NSIC signs MOU with Black Business Council of South Africa for promoting cooperation in the field of MSMEs.
Cementing India’s cooperation with South Africa in the MSME sector, The National Small Industries Corporation Ltd.-NSIC in partnership with South Africa’s Black Business Council, will soon establish five Rapid Incubation Centres in South Africa.
Addressing a gathering at the Conference on ‘Cooperation in MSME Sector’, Union Minister for MSME, Shri Kalraj Mishra said that India-South Africa cooperation is about sharing knowledge and expertise, exchange of best practices, supporting innovation and building capacity and skills. The conference was organized by NSIC and the High Commission of India in South Africa in cooperation with Black Business Council, South Africa. “As the process of industrialization expands further in South Africa, it finds greater synergy with Indian MSMEs particularly in entrepreneurship development and technological incubation in South Africa. In this reference, NSIC, a public sector enterprise with the Ministry of MSME, Government of India is signing a Memorandum of Understanding(MOU) of Cooperation in the MSME sector with Black Business Council (BBC) of South Africa for developing youth owned enterprises in South Africa,” he added. The MOU, besides cooperation in MSME sector, also focuses on BBC’s efforts to economically empower the marginalized groups in South Africa.
Shri Kalraj Mishra said that South Africa as a member of SADC can be a good partner for Indian businesses. Its manufacturing and technical capabilities make it a good springboard for doing business in Africa. “Similarly, India offers South African companies an excellent location for addressing the huge domestic Indian market as well as the wider Asian market,” he said.
“Some other sectors of bilateral cooperation that we are highlighting include Auto Component industry, Machine Tools industry, Leather and Leather Goods, Chemicals and Pharmaceuticals, Fruit and Food processing and Textiles, among others. These are the industries where Indian companies especially SMEs have been performing well and have made their presence felt on the global marketplace.
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