India to lead global effort to tap MSME potential: Sitharaman

Posted under: MSME
Date: 2023-11-07
India to lead global effort to tap MSME potential: Sitharaman

India's Finance Minister, Nirmala Sitharaman, has emphasized India's potential to lead in advancing the goals outlined in the ""Jaipur Call for Action"" during the upcoming G20 Leaders' Summit. The call focuses on improving access to information for Micro, Small, and Medium Enterprises (MSMEs). G20 Trade Ministers had urged the International Trade Center (ITC) to develop an implementation plan, in consultation with UNCTAD and the WTO, to enhance the ITC's Global Trade Helpdesk for MSMEs. MSMEs play a crucial role in global economies, accounting for a significant portion of businesses, employment, and GDP. Sitharaman highlighted the need for better information access for MSMEs to engage in international trade effectively. Under India's G20 Presidency, efforts have been made to address the concerns of the Global South, explore technology's role in development, and enhance the effectiveness of multilateral institutions in tackling 21st-century development financing challenges.

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