MSME traders will now receive education, hands-on training, resources and guidance on mobilizing their companies, owing to the India Digital Trade Facilitation Forum (IDTFF). Digital payments company Paypal and the Indian Institute of Foreign Trade have entered an MoU which will enable SME traders to commercially digitize their enterprises,marketing, upscaling and help them in the efficient cross-border movements.
This will be a valuable effort for small businesses as they are the key to achieving the $400 billion export target by this year, envisioned by our PM Narendra Modi. Through this collaboration Paypal will be able to solve one of the major challenges of small-scale entrepreneurs, that is transactions. This will give them more confidence in performing seamlessly which increasingly becomes important.
MSME Minister Narayan Rane had also started MSME body India SME Forum’s portal IndiaXports to further enable exports by small businesses globally. It has information on exports for MSMEs around all 456 tariff lines along with the trends in exports, procedures, etc. MSMEs share in India’s exports has been 48 per cent. With the innovative steps of former MSME Minister Nitin Gadkari and Mr Narayan Rane, the growth of this sector is aimed to reach $60 per cent in the coming two years.
Source: financial express
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Technology is a useful servant, but a dangerous master, it was rightly said. Electronic devices have grown into an inevitable part of our daily lives.
