International SME Convention 2018 Current Affairs - 2019
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The first International SME (Small, Medium Enterprises) convention will be held in New Delhi from 22ndto 24th April, 2018. It has been organised by Ministry of Micro, Small & Medium Enterprises. It aims to provide platform to allow Entrepreneur to Entrepreneur (E2E) exchange of ideas, free and fair business discussions, mutual sizing of opportunities and ways to address them.
The four day International SME convention will see participation of 150 participants from 31 countries and 400 entrepreneurs from India. It has specific focus on inclusion of MSMEs in Make in India program and empowering women entrepreneurs.
The Ministry of MSME has engaged with over 35 International Trade Development organisations to attract and invite able and willing entrepreneurs and encourage people to people (P2P) contact with select Indian Entrepreneurs from key sectors of the International counterparts.
India is home to more than 60 million MSMEs, majority of which are in low-tech areas and serve local domestic markets. The MSMEs sector constitute single largest employer after Agriculture sector in India. Highly developed economies have banked on their SMEs for both GDP Growth as well as higher employment resulting in higher per capita incomes. In India, small percentage of SMEs have ability to derive access to International Markets, with vast majority of enterprises working as ancillaries.