ILO hosts Conclave to promote sustainable enterprises and local sustainable development in India

The ILO hosted the Conclave on “Promotion of Sustainable Enterprises for Local Development” on 24 November. The Micro, Small and Medium Enterprises (MSME) sector accounts for two-thirds of all jobs globally, which made this an important event to mark the post-pandemic recovery trajectory of the country.

The Conclave deliberated on the unique challenges faced by MSMEs and start-ups in sustaining competitiveness responsibly and identifying effective strategies to overcome these and making them future-ready; fostering discussion and exchange of innovative approaches on the formalization of enterprises, entrepreneurship, value chain and cluster or sectoral development models to achieve the twin objective of inclusive growth and Decent Work for All; identifying policy measures, FDI and investment strategies, regulatory frameworks, and partnerships that can create a conducive environment for the promotion of sustainable enterprises and green transition and facilitating networking opportunities among participants, allowing for collaborations and partnerships and enhance South-South and North-South Cooperation.

Policymakers and government officials from Bangladesh, Indonesia, India, Vietnam, Korea, and South Africa, along with other stakeholders integral to the MSME value chain and the ILO’s tripartite constituents, attended the event. Panellists highlighted the importance of collaboration between the public and private sectors in enhancing local, sustainable development through the MSME sector. Given that the sector is confronted with digital transformations due to high investment, lack of resources or exposure or infrastructure, they underlined the importance of government interventions in making the sector competitive.

The Promoting Sustainable Enterprises in India project, supported by KOICA, has been working in Andhra Pradesh and Odisha in the textile and food processing sectors and has helped promote local sustainable development by learning the best practices from South Korea. Through these efforts, the ILO supports the localisation of sustainable development, which in turn promotes the economic development of the country.