Germany shows keen interest in Indian SMEs market

Germany shows keen interest in Indian SMEs market

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The German Federal Ministry of Economics & Technology has shown its keen interest in Indian Micro, Small & Medium Enterprises (MSME) sector, especially cluster development programme.

Germany is willing to set up Information Centres on small and medium businesses in the line of their centres already opened in China, Indonesia and Singapore. Hartmut Schauerte, Parliamentary Secretary of Germany stated that the country will help India in upgrading technologies in the MSME sector. Welcoming the proposal of Germany, Chandrapal, Secretary MSME stated that the Government had taken a number of steps to boost the MSME sector in recent months, including the enactment of the Micro, Small & Medium Enterprises Development Act, 2006. The Act is aimed to promote the development of small and medium enterprises in a competitive way. One of the primary objectives of the Act is to make provisions for ensuring timely and smooth flow of credit to small and medium enterprises, especially the unemployed youth of India.

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