India-Taiwan SME Development Forum in Taipei. Photo: PIB
Arun Kumar Panda, secretary micro, small and medium enterprises (MSME) in India, led an Indian delegation in the India-Taiwan SME Development Forum being held at Taipei, Taiwan from 13th to 17th November, 2018.
In his opening remarks at the Forum, Panda said the MSME sector in India occupies a position of strategic importance. Currently, he said, there are over 63 million MSMEs across various industries that employ more than 111 million persons and produce more than 8,000 products, ranging from traditional to high-tech precision items.
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He said MSME is the second largest employment generating sector after agriculture. Talking about the initiatives taken by Government of India under Startup India program, he said to promote a culture of entrepreneurship, programs like ‘Startup India’ and ‘Standup India’ have been launched and have resulted in India having the 3rd largest startup ecosystem in the world with more than 26,000 startups.
Speaking about integrating the Indian MSMEs with the regional and global value chain, he said that there is a lot of potential for cooperation in MSME sector between India and Taiwan.
Panda added that India welcomes investment both in terms of technology transfers and FDI by Taiwanese companies in India with Indian SMEs. Sectors like electronics, auto-components, textiles, automobiles, bamboo industry, in which Taiwan has largest concentration, are of special interest to India, he said.