International Labor Organization Holds Policy Dialogue with Andhra and Odisha to Create MSME Ecosystem for Sustainable Growth

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NNA |
Update:
January 29, 2022 1:45 a.m. STI

Bhubaneshwar (Odisha) [India]Jan 29 (ANI): The International Labor Organization on Friday convened a policy dialogue with Andhra Pradesh and Odisha, to understand what sectoral and MSME policy approaches and initiatives emerging economies are adopting to catapult their rise as centers global sourcing companies and industry leaders.
The ILO organized a “Policy Dialogue: Building a market-responsive, resilient and inclusive MSME ecosystem for job-rich and sustainable growth” in collaboration with the state governments of Andhra Pradesh and Odisha, supported by the Korea International Cooperation Agency (KOICA) .
Speaking at the session, BB Swain, Secretary, Ministry of Micro, Small and Medium Enterprises, Government of India, said, “The MSME sector is important to India’s GDP. MSMEs have been hit by the preventive measures taken against COVID-19.To boost the ecosystem, India is trying to formalize the sector so as not to lose any benefit for MSMEs.MSME resilience and market responsiveness will need technology to meet the demands This dialogue will support knowledge building in both states and help them develop evidence-based welfare policymaking.

“Andhra Pradesh, being a new state, is collaborating with international agencies, in the area of ​​technology, skills as well as market linkages, to help strengthen the market mechanism in identified sectors. Vietnam, Indonesia and Bangladesh, as well as knowledge sharing from Korea, will provide insight into global best practices during this high-level multi-stakeholder policy dialogue,” said Karikal Valaven, Special Chief Secretary to the Government, Industries and Commerce, Government of Andhra Pradesh.
Informal workers, many of whom are women, youth and other marginalized groups, form the backbone of the MSME sector. The policy dialogue discussed the need to develop a broader system of rules, regulations and support functions surrounding value chains and markets that will foster entrepreneurship, improve productivity and working conditions for strengthen the competitiveness of MSMEs; innovation; and digitization, while preventing vulnerable groups from falling into poverty.
“Odisha is looking forward to technical assistance from the ILO for capacity building of public institutions and MSMEs, while focusing on the entrepreneurial segment of the state. Odisha has focused on developing women entrepreneurs through through its SHG movement, and many potential women entrepreneurs are ready to step in social inclusion through training The state is creating a positive growth-oriented policy ecosystem to support the MSME ecosystem and startups, to to drive Odisha’s MSME development journey,” said Ranjana Chopra, Principal Secretary, Department of MSMEs, Government of Odisha.
The discussion focused on four countries namely South Korea, Vietnam, Indonesia and Bangladesh to facilitate knowledge building for India, especially for Andhra Pradesh and Odisha , in order to adopt similar economic development models.
Countries have expanded their efforts to transform themselves into market economies by moving from low-value agrarian products to high-value manufactured goods and becoming industry leaders or supply hubs. The dialogue discussed how economies have seized the opportunity presented by the COVID-19 wake-up call to accelerate resilience building and support formal and sustainable MSMEs to support global competitiveness of sectors. (ANI)

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