Economic policy think tank Indian Council for Research on International Economic Relations (ICRIER) has said that Indian Micro, small and medium enterprises (MSMEs) can seek technical collaboration from foreign retailers for a skilled workforce to satisfy
Economic policy think tank Indian Council for Research on International Economic Relations (ICRIER) has said that Indian Micro, small and medium enterprises (MSMEs) can seek technical collaboration from foreign retailers for a skilled workforce to satisfy the quality norms set by foreign multi-brand retail firms for procurement of goods from the country.
The move proposed by ICRIER came following the government’s decision to allow 51 percent FDI in multi-brand retail in September 2012 that makes it mandatory for foreign retailers to procure at least 30 per cent of their requirements from Indian MSMEs.
Arpita Mukherjee, Professor, ICRIERF talking about the issue of compliance of international quality norms for MSMEs, said that there are some basic global norms that MSMEs willing to supply to overseas brands need to follow. However, variance is even observed in these standards, as at times companies set their own standards.
Mukherjee also said that she eyes good scope for the government to collaborate in providing skill training, particularly vocational training to workers of MSMEs to enable them to converge with global norms. She was speaking at an ICRIER function in New Delhi.
Indian entrepreneurs could join overseas retailers for this purpose and skill training may be imparted to MSME workers through the National Skill Development Council (NSDC), she suggested.
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