Indian SMEs Collaborate With US Counterparts in the Field of Agriculture, IT, Healthcare

According to the Indian Government, the collaboration between Small and Medium Enterprises (SMEs) of India and US in the fields of Healthcare, IT and Agriculture, can help each other in production and marketing of their products. This collaboration will also help to make SMEs more competitive, productive and also encourage them to manufacture high value added products, through promotion of cluster development program.

According to the Ministry of MSMEs, a win-win situation can be created for both countries. For example, in India IT, Agriculture, Health, Education and Entertainment are the priority sectors which can be tapped by the US SMEs.

This facility will also help SMEs in mobilization of human and financial resources for their growth. In India, SMEs are facing various problems like credit crunch, less technical knowhow and lack of research and development facilities and these problems can be overcome by this collaboration. The US and India can also co-operate in integrating Indian – American SMEs into the global supply chain. According to the ministers, this initiative would expand trade and create jobs in both the countries.

SME sector contributes to about 40% of the India’s exports and 45% of industrial output. This sector is employing 60million people and creates 1.3 million jobs every year. The Indian MSMEs sector is producing more than 8000 quality products for the Indian and International markets.

Source: Economic times

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