TRACE and the Federation of Indian Micro and Small & Medium Enterprises (FISME) partner to raise anti-bribery compliance standards among SMEs in India

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Jul 25, 2019, 08:00 ET

ANNAPOLIS, Md., July 25, 2019 /PRNewswire/ -- TRACE, the globally recognized anti-bribery business organization, and the Federation of Indian Micro and Small & Medium Enterprises (FISME) have announced a strategic partnership to raise anti-bribery and due diligence standards in India.

Through this partnership, members of FISME have the opportunity to complete TRACEcertification, a heavily benchmarked and comprehensive due diligence review, analysis and approval process establishing that an individual or organization has been thoroughly vetted, trained and certified by TRACE.

Completion of TRACEcertification will allow FISME members to serve as pre-vetted and trained business partners for multinational companies seeking to do business with suppliers, agents and consultants that share their commitment to transparency in business.

"Indian SMEs are increasingly getting connected to global value chains (GVCs), and TRACEcertification will help them immensely in linking to the GVCs and help in greater market access in the United States," FISME Secretary General Anil Bhardwaj said.

TRACE has over 500 multinational members and clients located worldwide and works to advance commercial transparency.

FISME is a progressive Indian NGO committed to promoting entrepreneurship and facilitating the creation of a competitive environment within India and improving market access for micro, small and medium enterprises in India and abroad.

"We look forward to working with FISME to help SMEs in India train their employees, improve their compliance, enhance their reputation and gain exposure to prospective global business partners by completing TRACE Certified Due Diligence," TRACE President Alexandra Wrage said. "Anti-bribery efforts remain at the forefront of many public and private sector initiatives in India, making this partnership particularly timely."

TRACE engages in strategic partnerships with organizations worldwide that share its mission to promote transparency in international business and to achieve a common standard for anti-bribery compliance and third party due diligence. To learn more, visit TRACEinternational.org/partnerships.

About TRACE
TRACE is a globally recognized anti-bribery business association and leading provider of shared-cost third party risk management solutions. Members and clients include over 500 multinational companies located worldwide. TRACE is headquartered in the United States and registered in Canada, with a presence on five continents. For more information, visit www.TRACEinternational.org.

About the Federation of Indian Micro and Small & Medium Enterprises (FISME)
The Federation of Indian Micro and Small & Medium Enterprises (FISME) is a progressive Indian NGO committed to promoting entrepreneurship and facilitating the creation of a competitive environment within India and improving market access for micro, small and medium enterprises in India and abroad. FISME was established in 1995 but traces its origins to 1967, when the National Alliance of Young Entrepreneurs (NAYE) was established to promote small industries. To learn more about FISME, visit fisme.org.in.

SOURCE TRACE