Video: Indian MSME exports have a lot of competition currently, says PHD Chamber’s Vipin Vohra

Trade, import, export for MSMEs: Vipin Vohra, Chair, Civil Aviation Committee, PHDCCI and Chairman, Continental Carriers. explains what kind of products are seeing a surge in exports, what role government’s export policies are playing in exports growth and more.

Written by MSME Desk

April 12, 2023 19:31 IST

exports, cross border trade, export competition, msme exports, global trade, msme share in exports, phd chamber of commerce and industry, small business exports, india's exports

Trade, import, export for MSMEs: Global trade growth is likely to remain subdued in 2023 as the world economy navigates through multiple shocks including the ripple effects of the Russia-Ukraine war, inflation, looming recession, and more. According to the World Trade Organization (WTO), global trade is likely to see only one per cent growth this year, down sharply from its earlier forecast of 3.4 per cent.

On the other hand, the share of MSMEs in India’s exports had declined to 45.04 per cent in FY22 in comparison to 49.75 per cent during FY20 and 49.35 per cent during FY21 while India’s exports jumped 34.63 per cent from $313.3 billion in FY20 and 44.5 per cent from $291.8 billion in FY21 to record $421.8 billion in FY22, according to the government data.

Also read: FE SMExports Summit 2023: India’s top MSME voices share blueprint for scaling up exports

Amid these challenges, what kind of products are seeing a surge in exports, what role government’s export policies are playing in exports growth and what positive impact India’s trade deals can have in improving MSME exports, explains Vipin Vohra, Chair, Civil Aviation Committee, PHDCCI and Chairman, Continental Carriers.