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India is a laboratory for innovations in Small and Medium Enterprises (SMEs) and the country provides a unique opportunity to study their development, Jose Maurel, Director, Special Advisory Services Division of Commonwealth Secretariat, has said.
India had a symbiotic relationship with the Commonwealth and the country’s changing role was evident as it became an important provider of ideas and resources to the fight against poverty, he said while delivering the inaugural address at the opening of the 7th Commonwealth-India Small Business Competitiveness Programme in Kochi on Wednesday.
The six-day programme is being organised by the Commonwealth Secretariat in collaboration with Coir Board and the Export Import Bank of India. The programme, the second one hosted by Kochi, is being attended by 63 delegates from 27 Commonwealth countries. Thirty-seven of these delegates are women.
Coir Board Chairman A.C. Jose said that India was a surging economy and that the small business enterprises had a lot to do with India’s growth as envisioned by Mahatma Gandhi. He pointed to the example of the coir industry which employed more than half-a-million people of whom 85 per cent were women.
Small industries held the key to generating employment for India’s millions spread in its half-a-million villages, he said. K. Muthukumaran, Chief General Manager of Export-Import Bank of India, read out a message from the Bank’s Chairman and Managing Director T.C. Venkat Subramanian.
The message said there were 26 million small industrial units in the country manufacturing 7,500 products.
The SMEs accounted for 40 per cent of the value addition in industrial products and 35 per cent of India’s exports. A pan-Commonwealth expo of SME products and rural technologies was opened at the venue of the programme at Hotel Taj Residency. Thursday’s sessions are on SMEs as engines of growth and poverty alleviation, developing micro enterprises for a robust village economy and comparative roles of public institutions in SME development.
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