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India to set-up SME business clusters in southeast Asia
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SME Times News Bureau | 28 Aug, 2015
India will be setting up business clusters for small-medium scale
industries in Cambodia, Laos, Myanmar and Vietnam to promote Indian
investment in these countries as well as offer cost rationalisation, an
official said on Thursday.
"I would invite you to set-up
businesses in Cambodia, Laos, Myanmar and Laos (CLMV counties) - this is
the new thrust of the government through EXIM Bank (Export-Import Bank
of India). Under a cluster based approach, the country will be setting
up clusters of small-medium enterprises not only in India but outside as
well," bank chairman and managing director Yaduvendra Mathur told
participants during the FICCI Banking Conclave here.
He said the
southeast Asian countries are the new places of opportunity for Indian
businesses to set-up units to rationalise their manufacturing process.
Mathur said entrepreneurs need to rationalise their production process.
Referring
to the Make in India campaign which aims to boost the country's
manufacturing capabilities and draw in investment, he said: "Do some
part of production in India while some of the finishing in the CLMV
countries. If you add 35 percent (of input for the product) in CLMV,
then you satisfy the WTO and trade agreements to the rules of origin."
He said China has been using this method to flood its goods in India.
"China
has been using these countries to pump in products into India. We
didn't understand these when we signed the Free Trade Agreements," he
said.
Besides the focus on southeast Asia, Mathur suggested
businesspeople to focus on the European countries as well for asset
acquisition. He also cited the success of the small-medium enterprises
which put Bangladesh's textile industry as a global leader in the world
map.
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