To boost MSME growth, Maharashtra Govt plans to set up VC fund for export-oriented units

New Delhi, June 27 (KNN) Emphasizing on Government of Maharashtra's policy initiatives for enhancing trade and MSME growth, Minister for Food and Drugs Administration, Tourism and Protocol, Jaykumar Rawal said that Maharashtra government will soon set up a Venture Capital Fund for Export-oriented Units.

Speaking on the occasion of the 18th World Trade Centers’ Association Day organized by MVIRDC World Trade Center Mumbai, he stated “Under its ‘New Industrial Policy, 2019, the state government is in the process of setting up Export Promotion Council, Export-cum-Convention centers in different regions and it will soon introduce a venture capital fund for export-oriented units.”

Appreciating Government of Maharashtra's partnership with World Trade Center Mumbai to promote exports from various districts in the state, Rawal remarked that the state government is working with the Center for its ongoing World Trade Day programs across various districts.

He said “On behalf of Government of Maharashtra, I assure regular and continued support to World Trade Center Mumbai in its future endeavours, as well."

Addressing the gathering, Chairman, MVIRDC World Trade Center Mumbai, Kamal Morarka, said, "Through networking and technological advancements, today WTCs across the world are well connected and they bring in innovation. General Assembly, the flagship event of World Trade Centers Association enables exchange of ideas and best practices among these WTCs in international trade promotion."

Proposing the Vote of Thanks, Vice Chairman, MVIRDC World Trade Center Mumbai and Board Director – World Trade Center Association, New York, Kalantri asserted, "Maharashtra's exports can be enhanced by handholding MSMEs, women-owned enterprises, industry clusters and startup enterprises to foray into the global market."

Assuring MVIRDC WTC Mumbai's support to Government of Maharashtra's research initiatives, Kalantri suggested that the Center can conduct studies in identifying trade opportunities in the food, drugs and tourism sectors.