Government on 18 January approved signing of a Memorandum of Understanding (MoU) between India and the United Arab Emirates for cooperation in the field of small and medium enterprises (SMEs) and innovation.

The decision was taken at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi.

“The MoU would benefit Indian small and medium enterprises (SMEs) and lead to equitables and inclusive development. The exposure to best practices in SME sector abroad would provide an opportunity to Indian SMEs to improve upon them and innovate further,” an official statement said.

The collaboration would also provide an opportunity to Indian SME sector to have a mutually beneficial relation with SME sector of the United Arab Emirates and to explore their markets.

Source: The Economic Times