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PayPal-CII partner to enable Indian MSMEs connect with global consumers
PayPal-CII partner to enable Indian MSMEs connect with global consumers
PayPal India and Confederation of Indian Industry (CII) hosted a webinar highlighting the opportunities for Indian MSME’s to tap into the global consumer value chain and increase export of Made in India goods and services
Bengaluru: PayPal India and Confederation of Indian Industry (CII) hosted a webinar highlighting the opportunities for Indian MSME's to tap into the global consumer value chain and increase export of Made in India goods and services.
Inaugurating the conference Tejasvi Surya, Member of Parliament said, "India's advancing digital infrastructure & fintech solutions provided by the likes of PayPal - especially low transactional costs, available to MSMEs in Karnataka will go a long way in empowering small businesses to adopt latest tech solutions and increase productivity." While appreciating CII and PayPal's initiative, he said this endeavour will help enable new export economy for MSMEs in Karnataka, create ease of living with smooth processing of foreign inward remittances & develop world-class fraud protection for the small and micro enterprises.
"I compliment CII-PayPal in the collective efforts to democratize trade and inclusive growth for India's small business or MSMEs. With fintech digital platforms such as PayPal, exports and trade are not only limited to large businesses but provide equal opportunity for all Indians to participate in global trade and value chain." Surya said.
Nath Parameshwaran, Director, Corporate Affairs, PayPal India said "Indian MSME's are the backbone for the economy and have been most impacted by the pandemic. PayPal in association with CII is partnering with state governments to provide tools and avenues to help these businesses revive. MSMEs have huge potential for exports, job creation and economic recovery in the post-COVID world; As they move towards digital adoption, PayPal is enabling them to sell globally in a safe & seamless manner, seize constructive opportunities & reach maximum potential, to compete in the global market. At PayPal, our focus is on democratizing financial services and strengthening digital trade.
Mr Ramesh Ramadurai, Vice Chairman CII Karnataka said that there is a special focus on the MSME sector to strengthen its scale in Karnataka.
"The policy mentions funding (VC fund, angel funding), providing subsidies for allocating spaces to entrepreneurs to set up business, technological support and good infrastructure among the facilities to be extended for the growth of the sector in the state. Karnataka is working on the policy front to provide a supportive business environment. There is a recent announcement on land and labour reforms that will help industry set up faster and operate more efficiently," he added.
The PayPal-CII initiative aims to particularly empower India's IT services & IT-led freelancing community, to service global clientele.
