NEW DELHI: In efforts to promote and explore new opportunities for cooperation among small and medium enterprises in the various sectors like aerospace, defence, security and space, industry body Confederation of Indian Industry (CII) has inked a MoU with UK-based ADS.
The pact was signed on the sidelines of the 3rd India-UK SME Business Meet, in the presence of Dr Jaimini Bhagwati, High Commissioner of India to the UK, Rt Hon Carwyn Jones AM, First Minister of Wales and HP Kumar, CMD, National Small Industries Corporation (NSIC).
The two-day India-UK SME Business Meet, which concluded today, witnessed the participation of CII SME delegation led by Deep Kapuria, chairman, CII National MSME Council and Chairman, Hitech Gears Ltd. The meet in Cardiff is jointly organised by the Indian High Commission (in London, UK) and the Welsh Government.
On the occasion, Kapuria, said, “Both ADS & CII will work together in establishing programmes in Aerospace, Defence, Security and Space, which will encourage greater sharing of expertise and experience between SMEs and developing linkages with relevant agencies tasked with supporting SMEs.”
The MoU elevate the Indian SMEs to the high global standards in the four sectors, and CII will work closely with both the Ministry of MSME and the National Small Industries Corporation (NSIC).
Comparing the Indian and UK SMEs, Dr Jamini Bhagwati, High Commissioner of India to the UK mentioned that in India SMEs contribute 8 per cent to our GDP, 45 per cent of manufactured output and 40 per cent of Indian exports. Whereas, the SME sector's contribution to the UK GDP is more than one-third.
Indian SMEs are progressively realising the importance of the technology and also understanding its role in the sustainable development, he added.
ADS is the trade body advancing UK Aerospace, Defence and Security industries with Farnborough International Limited as a wholly owned subsidiary.