New boosts for exporters!
India
Trade promotion bodies in 15 countries
To
promote exports of SMEs from India
Union
Minister of Commerce &Industry and Civil Aviation, Suresh Prabhu, said that
the Ministry is examining the proposal to set up trade promotion bodies in 15
countries to promote exports of SMEs from India. Suresh Prabhu was speaking at
the inaugural session of the 15th Global SME Business Summit in New Delhi.
The
Minister informed the participants of the Summit about the commitment of the
Ministry of Commerce and Industry towards the growth of the SMEs that are the
pivot of the overall economic growth of the country. The Minister spoke about
the changing of trade regimes globally and establishment of new trade routes
based on availability of labour and skill.
Suresh
Prabhu said that Global Value Chains (GVCs) are specifically significant for
SMEs as they provide them the opportunity to contribute to exports without
bearing the setup costs. The concept of trade has been changing where larger
enterprises increasingly rely on outsourcing the manufacturing activities. This
practice has proved quite advantageous to the MSMEs where they can participate
in the exports through manufacturing of intermediate products.
Suresh
Prabhu further stated that the Commerce Ministry is also working on a
comprehensive strategy to boost the MSME sector by granting new patents in
record time. New Intellectual Property regime is being launched to strengthen
the IPRs of Indian MSMEs as well as protecting IPRs of the other countries.
The two-day Summit
has been organized by the Ministry of MSME in partnership with CII. The
inaugural session was also attended by Union Minister of State (I/C) MSME,
Giriraj Singh, Secretary, Ministry of MSME, Dr Arun Kumar Pandaand other senior
officials.
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