Digital payments company PayPal and the Federation of Indian Export Organisations signed an agreement for the promotion of outbound shipments among small and medium enterprises leveraging the partner’s expertise and technology products. PayPal will work with FIEO to educate SMEs on how to leverage global opportunities, help them receive money in a safe and timely manner with PayPal products like invoicing as well as inform them of global best practices.
The MoU will help FIEO reach the cottage industries, artisans, house-wives, youths, MSMEs, and clusters, even in far-flung areas to develop their orientation towards exports. This MoU will essentially focus on training Indian SMEs in various aspects of exports and familiarise them with global growth opportunities. The partners will host programmes and seminars to educate and work towards simplifying the processes for the SMEs. FIEO, which has over 25,000 members, contributes to more than 70 percent of India’s exports.