SDG 8: Decent Work and Economic Growth | SDG 9: Industry, Innovation and Infrastructure
Institutions: Ministry of Commerce & Industry | NITI Aayog
At the 31st Asia-Pacific Economic Cooperation (APEC) SME Ministerial Meeting in Jeju, economies agreed on the urgent need to support small and medium enterprises (SMEs) contending with global economic disruptions. SMEs in the region comprising about 97% of businesses have delivered over 60% of net employment growth in half of APEC economies and continue to underpin innovation and inclusive development. Ministers highlighted three core priorities: enabling technology-driven growth through AI and digital transformation; promoting sustainable adaptation to climate and demographic challenges; and expanding SME access to regional and global markets.
The APEC Business Advisory Council reinforced the need for private sector engagement in digital inclusion, financing, and supply chain integration. The APEC Secretariat noted that USD 14 million has been allocated to 120 SME-centric projects since 2019, focusing on digital adoption, skill-building, and market integration underscoring tangible investments in building entrepreneurial resilience in an era of disruption.
Relevant question for policy stakeholders: How can India adopt a multi-pronged approach combining digital upskilling, climate-sensitive SME policies, and global market access initiatives within its MSME development frameworks to drive resilience and inclusive growth?
Follow full news here: https://www.apec.org/press/news-releases/2025/apec-ministers-commit-to-boosting-smes-resilience-amid-global-uncertainty