India, US to Share Expertise on MSME Growth

Shri S. C. L Das, Secretary, Ministry of Micro, Small and Medium Enterprises, Government of India and Ms. Isabel Casillas Guzman, Administrator, Small Business Administration (SBA), Government of the United States of America, in keeping with the direction given by the Leaders of the two countries in the India-US Joint Statement of June 2023, signed a Memorandum of Understanding for promoting Cooperation on Small and Medium-size Enterprises on 13^th August 2024 in New Delhi.

The MoU provides a framework for both sides to discuss issues concerning micro, small and medium enterprises (MSMEs) and explore possibilities of cooperation. It envisages the exchange of expertise between the two sides on issues related to improving MSME participation in the global marketplace through mutual visits as well as webinars and workshops on topics including access to trade and export finance; technology and digital trade; green economy; and trade facilitation. It also provides for the joint conduct of programmes for women entrepreneurs to empower them and facilitate trade partnership between women-owned small businesses of the two countries.

Recognizing the crucial role that MSMEs play in advancing inclusive growth, expanding exports, and boosting employment, the two sides also agreed to explore the development of a “Business Matching Digital Platform” to boost business opportunities.