Letter of Intent Signed; Formal MoU to Follow Soon
Lucknow: The Associated Chambers of Commerce and Industry of Uttar Pradesh (ACCI UP) and the Wadhwani Foundation have announced a strategic collaboration aimed at strengthening the growth, competitiveness, and scalability of Micro, Small and Medium Enterprises (MSMEs) across Uttar Pradesh. Both organizations have signed a Letter of Intent (LoI), with a formal Memorandum of Understanding (MoU) expected to be finalized in the coming weeks.
The proposed partnership builds upon the success of the recently organized International MSME Day programme, “Export Growth in a Changing Landscape,” which brought together export-oriented enterprises, industry leaders, and ecosystem stakeholders to discuss global trade opportunities, Free Trade Agreements (FTAs), export incentives, market access strategies, and pathways for international business expansion.
Under the collaboration, ACCI UP and the Wadhwani Foundation will jointly identify and support high-potential MSMEs through structured business acceleration programmes, expert mentoring, leadership development initiatives, founder roundtables, and ecosystem engagement activities designed to foster sustainable growth.
The initiative aligns closely with the Uttar Pradesh Government’s vision of transforming the state into a US$1 trillion economy by strengthening MSMEs, promoting entrepreneurship, encouraging innovation, enhancing business capabilities, and generating employment opportunities. Through this partnership, both organizations aim to equip enterprises with the tools, networks, and growth frameworks required to scale effectively and contribute significantly to the state’s economic transformation.
Speaking on the occasion, Er. D.P. Singh, President, ACCI UP, said:
“ACCI UP remains committed to creating a vibrant and competitive business ecosystem across Uttar Pradesh. Our partnership with the Wadhwani Foundation will help provide MSMEs with structured growth opportunities, knowledge-sharing platforms, market linkages, and capacity-building initiatives that can strengthen enterprises throughout the state.”
Amresh Sinha, Uttar Pradesh State Head, Wadhwani Accelerate Program, Wadhwani Foundation, highlighted the critical role of MSMEs in the state’s economy.
“MSMEs are the backbone of Uttar Pradesh’s economic growth and employment generation. Our collaboration with ACCI UP reflects a shared commitment to empowering ambitious enterprises with acceleration support, mentorship, and strategic guidance necessary to scale successfully and contribute to Uttar Pradesh’s journey toward becoming a US$1 trillion economy.”
Manish Agarwal, Senior Vice President, ACCI UP, emphasized Uttar Pradesh’s contribution toward India’s goal of becoming a US$5 trillion economy. He credited the efforts of Chief Minister Yogi Adityanath in establishing the state as a major hub for religious tourism and underscored the need for a dedicated manufacturing policy to further accelerate industrial development.
Dr. Kiran Singh, Chairperson of the Women Entrepreneur Wing, ACCI UP, highlighted the transformative role of women entrepreneurs in the MSME sector. She noted that women-led enterprises play a vital role in economic growth, employment generation, social development, and reducing regional economic disparities.
Shweta Singh, Venture Success Manager, Uttar Pradesh, Wadhwani Foundation, stressed the importance of continuous learning and capability enhancement, stating that today’s MSMEs must evolve beyond survival and focus on sustainable scaling to become the next generation of successful enterprises.
The event was attended by several distinguished members of ACCI UP and the Wadhwani Foundation, including Ramesh Malhotra, Abhinav Singh, D.K. Mishra, S.K. Jaggi, Sudhanshu Srivastava, Siddharth Chaturvedi, and other senior industry leaders and stakeholders.
The proposed partnership is expected to create new opportunities for MSMEs across Uttar Pradesh, fostering innovation, competitiveness, and long-term economic growth.
