FaMeTN is committed to empowering MSMEs in Tamil Nadu, as they form the backbone of our economy. This MoU with RAI is a substantial step towards streamlining the process of understanding and addressing the varied needs of our MSMEs.
“Our partnership will enhance collaboration, create valuable dialogues, and most importantly, build capacity within the sector. We are enthusiastic about this alliance as we join hands to further promote the growth, competitiveness, and sustainability of MSMEs in Tamil Nadu.”
“MSMEs are the backbone of retail. With the collaborative agreement between FaMeTN and RAI paving the way, the state’s MSME landscape is set to flourish. In this dynamic ecosystem, it’s crucial to remember that a staggering 90 per cent of retailers are MSMEs that drive the industry forward. Let’s not forget, the larger retailers’ support for MSME suppliers completes this symbiotic cycle of retail success,” said Kumar Rajagopalan, CEO, RAI.
RAI is committed to furthering the market access of MSMEs, facilitating training and capacity building for retail MSMEs, and promoting communication and information exchange on the initiatives of FaMeTN among its member retail MSMEs.
On the other hand, FaMeTN will offer robust support to the initiatives, coordinating staff participation, nominating senior officers for areas highlighted in the MoU, and facilitating interactions with key local stakeholders.
The FaMeTN’s comprehensive approach includes exploring overseas markets, streamlining government clearances, and offering innovative solutions for technological, financial, and management issues, thereby fostering robust growth for MSMEs.
Fibre2Fashion News Desk (NB)
Popular News
|
India’s leading textile firms report mixed performance in FY24 |
|
Limited trade in cotton yarn as north India awaits poll outcomes |
|
International demand keeps Brazilian cotton prices stable |
|
Intertextile & Yarn Expo Shenzhen to showcase eco-friendly innovations |
|
AAFA, NCTO request PPE clarification for H 7356A in Rhode Island state |
|
Indian textile industry urges immediate reforms as Modi eyes 3rd term |