India home to 60 million MSMEs

Kotawice, Oct 19 (IEBusiness) India is home to more than 60 million MSMEs, which have the ability and capability to access international markets and work as ancillaries to larger international firms.

“These MSMEs provide livelihood to more than 100 million people and create value for the entire global community”, said Joint Secretary Alka Arora, Ministry of MSME after inaugurating the eighth European Congress on SMEs at Kotawice in Poland, UNI news agency reported.

Arora said given the impact of MSMEs in India, it was imperative to integrate them now into the global value chain by establishing possible linkages with International partners.

Inaugurating the event, Arora, who led a delegation of 32 Indian SMEs, said in order to fructify the opportunities for Indian SMEs, the Congress will be an opportunity to make direct business relations between European and Indian SMEs.

Small and Medium Enterprises from around 50 countries are participating in the three-day event, which will continue till October 19.

The main theme of the event is “Business-Self-Government Together for Economy”. The organisers have allotted a special session of one and a half hour for discussion about trade and business opportunities with India and Indian SMEs.

The visiting Indian delegation is also expected to showcase Indian products and services at the Expo in the Indian Pavilion, according to an official statement here.

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