MSME exports may go up as government plans this mega move to help small businesses sell more abroad

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Published: February 27, 2020 5:45:22 PM

Trade, Imports, Exports for MSMEs: Currently, MSMEs share in India’s total exports stands at nearly 50 per cent even as the government is looking to increase it to 75 per cent.

The unified portal will also act as a bank of ideas and innovations carried out by MSMEs.

Trade, Imports, Exports for MSMEs: MSMEs may soon have a unified portal to access every information related to exports as the government is planning to set-up a ‘global market intelligence system’, according to MSME Ministry Joint Secretary Arun Kumar Panda. Speaking at the National MSME Awards on Wednesday, Panda said that the information will be made available in 22 different languages. “Surprisingly there are only 33,000 registered MSME exporters as per the figure we have. This means that while MSMEs products are exported but they themselves are not able to export them because they don’t know about documentation, what are non-tariff barriers, what are regulatory requirements, standards etc.,” he said. As a result, MSMEs sell products to export houses and hence the new system will create information about what can be exported where and how, Panda said.

Currently, MSMEs share in India’s total exports stands at nearly 50 per cent even as the government is looking to increase it to 75 per cent. The increase in the GDP share of MSMEs is also aimed from 29 per cent currently to 50 per cent in five years. “The prime minister’s vision of $5-trillion economy will be possible when the share of MSMEs in GDP grows to at least 50 per cent from 29 per cent,” MSME Minister Nitin Gadkari said at the event.

Also read: MSMEs get breather from choking loans; here’s govt’s plan to free them up from immediate repayment

The unified portal will also act as a bank of ideas and innovations carried out by MSMEs that would be tested for their applicability. “Our minister is already saying that we need to have a bank of innovation, ideas and research as MSMEs have a lot of ideas and innovation but nothing happens. We want to bring it to one place so that there can be crowd evaluation of ideas and then we can go out with ideas. We also want to provide networking and mentoring before next year at the same time,” said Panda.

The ministry is also planning to rank states based on the support provided to MSMEs across 4 Es — employment generation, enterprise creation, exports, and ease of doing business. “We will discuss this with NITI Aayog and states so that based on their contribution in these Es, we can rank them so that they are encouraged,” said Panda.

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