Press Information Bureau

Government of India

Ministry of Commerce & Industry

01-February-2012 17:32 IST

Sourcing from MSME will be Rewarding to the Investors: Anand Sharma India EU FTA Negotiations in the Final Stage Addresses World CEO Sustainablity Summit

Shri Anand Sharma the Union Minister of Commerce, Industry & Textiles addressed the 9th World CEO Sustainability Summit, centred on the theme of ‘Doing Business while protecting the Global Commons’. Shri Sharma in his address said that,” India, has made significant headway in ensuring sustainable development in the recent past, not only from the perspective of government policy but significantly, in terms of corporate leadership displayed in developing and supplying renewable energy in the country”.

The Minister during his speech observed, that The Kyoto Protocol recognizes principles of common but differentiated responsibility and respective capabilities in dealing with the challenge. We have acknowledged the fact that countries across the world have different levels of development; have differing abilities in adopting mitigation and adaptation measures for climate change. India has also taken voluntary domestic mitigation actions following the Copenhagen accord and it shall be our endeavour to reduce our emission intensity by 20-25% within this decade, compared to 2005 levels. “The Kyoto Protocol must be adhered and sincerely followed by all countries. What has been agreed in past has to be honoured,” he added.

Referring to the need for more jobs the Minister said that it is our imperative to go for a new National Manufacturing Policy. “Our two-third population are young; we need to devises innovative ways so that they participate in the journey of development is ensured. It’s not an option but a compulsion to create 100 million jobs by 2020.” Minister also said that keeping the concerns of the environment the new national manufacturing policy has incentivised the green and clean technologies. There is a green thread that runs across the whole plan.

Replying the query on the local sourcing norms from MSMS’s on the single brand retail, Shri Sharma said that, “Domestic sourcing norms in single brand retail is a well-considered policy decision and sourcing from MSME from within the country is matter of experience which will tell us that sourcing will be rewarding for investor”.

Answering to the query of India-EU FTA the Minister said, “India EU FTA are in the final stage, we had meeting with the EU in India and abroad we are nearer to the completion of the FTA.”

On the issue of increasing exports to Iran so as to make payment to be settled by a barter system, Shri Sharma said, “Trade has been healthy between the two countries and whatever is exportable has always been going. There has not been any restriction on Indian companies doing trade of commodities with that country”.

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DS/gk

Domestic sourcing norms in single brand retail promote MSME participation and are expected to be rewarding for investors. Domestic sourcing norms for single brand retail are affirmed as a considered policy decision mandating and incentivising procurement from MSMEs within the country, with sourcing from MSMEs described as commercially attractive and rewarding for investors; this sourcing requirement is presented as part of a broader policy agenda that also reiterates voluntary domestic emission intensity reduction commitments, a National Manufacturing Policy incentivising green technologies, and ongoing final stage negotiations on an India-EU Free Trade Agreement.