Cross-border Entrepreneurship Will Create Employment, Build Sustainable Business

Minister of State for Finance Dr Bhagwat Karad and Chief Economic Advisor V Anantha Nageswaran assured Indian MSME stakeholders of employment-centric government policies with a special focus on young micro entrepreneurs from underserved communities and urged G-20 countries to collaborate on integrating MSMEs into sustainable global value chains on Wednesday.

Cross-border collaborations and knowledge exchange between MSME entrepreneurs from India, Europe, North America and other G-20 nations will help fight unemployment and build sustainable business opportunities, said the speaker.

Multiple MSME sector stakeholders from India, Canada, China, France, Germany, UK and industry leaders participated in the Global Plenary on Inclusive Entrepreneurship - in Conversation with Young Entrepreneurs organised by Bharatiya Yuva Shakti Trust (BYST) and Futurpreneur, G20 YEA Canada.

Participants examined the significance of Environmental, Social and Governance (ESG) activities and looked at policies, obstacles encountered, and suggested means for developing a resilient and inclusive economy.

India, in collaboration with the G-20 countries, has been encouraging knowledge exchange between entrepreneurs and has stepped up efforts to foster micro-entrepreneurship and new employment opportunities with a special focus on women, tribal or indigenous and other underserved communities and ensure the adoption of successful and sustainable ‘net zero’ goal business models for the growth of the MSME ecosystem in India, the G-20 and other developing countries,” the meeting agreed after deliberations on how MSMEs can help eradicate employment, which has become one of the pressing issues globally for policymakers and industry leaders.

The meeting saw a diverse group of stakeholders, including grassroots entrepreneurs, who shared their best practices, explored collaborative opportunities, and celebrated the transformative power of inclusive entrepreneurship.

This half-day summit also delved into the concept of the circular economy, exploring how enterprises can adopt sustainable practices, minimise waste and create a positive environmental impact through innovative business models.

An exclusive Green Business Idea Contest for the rural youth of Kagaznagar, Telangana was launched remotely by Dr Karad. An MoU between BYST and The Sirpur Paper Mills was signed in his presence to promote Social and Green Entrepreneurship.