Commonwealth-India SME knowledge base launched

By Staff
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Google Oneindia News

New Delhi, Nov 20: About 50 delegates representing small and medium enterprises (SMEs) from 23 Commonwealth countries will have brainstorming sessions for the next five days to work out how the small-scale sector can help in poverty alleviation and contribute to growth and development.

Launching the 5th Commonwealth-India Small Business Competitiveness Development Programme here last evening, Small Scale and Agro Rural Industries Minister Mahabir Prasad said the SMEs had the maximum potential for generating employment opportunities.

''While the agricultural sector has limited scope for generating employment and the large industries are able to create a few jobs despite huge investments, it is the SMEs sector which has the maximum potential of generating employment opportunities.'' He said micro and small enterprises could play a crucial role in reducing regional and social differences necessary for the balanced growth of the country.

Citing statistics, he said about 12 million enterprises in India provided employment to nearly 29 million people, and contribute 39 per cent of industrial production and 34 per cent of the direct exports of the country.

''Small enterprises produce almost 8,000 items ranging from conventional products to high-tech components used by different sectors. These enterprises are playing a significant role in sectors such as agro-food processing, light engineering, readymade garments, leather, ceramics and information technology,'' he said.

''To assist micro and small enterprises, their specific needs should be identified and brought to the notice of policy makers,'' he added.

Mr Prasad observed that developing countries of the Commonwealth might gain from the rich experience of small and medium enterprises of India. Similarly Indian small enterprises would learn a lot from the experiences of developed and developing countries within the Commonwealth.

UNI

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