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Government to promote credit scoring model for SMEs developed by Canara Bank.  

CII Global Business Summit 2014 for SMEs started in the capital this morning. The two-day summit will provide a platform for international SMEs to identify business partnership and enhance connectivity in different countries.

Addressing the Summit, Dr Amedeo Scarpa, Trade Commissioner ITA said that this is the right time to invest in India. Pointing out that SMEs are the backbone of Italian economy, Dr Scarpa said: “we want more Italy in India and more India in Italy”. He said that “Make in India” initiative is a good opportunity for the SMEs in Italy.

Shri SN Tripathi, Joint Secretary, MSME, GOI said that credit is cited as one of the major problems for the SMEs. He said that the Govt would like to promote credit scoring model developed by Canara Bank.

Shri Rajesh Aggarwal, Chief, Business& Trade Policy, International Trade Centre, Geneva pointed out that SMEs are essential for sustainable economic growth in developing economies.

The Summit will provide enormous opportunities to the SMEs from India and various countries to identify potential opportunities in different markets across the globe, international trade – policy and procedures, opportunities for joint ventures, technology transfer and contract manufacturing tie-ups, international business alliance and investment.

The Summit will also provide platform for SMEs to exhibit their products and services, identify their potential suppliers, buyers and enhance their connectivity. Eminent speakers from across the industry and globe will address the Summit to share their experience and expertise.