Enhanced Opportunities for Solapur’s MSMEs in Global Markets

MVIRDC World Trade Center Mumbai received overwhelming response from micro, small and medium enterprises (MSMEs) for its interactive session on ‘Skilling MSMEs for Global Opportunities’ organized in Solapur on July 1, 2019. The event was organised in partnership with Maharashtra Industry, Trade and Investment Facilitation Cell (MAITRI), which is an arm of Department of Industries, Government of Maharashtra.

The interactive session is part of the series of knowledge programmes conducted by MVIRDC World Trade Center Mumbai across Maharashtra to observe World Trade Day. World Trade Day is a unique initiative of World Trade Centers across the world to create awareness on international trade and its impact on economic development and regional growth. The objective of World Trade Day is to encourage small and medium enterprises to explore opportunities in capacity building and seek opportunities in international trade and exports.

Mr. Arvind N. Khedkar, who is the senior faculty of World Trade Institute Mumbai, was the main speaker for the program. He explained that balance of trade (BOT), which is an indication of Forex inflow and outflow, is a major issue of our economy. “Our Balance of Payment (BOP) may be overtly comfortable (because of strong inflow of foreign capital), but BOT is an issue as our imports far exceeds exports.

India’s foreign trade policy aims at improving BOT at micro level of a firm so that aggregated it may help towards achieving positive BOT.”

Mr. Khedkar further explained, “India needs to promote exports aggressively in the background of trade competition and political issues relating to tariff and non tariff barriers. The training we impart is to encourage industries to export good quality products at competitive prices by enhancing their competence with thorough knowledge of all aspects of international trade.”

Earlier in his welcome remarks, Mr. A O Kuruvila – Advisor – Trade and Education, WTC Mumbai explained the underlining objective of organizing such sessions. He also mentioned that similar sessions are planned in other key cities such as Amaravati, Jalgaon, Palghar and Ratnagiri.

He explained the role played by MVIRDC World Trade Center Mumbai in promoting international trade with various activities including training courses in foreign trade. He spoke about the objective of WTD and how it helped MSMEs in building knowledge and confidence in entrepreneurship. He also elaborated on the services offered by WTD and encouraged MSMEs to get benefit by associating with WTC. He also informed about various courses offered by WTC to skill entrepreneurs to be global.

The session involved interactive participation and Q&A on practical issues related to exports and imports.

Mr. Arvind N. Khedkar conducting interactive session titled ‘Skilling MSMEs for Global Opportunities’ in Solapur on July 1, 2019

A view of participants at interactive session titled ‘Skilling MSMEs for Global Opportunities’ in Solapur on July 1, 2019