Ministry of MSME Signs MoU To Create Entrepreneurship In The Sector

The Ministry of Micro, Small and Medium Enterprise (MSME) has signed a Memorandum of Understanding (MoU) with the International Labour Organisation. In the initial phase, the MoU is for five years and has been signed in order to support Prime Minister Narendra Modi’s Make in India campaign.

The partnership between the ministry and the International Labour Organisation is purely technical with the aim of creating more and better quality employment in India.

“Its activities will be focused around three priority areas which includes entrepreneurship development, good workplace practices for improving productivity and enhancing integration into global supply chains, and research and knowledge-building related to sustainable enterprises and formalization strategies,” said the ministry in a statement.

The MoU was signed between Madhav Lal, Secretary, ministry of MSME and Tine Staermose, Director, Decent Work team for South Asia and Country Office of India on Monday.

It should be noted that in recent times, Prime Minister Modi has emphasized on the need for rapid growth of MSMEs and has encouraged players to enter the sector. The Make In India initiative is also expected to give a boost to the MSME players in the manufacturing sector.

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