India and the US have launched a Small and Medium Enterprise (SME) forum to help generating new jobs and investments and spur economic growth. A discussion focusing on “Integrating SMEs into the US-India Value Chain” was organised in New Delhi by the US-India Business Council (USIBC) in partnership with the Confederation of Indian Industry (CII). “The launch of the SME Forum represents a fresh outlook on how the US and India can help generate new jobs, new investments and spur economic growth long after the President’s visit in November,” said USIBC that represents top 300 US firms doing business in India.
Representatives from both sides spoke to the vast potential for SMEs to enter and reshape the global value chain, creating mutually beneficial opportunities for both countries. “It is critical that small and medium sized enterprises are able to participate in the extraordinary growth story unfolding in India,” pointed by Ron Somers, president, USIBC. “By accessing new and exciting markets, these companies will help drive growth, innovation and job creation here in the United States. USIBC and CII will help these companies in finding new opportunities in India’s fast-growing Tier II and Tier III cities,” added Somers.