JOHANNESBURG – South Africa should take a leaf out India’s Small, Micro and Medium Enterprise (SMME) sector which is responsible for the creation of jobs and for anchoring the economy, and not big business, South African Consul-General in Mumbai, India, Maropene Ramokgopa said.
Speaking at a seminar hosted by the Department of Trade and Industry (the dti) in Mumbai, she cited the rise of the Indian Information Technology sector as an example.
“This sector grew to become what it is today precisely because of these kinds of initiatives that I have alluded to. Initiatives that had to do with incubation, innovation and research and development," she said.
"I am also very excited that the dti chose Mumbai as one of their stops for the Outward Selling Mission into India and at a time when trade relations between ourselves and our Indian counterparts need to grow bigger. Now this kind of event taking place today allows both South African and Indian businesses an opportunity to actualise some of the agreements our principals have already agreed upon.”
Ramokgopa explained that the Indian government’s successes within the SMME sector were because it identified an industry it would like to develop and then created opportunities for start-ups to grow through incubation initiatives and the awarding of tax breaks as these SMMEs grow.