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The International Labour Organization on Friday hosted a Policy Dialogue with Andhra Pradesh and Odisha, to understand what sectoral and MSME policy approaches and initiatives emerging economies are adopting to catapult their rise as global sourcing hubs and sector leads.The ILO organized a 'Policy Dialogue: Building a market-responsive, resilient, and inclusive MSME ecosystem for job-rich and sustainable growth' in collaboration with the State Government of Andhra Pradesh and Odisha, supported by the Korea International Cooperation Agency (KOICA).Speaking at the session, BB Swain, Secretary, Ministry of Micro Small Medium Enterprises, Government of India said, "The MSME sector is important for India's GDP. MSMEs have been impacted by preventive measures taken against COVID-19. To boost the ecosystem, India is trying to formalize the sector not to lose any benefits going to MSMEs. The resilience of MSMEs and market responsiveness will need technology to respond to the demands. This dialogue will support the knowledge building in the two states and support them to develop the evidence-based policymaking.""Andhra Pradesh, being a new state, is collaborating with international agencies, in the field of technology, skills along with market linkages, to help strengthen market mechanism in identified sectors. Learnings from Vietnam, Indonesia, and Bangladesh, as well as knowledge sharing from Korea, will provide insights on the global best practices at this high-level, multi-stakeholder policy dialogue," said Karikal Valaven, Special Chief Secretary to Government, Industries and Commerce, Government of Andhra Pradesh.Informal workers, many of whom are women, youth and other marginalized groups form the backbone of the MSME sector. The Policy Dialogue discussed the need for developing a wider system of rules, regulations and supporting functions surrounding value chains and markets which will promote entrepreneurship, improve productivity and working conditions to enhance MSME competitiveness; innovation; and digitalization, all while preventing vulnerable groups from sinking into poverty."Odisha looks forward to the ILO's technical assistance for capacity building of state institutions and MSME enterprises along with focusing on the state's entrepreneurial segment. Odisha has focused on the development of female entrepreneurs through its SHG movement, and many prospective female entrepreneurs are ready to step into social inclusion through training. The state is creating a positive growth-oriented policy ecosystem to support the MSME ecosystem and startups, to drive Odisha's MSME development journey", said Ranjana Chopra, Principal Secretary, Department of MSME, Government of Odisha.The discussion focused on four countries, namely South Korea, Vietnam, Indonesia, and Bangladesh to facilitate knowledge building for India, particularly for Andhra Pradesh and Odisha, to adopt similar economic development models.The countries elaborated upon the efforts made by them in transforming to market-based economies by transitioning from a low-value agrarian to high-valued manufacturing products and emerging as sectoral leads or sourcing hubs. The dialogue discussed how economies seized the opportunity provided by the COVID-19 wake-up call to accelerate building resilience and help formal and sustainable MSMEs sustain global against the competitiveness of sectors.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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National :International Labour Organization hosts policy dialogue with Andhra, Odisha to build MSME ecosystem for sustainable growth

The International Labour Organization on Friday hosted a Policy Dialogue with Andhra Pradesh and Odisha, to understand what sectoral and MSME policy approaches and initiatives emerging economies are adopting to catapult their rise as global sourcing ...

National :International Labour Organization hosts policy dialogue with Andhra, Odisha to build MSME ecosystem for sustainable growth

The International Labour Organization on Friday hosted a Policy Dialogue with Andhra Pradesh and Odisha, to understand what sectoral and MSME policy approaches and initiatives emerging economies are adopting to catapult their rise as global sourcing ...