Ministry of MSME, Small Business Administration, USA Govt Ink MoU

Secretary, Ministry of Micro, Small and Medium Enterprises, Government of India, S C L Das, and Isabel Casillas Guzman, Administrator, Small Business Administration (SBA), Government of the United States of America, signed a Memorandum of Understanding (MoU) for promoting cooperation in Small and Medium-size Enterprises.

The pact was inked in keeping with the direction given by the leaders of the two countries in the India-US Joint Statement of June 2023. 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 an 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 partnerships between women-owned small businesses of the two countries.

Recognising 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, according to an official release.