SME Global Summit looks to foster international SME growth in India

Numerous countries congregated at the fifteenth Confederation of Indian Industry (CII) SME Global Summit that took place in Delhi recently to work on encouraging greater trade with India.

The recent SME business summit in Delhi could see closer links with small businesses from India's neighbours as well as Zambia - Satya Kumar Y- Facebook

The CCI Small and Medium Enterprise (SME) Global Summit took place from December 19 to 20 at the Hyatt Regency in New Delhi. The summit, moderated by the Joint Secretary (SME) at the Ministry of Micro, Small, and Medium Enterprises (MSME), Alka Arora, welcomed delegates from Nepal, Zambia, Bhutan, and Bangladesh.

The aim of the summit was to facilitate mutual recognition agreements between countries to help make trader easier for small businesses. As many textile and fashion business fall under the SME category, stronger bonds between the participating countries could increase international trade in the sector. The summit also addressed challenges such as information flow, product development, and infrastructure challenges.

“We want to make it a friendly neighbourhood,” said the Additional Development Commissioner at the Ministry of MSME, Piyush Srivastava about joining forces with countries close to home.

“The first thing for trade that is very important is the ease of travel. Secondly, there needs to be a set of shared cultural values - a desire to work together with developing countries should exist.”

Chabuka J Kawesha, the Vice President Services for the Zambian Chambers of Commerce and Industry (ZACC), stated that India and the African continent could be linked by SME trade with Zambia.

Bhutan’s Chamber of Commerce and Industry (BCCI) Vice President, Tandin Wangchuk, and Nepal’s President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Dinesh Shrestha, agreed with Kawesha and stressed the importance of SMEs for their country’s economy.

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