Trade, import and export for MSMEs: The export of MSME-related goods increased to $189,768 million during FY22 from $143,823 million during FY21, registering a positive growth of 31.9 per cent, according to the government data. During April-December FY23, the value stood at $147,060 million (43.7 per cent share in India’s total exports) as compared to $138,922 million during the year-ago period (with 45.5 per cent share in total exports), registering a growth of 5.9 per cent.
The growth in MSME exports comes on the back of the enhanced government focus on boosting Indian exports via multiple measures such as free trade agreements signed with multiple countries, One-District One-Product exports, export-oriented schemes such as Trade Infrastructure for Export Scheme (TIES) and Market Access Initiatives (MAI) scheme, etc.
Also read: MSMEs’ 45% export share includes contribution of large units too: DGFT’s Prafulla Chandra Mishra
More importantly, it has come against the backdrop of world manufacturing gradually shifting base to other countries beyond China to diversify geopolitical and economic risks. For India and other developing countries, according to Animesh Saxena who runs apparel manufacturing and export firm Neetee Clothing, export is the only option to grow faster in such a world scenario. He explains more on trade challenges and whether anti-China sentiment globally has helped Indian exporters.
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