India to sign 34 MoU for MSME Cooperation With IORA Member Countries

Union Minister of MSME, Mr. Kalraj Mishra Thursday inaugurated Workshop on MSME Cooperation amongst Indian Ocean Rim Association (IORA) Member countries. Speaking on the occasion, he said that this workshop will strengthen economic relationship amongst the member countries in the field of trade and investment facilitation especially in MSME sector. He also stated that India has  Memorandum of Understandings (MoUs) with 18 countries for cooperation in MSME sector. The National Small Industries Corporation of India, Public Sector Enterprise under the Ministry of MSME has 34 MoUs with its counterpart organizations of foreign countries for cooperation in MSME sector.
Mr. Mishra also stated that this Workshop on SME cooperation will facilitate exchange of ideas, concerns and experiences of IORA member states and would help evolve a common MoU to address the emerging challenges in the region in MSME sector. He emphasized that the resilience in IORA over the last 20 years has been its innate strength. IORA’s evolution and growth have consistently seen an upward trajectory. He said that this strength must be reinforced by ensuring independence of strategy and priority. The onus of strengthening the regionalism in a composite manner must rest first on the shoulders of IORA members themselves.
Minister of State for MSME Mr. Haribhai Parthibhai Chaudhary has emphasized that the IORA region has emerged as a strong one with the highest growth prospects in the world. He also stated that India and IORA together represent a huge market in which suppliers can build scale and efficiency and investors can allocate capital most productively.