Ministry of MSME, GoI partners with Telangana Government for BioAsia 2020

The Micro, Small and Medium Enterprises (MSME) sector has emerged as a dynamic sector of the Indian economy over a few years. It contributes significantly to the economic and social development of the country by encouraging entrepreneurship and generating large scale employment opportunities. As per an Industry Survey, the MSME sector in India has created 13.5 million to 14.9 million new jobs in the past four years according to a CII’s Survey on Jobs Creation and Outlook in MSME Sector. Also, another industry report suggests that the contribution of the MSME sector to the Indian economy is around 29 per cent of the GDP.

With the growing prominence of the MSME sector in the Indian economy, The Ministry of Micro, Small and Medium Enterprises, Govt of India has partnered with the Government of Telangana for BioAsia 2020 again  from February 17-19 to help MSME organisations benefit from this global platform. Given that the MSMEs contribute to over 80 per cent of the Indian Lifesciences industry and has been an important pillar for the job creation, the partnership is of extreme significance aimed at adding impetus to the growth of MSME sector in the country.

BioAsia has evolved as a pre-eminent global meeting benefitting from its extraordinary participant history including Nobel Laureates, Lasker Awardees, Breakthrough Prize winners, established scientific and industry leaders, amongst others. Switzerland will be the partner country, while delegations from various countries like Germany, Spain, Australia, UK, USA, China, etc. will participate in the event. MSME companies will gain unparalleled access to explore new business opportunities with leaders representing about 50 Countries.

Commenting on the rising sector’s participation, Jayesh Ranjan IAS, Principal Secretary, Industries & Commerce, and Information Technology, Government of Telangana said, “Micro, Small and Medium enterprises are one of the most important pillars of the economic growth of the country and is rightly called as ‘The engine of the growth’. MSMEs have played a significant role in terms of creating employment opportunities along with innovation.

BioAsia which has emerged as one of the highly regarded platforms in the life sciences sector will bring together the cutting-edge, innovative and technologically oriented MSMEs from the realm of life sciences and healthcare sectors. We are delighted to partner with Ministry of MSME for the second time for BioAsia and am confident that the platform will help MSMEs companies.”

BioAsia 2020 is set to host eminent global leaders from the life sciences industry including Vas Narasimhan (CEO, Novartis), Dr Carl June (University of Pennsylvania & CAR-T Expert), Dr Peter Piot (Director, London School of Hygiene and Tropical Medicine, and Co-Discoverer of Ebola), Ajay Piramal (Chairman, Piramal), Dilip Sanghvi (Chairman, Sun Pharma), Kiran Mazumdar Shaw (CMD, Biocon), Satish Reddy (Chairman, Dr Reddy’s), among others.

Objectives of the partnership:
• To provide a platform for the MSME sector to showcase the strength and capabilities of Indian MSME companies to the global life sciences fraternity
• Offers unique marketing opportunities to MSME Entrepreneurs including access to diverse technologies
• Offers a platform to establish joint ventures, tapping into crucial supply chain partnerships, technology transfers, marketing arrangements and image building of Indian MSMEs across the world
• To foster awareness regarding international best practices that enhance their business prowess
• To provide a platform for MSMEs in understanding emerging global trends and learn about ways to safeguarding their innovation (Intellectual Property)
• To enhance marketing avenues for MSMEs by way of capturing new markets and expanding in existing markets.