India, Slovenia discuss ways to enhance cooperation in MSME

Slovenia, a south-eastern European nation, on Tuesday said it is keen to collaborate with Indian Micro, small and medium enterprises (MSMEs) mainly in the IT sector.

A delegation led by Slovenian Minister of Economy Darja Radic met MSME Minister Virbhadra Singh and said that the European nation can provide huge market to Indian MSME sector.

"Slovenia is a member of European Union and can offer a gateway to the Indian MSMEs for whole of Europe. It is a very good opportunity for the Indian MSMEs to partner with Slovenia counterparts in capturing the European markets," Slovenian Minister of Economy Darja Radic said.

Radic and Singh discussed ways to increase collaboration in the sector. India's IT sector contribute over 50% in the country's economic growth. Both the ministers also discussed possibilities for collaboration in MSMEs involved in glass manufacturing and renewable energy of both the nations.

Suggestion were made to the delegation about sending an IT delegation to there with the objective to establish Indian IT units and to provide technology and employment to the local people, an official statement said.

It was also suggested to set up an Indo-Slovenia Industrial Estate to promote business tie-ups and ventures between the MSMEs of the two countries, it said. In India, MSMEs are the second largest employers in the country after the agriculture sector.

As many as 60 million people are employed in the sector, which contribute eight per cent in the country's Gross Domestic Product and 40% to exports.