'Govt. to set up incubators in Africa for SME skill development'

Top Stories

»	Sensex, Nifty open nearly flat as geopolitical tensions continue
»	Sensex, Nifty gain in early trade as India carries out ‘Operation Sindoor’
»	India, UK finalised free trade deal, says PM Modi
»	Moody’s pegs India’s GDP growth at 6.3 per cent for 2025
»	Nifty, Sensex open higher; Adani Ports among top gainers

Namrata Kath Hazarika | 15 Mar, 2010
As a part of the ambitious action plan to expand development-centric partnership between India and Africa, the Ministry of MSME has planned to set up 10 specialized vocational training institutes in 10 different African countries to help the small and medium businesses (SMEs) in the continent, said the Secretary of Ministry of MSME, Dinesh Rai.

Rai told SME Times on the sidelines of the 'Conference on Financing SME Business and Projects in Africa' in New Delhi on Saturday, "We are setting up incubators in Africa. Also, we will be training some people sponsored by the external ministry for skill development and entrepreneurship in Africa."

He added that as per the Joint Action Plan prepared up by the Government of India and Africa Union Commission to implement the provisions of the Delhi deliberations during the First India Africa Forum Summit in 2008, the vocational training institutes will be set up in different African countries, which would cost around Rs. 5 crore.

"Also, we have an action plan which will provide policy support for any schemes or programs in African countries," Rai revealed.

Individually, the Ministry of MSME have signed six memorandum of understanding (MOUs) and the National Small Industries Corporation Limited (NSIC) has signed almost 11 MOUs with the African countries, he also informed.

The joint action plan was submitted to the Ministry of External Affairs on 10 March 2010, Rai added.

Rai requested that India could partner the African countries in developing their respective MSME sectors through cooperation for building policy and institutional frameworks, participation of Indian MSMEs in exhibitions and buyer-seller meets, incorporation of information on African MSMEs on the National Small Industries Corporation (NSIC) web portal, transfer of appropriate technologies, joint ventures, collaborative R&D, incubation support and setting up of vocational training centres.

He said that focused attention on MSMEs will help the partner countries to generate more jobs with lesser investment, as well as contribute to greater rural development, which is of essence to an inclusive growth strategy.

India-Africa MSME cooperation has significant potential in the areas such as agro-processing, chemicals, infotech, biotech, auto components, drugs and pharmaceuticals, light engineering and electrical and electronic components.

The trade between both India-Africa grew nearly four-fold from $9.9 billion in 2004-05 to $39 billion in 2008-09. The India–Africa Forum Summit is the official platform for the African-Indian relations. It was first held from April 4 to April 8, 2008 in New Delhi.