International SME Convention-2018
In news: First Ever International SME Convention-2018 is being held in New Delhi. 150 participants from 31 countries and 400 entrepreneurs from India participated in the convention. The convention has specific focus on inclusion of MSMEs in the Make in India program & empowering women entrepreneurs.
Key facts:
- Organizers: The SME International Convention – 2018 is being organised by the Ministry of MSME and National Small Industries Corporation (NSIC) along with KVIC and Coir Board.
- Theme: “Business beyond Borders”.
About SME Convention:
The International SME Convention 2018 is a platform for intensive business discussion, progressive interaction and trade association between progressive entrepreneurs from all over the world and offers a special focus on business and trade opportunities in India for International Entrepreneurs.
The platform facilitates exchange of relevant business partnerships and trade opportunities for India’s Best Small and Medium Enterprises.
Significance of MSMEs:
India is home to more than 60 million MSMEs, majority of who are in low-tech areas and serve the local domestic markets. Of these, a small percentage, have the ability and capability to derive access to International Markets, with the vast majority of enterprises working as ancillaries. Together the MSMEs constitute a single largest employer after the Agriculture sector in India. Highly developed economies have banked on their small and medium enterprises for both GDP Growth as well as higher employment resulting in higher per capita incomes.
Sources: pib.
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