India, US to set up SME platform

NEW DELHI: The US and India are working on an India-US SME forum on the lines of the India-US CEO forum to promote linkages between small and medium businesses in the two countries. The forum is likely to be set up in the next few months.

Representatives from the US-India Political Action Committee (USINPAC), a leading political organisation of the Indian American committee, discussed the issue with commerce and industry minister Kamal Nath on Thursday.

The minister convinced the visiting delegation that India will finalise all details and be ready by April, when the annual foreign trade policy is announced, USINPAC founder & chairman Sanjay Puri said.

Addressing a press conference in New Delhi, Mr Puri said that his committee was in touch with the US small business association and the US department of commerce on the proposed forum, and the US, too, appeared ready to set it up.

“The forum would play a big role in boosting cooperation among SMEs in the two countries, especially in the areas of environmental technology, biotechnology, pharmaceuticals and aviation,” he said.

Representatives from USINPAC, who will participate in the Pravasi Bhartiya Diwas scheduled later this week, also plans to convince NRIs from the Nuclear Suppliers’ Group member countries to persuade them to support India’s case in the annual plenary of the NSG in South Africa.