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UK firm launches MSME business programme in India

Tide has already committed to empower 500,000 women-led small businesses in India by 2027 and promised a £100m investment in the country.

CEO of Tide Dr. Oliver Prill at the launch of MSME Exchange Programme. Image - Tide

The UK's leading SME-focused business fintech company, Tide announced the launch of first-of-its-kind Micro, Small and Medium Enterprises (MSME) Exchange Programme (MEP) in India to advance export and entrepreneurship at a global level.

The programme aims to foster bonds between small business owners from India and the UK, according to an official statement from the company. Under the MEP, Tide members from the UK and India will be benefited with information and knowledge-exchange regarding product, regulatory compliance, legal frameworks, entrepreneurship, ease of doing business, and networking.

On the launch of the MEP, CEO of Tide, Dr. Oliver Prill said, "Through the MSME Exchange Programme, Tide is taking a huge step in championing small businesses and fostering bonds between small business owners in the UK and India. We recognise that they have shared ambitions, including exporting their goods and services between the two countries, which share historic ties.”

Reacting to Tide initiative in India, British High Commissioner to India, Alex Ellis lauded the UK-India business relation and  congratulated Tide on adding to the India-UK success story. He shared, “Prime Minister Sunak and Prime Minister Modi have reiterated the huge opportunities that closer trade and investment ties offer British and Indian businesses and consumers. Our investment relationship already supports nearly half a million jobs in each other’s economies."

Under the initiative, the company will choose and sponsor two entrepreneurs every quarter from both the countries to visit the UK and India, the company shared. A total of 16 small businesses, 8 from each country will benefit from the programme which starts on June 1, 2023 and ends on May 30, 2024.