India's Ministry of Micro, Small, and Medium Enterprises (MSME) and the US Small Business Administration have signed a Memorandum of Understanding to enhance cooperation in the MSMEs sector. The agreement includes knowledge exchange, support for women entrepreneurs, and the development of a digital platform to boost business opportunities. The collaboration aims to promote inclusive growth, expand exports, and increase employment.
The MoU has been signed between Shri S. C. L Das, Secretary of MSME, Government of India, and Ms. Isabel Casillas Guzman, Administrator, SBA, Government of the USA in the direction of the Leaders of the two countries in the India-US Joint Statement. The MoU aims to enhance cooperation between the two countries on MSMEs and trade facilitation. It includes the exchange of expertise on trade finance, technology, green economy, and trade facilitation. The MoU also includes programs for women entrepreneurs and the development of a "Business Matching Digital Platform".
The agreement will further focus on training programs, workshops, and seminars to improve business management, marketing, financial literacy, and technological adoption. The MoU will also promote innovation among MSMEs, focusing on advanced technologies like artificial intelligence and digital platforms. The MoU will also explore market access and trade promotion, focusing on women and minority-owned businesses. The MoU will also focus on regulatory cooperation, aiming to make regulatory frameworks more transparent and navigable for small businesses.
