Government to set up Social media portal to strengthen collaboration between Indian and foreign MSME

1) Government is planning a networking portal to help SME businesses connect with each other and forge partnerships.

2)  MSME Ministry Secretary Arun Kumar Panda mentioned that the portal will enable MSMEs, particularly in small cities and towns to adopt futuristic technologies and become more competitive

3) The Portal will be launched in 2019 and will cater to the MSME Ministry's database of 75 lakh (7.5 million) registered MSMEs

4) Indian MSMEs will benefit from international collaboration as foreign SMEs will be able to bring along new technology and investment.

5) Active collaboration with international counterparts will also help Indian MSMEs become part of the global value chain.

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