FIEO, PayPal sign MoU to empower SMEs to scale operations

ANI | Updated: Apr 05, 2018 17:13 IST

New Delhi [India], Apr. 5 (ANI): Global technology and digital payments platform, PayPal, and the Federation of Indian Export Organisations (FIEO), an apex international trade promotion organisation, announced a partnership to promote exports while leveraging the technology and experience of each other.

PayPal will work with FIEO to educate small and medium enterprises (SMEs) on how to leverage global opportunities, help them receive money in a safe and timely manner with PayPal products like invoicing and bring to them global best practices from across 200 markets.

"The Paypal products like invoicing solutions, safe and trusted payment options for buyers, easy integration with existing business systems will help encourage the entrepreneurs and the startups alike to take to exports without any difficulty, without much technical knowhow. All these are in line with the Prime Minister's vision of Make in India, Digital India and empowering the youth for start-up encouragement with export orientation," said FIEO Director General and CEO, Ajay Sahai.

"This MoU will essentially focus on training Indian SMEs in various aspects of exports and familiarise them with global growth opportunities. Certain inherent challenges have deterred the Indian SME sector from performing to its true potential. Our programs and seminars will debunk myths and simplify the entire ecosystem for the SMEs. FIEO's members contribute to more than 70 percent of India's exports," added PayPal India Managing Director and Country Manager, Anupam Pahuja.

Most small exporters from India tend to focus on the local market to steer away from the risks associated with operating in a global marketplace. Complicated shipping and exports procedures also serve as deterrents for this sector which has very high potential. The awareness programs will address some commonly faced challenges by SMBs and entail trainings to empower them with PayPal solutions tailored for this segment. (ANI)