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2010-03-15

MSME ministry to invest in Africa

Africa might be the next destination for the expansion of Indian small and medium businesses.

Africa might be the next destination for the expansion of Indian small and medium businesses. The Ministry of MSME is planning to set up incubators in Africa, said the Secretary of Ministry of MSME, Dinesh Rai.

 

The estimated cost that would be incurred by the ministry for the same has been estimated around Rs 5 crore. This is a joint action plan formed by the government of India and Africa Union Commission to implement the provisions of the Delhi deliberations during the First India Africa Forum Summit in 2008.

 

The project also includes the setting up of 10 specialised vocational training institutes in 10 different African countries. Individually, the Ministry of MSME has signed six memorandum of understanding (MOUs) and the National Small Industries Corporation Limited (NSIC) has signed almost 11 MOUs with the African countries.

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