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CII signs MOU with ADS for opportunities in aerospace, defence, security and space sectors.

London, Sep.28 ( ANI ): To promote and explore opportunities for cooperation among the SMEs in the Aerospace, Defence, Security and Space, CII signed a MoU with ADS, in Cardiff, Wales, UK. The MoU was signed in the presence of Dr. Jaimini Bhagwati, High Commissioner of India to the UK, Rt. Hon. Carwyn Jones AM, First Minister of Wales and Mr H P Kumar, Chairman and Managing Director, National Small Industries Corporation (NSIC), on the sidelines of the 3rd India UK SME Business Meet.

CII SME delegation led by Mr Deep Kapuria, Chairman, CII National MSME Council and Chairman, Hitech Gears Ltd is participating at the India UK SME Business Meet (27 - 28 September 2012), in Cardiff, organised jointly by the Indian High Commission (in London, UK) and the Welsh Government.

Speaking at the occasion, Mr Deep Kapuria, Chairman, CII National MSME Council and Chairman, Hitech Gears Ltd said that - "Both ADS and CII will work together in establishing programmes in Aerospace, Defence, Security and Space, which will encourage greater sharing of expertise and experience between SMEs and developing linkages with relevant agencies tasked with supporting SMEs".The MoU will enable us to upscale the Indian SMEs to the high global standards in the four (4) sectors, and CII will work closely with both the Ministry of MSME and the National Small Industries Corporation (NSIC), (the two key stakeholders in the Indian SME space) in this direction, he added.

Citing the MoU as the milestone in the agenda of the Joint Economic and Trade Committee (JETCO) between UK and India, Mr Deep Kapuria added that cooperation in the area of Advanced Manufacturing (in addition to Clean Technology and Sustainability) assumes top priority and this MoU will guide the way forward. He also underlined the capabilities of the Indian Mid size companies to invest overseas and called for joint investments through Venture Capitalists and related financing institutions, in sectors (such as Green Businesses and Sustainable development) dominated by Advanced Manufacturing.

Drawing a comparison between the SMEs in India and the United Kingdom, Dr Jamini Bhagwati, High Commissioner of India to the UK mentioned that in India SMEs contribute 8% to our GDP, 45% of manufactured output and 40% of Indian exports. Whereas, the SME sector's contribution to the UK GDP is over one-third. Therefore the Indian entrepreneurs have to learn how the SMEs play a critical role in the UK economy , he added.

According to Dr Jamini Bhagwati, High Commissioner of India to the UK, the Indian SMEs are increasingly waking up to the realization that technology is going to play a crucial role in the sustainable development-a key factor in staying competitive in a fast paced global scenario. Support for the creation of new ventures and spin-offs from research institutions and large companies, as well as the removal of barriers to their rapid growth and support for the transfer of know-how, also deserve to be accorded the highest priority, by both the British and the Indian Government, he added.

Earlier, Rt. Hon. Carwyn Jones AM, First Minister of Wales said that SMEs will form the basis of trade and economic cooperation between UK and India.Their ability to exploit new technologies, and to respond quickly to changing market needs, would give SMEs a pivotal role in the success of the Global economy.

ADS is the trade body advancing UK Aerospace, Defence and Security industries with Farnborough International Limited as a wholly owned subsidiary. It encompasses the British Aviation Group (www.britishaviationgroup.co.uk), Farnborough International Limited (www.farnborough.com) and is a major sponsor of UK Space (www.ukspace.org). Together with its regional partners ADS represents over 2,600 companies. The regional partners of ADS are: ADS Scotland, ADS Northern Ireland, Aerospace Wales, Farnborough Aerospace Consortium, Midlands Aerospace Alliance, Northern Defence Industries, Northwest Aerospace Alliance and the West of England Aerospace Forum. ( ANI )

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Publication:Asian News International
Geographic Code:9INDI
Date:Sep 28, 2012
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