Question: Ministry of Commerce & industry is examining the proposal to set up trade promotion bodies in how many countries?
(a) 15
(b)20
(c)25
(d) None of the above
Answer: (a)
Related facts:
- Suresh Prabhu informed the participants of the 15th Global SME Business Summit (19th December, 2018) about the commitment of the Ministry of commerce & industry towards the growth of the SMEs.
- The concept of trade has been changing where larger enterprises increasingly rely on outsourcing the manufacturing activities. This practice has proved quite advantageous to the MSMEs where they can participate in the exports through manufacturing of intermediate products.
- Ministry of Commerce & Industry is examining the proposal to setup trade promotion bodies in 15 countries.
- Ministry is also working on a comprehensive strategy to boost the MSME sector by granting new patents in record time. New Intellectual Property regime is being launched to strengthen the IPRs of Indian MSMEs as well as protecting IPRs of the other countries.
- The 2018-19 Budgets has given a big thrust to Micro, Small and Medium Enterprises (MSMEs) sector to boost employment and economic growth. The budgetary allocation has gone up from Rs. 6481.96 crore in 2017-18 to Rs.6552.61 crore in 2018-19.
Links:
http://pib.nic.in/PressReleaseIframePage.aspx?PRID=1556657#
http://pib.nic.in/newsite/PrintRelease.aspx?relid=176114
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