India, US Sign MoU on MSME Cooperation

India and the United States have signed a landmark Memorandum of Understanding (MoU) to enhance cooperation in the micro, small, and medium enterprises (MSME) sector. This agreement aims to foster trade, innovation, and support women entrepreneurs, as stated by External Affairs Ministry Spokesperson Randhir Jaiswal. The MoU, signed in New Delhi, follows a commitment made during Prime Minister Narendra Modi's visit to the US in June 2023. It outlines a framework for collaboration, including the exchange of expertise, technology cooperation, and the establishment of a Business Matching Digital Platform to enhance business opportunities. Additionally, the agreement emphasizes the importance of MSMEs in driving inclusive growth and expanding exports. Joint programs will also be developed to empower women-owned small businesses in both countries.