- The state is home to 100 Fortune 500 companies and 19.80 lakh registered MSMEs: CM
- Our Centre of Excellence in Ahmedabad will provide classroom trainings, disseminate market information, organise buyer meets, and undertake other initiatives to equip MSMEs with the skills and knowledge needed to meet global demands and expand their export potential: Pankaj Bohra, National President of IACC
- Mamta Verma, Principal Secretary of Gujarat’s Industries Department, praises IACC for launching the MSME Centre of Excellence, calling it a unique and timely initiative
NE BUSINESS BUREAU
AHMEDABAD, AUGUST 8
Gujarat Chief Minister Bhupendrabhai Patel inaugurated the first IACC-MSME Centre of Excellence, a pioneering initiative by the Indo-American Chamber of Commerce (IACC), in Ahmedabad on Thursday. The Centre aims to upgrade and strengthen Micro, Small and Medium Enterprises (MSMEs) to effectively cater to the export markets.
IACC, the apex bilateral chamber of commerce promoting trade between India and the US, has 14 offices across India and 38 partner organisations in the US. The chamber works closely with both to bolster bilateral trade, which reached $200 billion last year.
In his address, Chief Minister Bhupendrabhai Patel described MSMEs as the backbone of the economy and reiterated his government’s commitment to supporting them by ensuring greater Ease of Doing Business.
“India aims to become the third largest economy in the world, and MSMEs will play a pivotal role in achieving this. The IACC-MSME Centre of Excellence will serve as a bridge between MSMEs in Gujarat and American companies. We will provide our full support and play the role of a facilitator in their growth,” the Chief Minister said.
Highlighting Gujarat’s industrial prowess, the Chief Minister noted that the state is home to 100 Fortune 500 companies and 19.80 lakh registered MSMEs. Despite accounting for only 5% of India’s landmass, Gujarat contributes 8.63% to the national GDP. He expressed confidence that Gujarat will play the biggest role in achieving the goal of Viksit Bharat by 2047.
Pankaj Bohra, National President of IACC, emphasised the robust economic partnership between India and the US and the vast opportunities for Indian companies due to changing geopolitical dynamics, shifting economic landscape, emerging technologies and favourable regulations.
“Large Indian industries are making inroads in the US market but MSMEs are lagging. Many MSMEs aspire to export to the US but lack the capacities, awareness of good manufacturing practices, quality certification requirements and export documentation. Our Centre of Excellence in Ahmedabad will provide classroom trainings, disseminate market information, organise buyer meets, and undertake other initiatives to equip MSMEs with the skills and knowledge needed to meet global demands and expand their export potential. IACC will establish similar Centres of Excellence across the country,” Bohra announced.
India has 6.34 crore MSMEs, contributing 30% to the national GDP, 50% to exports, and providing over 11 crore jobs. However, MSMEs face challenges such as regulatory compliance, infrastructure, technology, workforce skills, market access, innovation resources and sustainable products. The IACC Centres of Excellence will handhold MSMEs, train them, and help them overcome these challenges. The Centres will also connect MSMEs to American companies, opening new growth opportunities for them.
Mamta Verma, Principal Secretary of Gujarat’s Industries Department, praised IACC for launching the MSME Centre of Excellence, calling it a unique and timely initiative. She emphasised the importance of strengthening and empowering MSMEs.
Dinesh Daga, former chairman of IACC Gujarat branch, Rajendra Shah, Chairman of Harsha Engineers, and Sunil Jain, Chairman of the IACC-MSME COE Committee, also addressed the inaugural session.
The event also featured insightful sessions on Empowering MSMEs to make them future-ready for Exports, Availability of Export Finance to MSMEs, and Exports Incentives & Benefits available to MSMEs, where industry leaders and experts shared their insights with the participants.
The event also featured insightful sessions on empowering MSMEs for exports, availability of export finance, and export incentives and benefits, where industry leaders and experts shared their insights with the participants.
The associate partners of IACC-MSME Centre of Excellence include the Knowledge Chamber of Commerce and Industry, The Indus Entrepreneurs (TiE) Ahmedabad, Vatva Industries Association, State Bank of India, IDBI Bank, The Gujarat Dyestuff Manufacturers Association, GESIA, National Skill Development Corporation, The Institute of Indian Foundrymen’s Ahmedabad Chapter, and EY.
