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Big news for micro, small, and medium enterprises (MSMEs) in Uttar Pradesh! The state has just inked a strategic, non-financial Memorandum of Understanding (MoU) with the Ideas to Impact Foundation under the renowned Walmart Vriddhi Supplier Development Programme. This significant collaboration is set to revolutionize how UP’s local businesses connect with global markets.
Paving the Way for Global Competitiveness
Signed between the Export Promotion Bureau (under the MSME and Export Promotion Department) and Ideas to Impact Foundation, this three-year MoU (with potential for extension) has a clear mission: to elevate the global competitiveness of enterprises across Uttar Pradesh. It aims to empower them to participate more robustly in both domestic and international trade, thereby boosting exports and creating vital employment opportunities by integrating MSMEs into national and global value chains.
What Does This Mean for UP’s MSMEs?
Under this groundbreaking collaboration, MSMEs throughout Uttar Pradesh will receive a comprehensive suite of capacity-building support. Imagine free training and mentorship designed to equip entrepreneurs for success in the modern global marketplace. Key areas of focus include:
- Digital Enablement: Getting businesses ready for the digital age.
- E-commerce Preparedness: Mastering the art of selling online, both domestically and internationally.
- Packaging Standards: Ensuring products meet global quality and presentation benchmarks.
- Quality Compliance & Certifications: Adhering to international standards for credibility and market acceptance.
- Market Access Strategies: Learning how to effectively reach and engage with global buyers.
This initiative will provide entrepreneurs with the tools and knowledge needed to thrive on cross-border e-commerce platforms, opening up a world of possibilities.
In Harmony with UP’s Export Promotion Policy
This partnership isn’t just a standalone effort; it perfectly aligns with the Uttar Pradesh Export Promotion Policy 2025–30. This forward-thinking policy places a strong emphasis on e-commerce-led exports. To further sweeten the deal, first-time exporters are eligible for a one-time incentive covering 75 percent of e-commerce platform listing fees, capped at an impressive Rs 3 lakh. This measure is a game-changer, significantly reducing entry barriers and smoothing the path for UP’s exporters to access global markets.
Industry Leaders Applaud the Move
The announcement has been met with widespread enthusiasm from industry stalwarts.
“Uttar Pradesh is fast emerging as a key hub for exports and e-commerce in the country. MSMEs form the backbone of the state’s economy, and this partnership is expected to expand market access and create new growth opportunities,” stated Alok Kumar, Additional Chief Secretary, Infrastructure and Industrial Development, MSME and Export Promotion and NRI Department.
Mukesh Singh, Chairman, UP Co-ordination Committee of the Indo-American Chamber of Commerce, also lauded the initiative, highlighting the common challenges faced by small businesses—access to global buyers, adherence to international quality standards, and digital readiness. He emphasized that programs like Walmart Vriddhi are crucial in bridging these gaps and accelerating export growth from the state.
A Bright Future for UP’s MSMEs
This strategic alliance between Uttar Pradesh and Walmart Vriddhi marks a pivotal moment for the state’s MSMEs. By providing comprehensive training, mentorship, and aligning with a supportive export policy, UP is not just encouraging its businesses to grow, but empowering them to truly compete and succeed on the global stage. Get ready to see more ‘Made in UP’ products making their mark worldwide!
Source: Original Article
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