PayPal, the digital payments firm, and the FIEO (Federation of Indian Export Organizations) this week inked a deal for marketing of outbound shipments amongst SMEs (small and medium enterprises) using the technology goods and expertise of the partners.
As fraction of the deal, PayPal will operate with FIEO to teach SMEs on how to use worldwide opportunities, assist them get money in a timely and safe way with PayPal goods such as invoicing. In addition to this, it will also inform them of worldwide best practices.
“The MoU will assist FIEO get hands on the artisans, cottage industries, youths, house-wives, clusters, and MSMEs, even in far-flung regions to expand their course towards exports,” Ajay Sahai, the CEO and Director General at FIEO, claimed to the media in an interview.
He claimed that these efforts will also give confidence to startups and entrepreneurs to move to exports without any complexity.
“This MoU will fundamentally aim on teaching SMEs of India in different features of exports and familiarize them with worldwide development opportunities. Particular inherent obstacles have deterred the SME segment of India from performing to its real potential,” claimed Anupam Pahuja, the Country Manager and Managing Director at PayPal India, to the media in an interview.
The associates will host seminars and programs to work and educate towards easing the procedures for the SMEs.
FIEO, which has more than 25,000 candidates, adds up to over 70% of exports in India.
Most of the small exporters from India aim on the domestic market to push away from the challenges related with working in a worldwide marketplace. Complicated exports and shipping processes also act as a deterrent.
“The alertness programs will deal with some commonly encountered hurdles by SMEs and involve training to authorize them with solutions from PayPal customized for this sector,” Pahuja claimed to the media.