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Third Tri-Nations Summit for Small Business Development Inaugurated

Press Information Bureau, Government of India

Ministry of Micro,Small & Medium Enterprises

Press Release

Third Tri-Nations Summit for Small Business Development Inaugurated

19 November 2008

With the aim of enhancing co-operation between India, Brazil and South Africa in the field of Small Industries, the Third Tri-nation Summit for Small Business Development began in Faridabad. Inaugurating the Summit the Union Minister of Micro, Small and Medium Enterprises Shri Mahabir Prasad raised hope that the summit will help the small industries of IBSA countries to meet global challenges. The Minister said that in order to achieve this objective, it is essential to have synergy between the complimentary strengths of MSMEs of these three countries. This synergy will not only improve the competitiveness of small enterprises but will also enable them to enhance their participation in global market.

Stating that the government is preferring promotional approach to protection approach for MSMEs, Shri Prasad said that the Government, in the post reform period, has taken many steps to build up their competitive strengths and improve their product quality.

Addressing the Seminar, Shri Dinesh Rai, Secretary, Ministry of MSME said that the vital challenges imposed by the process of globalization have resulted into increased competition for the survival of SMEs everywhere. The Indian Government attaches great importance to building up cooperation between the micro, small and medium sized firms of three countries. In this context, it is the need of the hour that MSMEs of India, Brazil and South Africa identify areas of mutual co-operation. The collaborative efforts of NSIC, SEBRAE and SEDA have given excellent opportunities to MSMEs of these three countries to form alliances and withstand global challenges together.

India, Brazil and South Africa, commonly known as IBSA countries, share a similar economic atmosphere and have stood together on various multilateral forums. The delegates from the participating countries are hopeful that the tri-nation summit will provide a platform for meaningful business linkage between small enterprises of the three countries. 55 delegates representing Brazil and South Africa are participating in this important programme. After a series of successful talks organized earlier in South Africa and Brazil the third tri-nation summit promises to strengthen the existing relationship between the IBSA countries.