Posted on 16 March 2012
A. Ramesh. Kumar, Chairman of the SME Chamber of India, speaking at the Dylan Thomas Centre
The University of Wales last night played host to a networking event which marked a newly struck collaboration with SME representatives from one of the world’s fastest-growing economies.
Delegates from the Small & Medium Business Development Chamber of India (SME Chamber of India) arrived in Wales on Monday to meet with representatives of the University’s Global Academy to share best practice on how to bridge the gap between academia and industry.
Wednesday’s event, held in the Dylan Thomas Centre in Swansea, was an opportunity for Welsh businesses with an interest in collaborating with Indian companies to invest in India.
The Global Academy will be working with the SME Chamber of India to further develop and enhance the trade potential between the SMEs in India and Wales.
The Indian delegates are interested in meeting Welsh SMEs with high growth potential and will assist in facilitating joint ventures, acquisitions, inward and outward investment, technology transfer and research collaborations with their members.
Indian businesses are becoming growingly competitive, and with the world economy still reeling from the effects of the global downturn the SME Chamber of India believe that increased competitiveness and productivity is integral to their survival.
Integrating academia and industry is vital to ensuring the prosperity of India’s business, says A. Ramesh. Kumar, Chairman of the SME Chamber of India:
“Coming to Wales has given me an increased understanding of the entrepreneurial effort which is being applied here at the University of Wales, to cultivate a strong network of knowledge between higher education and SMEs.
“My hope is that this visit will help Welsh and Indian SMEs work closer together for the mutual benefit of our great countries.”
Sasi Dash, Vice Chairman of the SME Chamber of India, added:
“This is an exciting time for us. I am amazed at the President’s (Professor Marc Clement) spirit of enterprise and his ability to juggle the complexities of academia and entrepreneurship. I look forward to sharing the knowledge I’ve learnt from my time here with my colleagues in India.”
It is estimated that around 17 million SMEs currently operate in India which account for 40% of India’s industrial manufacturing output and 49% of its exports.
The University is currently looking to recruit two research scholars to be embedded in the SME Chamber of India’s Mumbai headquarters.