DUBAI: Global India Collaborative (GIC), a new initiative to facilitate global outreach for the Indian MSME sector, was launched on Monday during the Dubai World Expo 2020 with the express aim of helping Indian MSMEs find new markets and investments.
"The MSME sector is the largest job provider in India. It is also the backbone of our economy. We need to strengthen this sector in order to strengthen our economy. The GIC would establish 12 chapters across the world. The first three chapters would be set up this year in the US, UK and Singapore. These chapters would help Indian MSMEs find new markets and capital to grow their businesses," said Santosh Mangal, Global President of GIC, which is set up as a Section 8 company.
Mangal said, "Many bridges are required to be built between the Indian industry and the world in order to globalise our businesses by making them adopt global best practices and making them globally competitive. GIC is one such bridge. It will help India realise Prime Minister Narendra Modi's dream of making India a five trillion-dollar economy."
Dozens of companies, organisations and associations have already joined the GIC as the organisation aims to act as a link between government and business.
India showcased at the Expo 2020 Dubai its rapid economic growth and the opportunities it presented to businesses around the world. The Expo 2020 platform has been used by Indian businesses to gain further global traction. Daily conferences, cultural performances, film shows were organised and cuisines from across India were presented.
Commerce and Industry minister Piyush Goyal announced that the four-storeyed, one-lakh square feet Indian pavilion would not be demolished and it would remain at the site as a permanent structure.
The six-month-long Dubai Expo 2020 comes to a close on March 31, 2022.