Port Wings News Network:
Ministry of Micro, Small and Medium Enterprises (MSME) has recently established an Export Promotion Cell with an aim to create a sustainable ecosystem for entire MSME development. The benefits likely to accrue to the MSMEs are:
Evaluate readiness of MSMEs to export their products and services
Recognize areas where improvements are required in order to be able to export effectively and efficiently
Integration of MSME into global value chain.
This was stated by Minister of State (Independent Charge) for Micro, Small and Medium Enterprises, Giriraj Singh in the Lok Sabha recently, while replying to a question.
The MSME Minister further said that the current status of exports from the MSME sector as per the information received from Directorate General of Commercial Intelligence and Statistics (DGCIS), the value of MSME related products is USD 147,390.08 million and share of MSME related products in the country’s exports was 48.56% during 2017-18.
To ensure efficient and effective delivery of all MSME export related interventions, the Ministry proposed to formulate a governing council that will be chaired by Secretary, M/o MSME and Co-chaired by Development Commissioner, M/o MSME. The council will comprise of senior officials and members from M/o MSME, Commerce, MSME Export Promotion Councils, Export Development Authorities, Commodity Boards, and other bodies.
An action plan is also proposed to be put in place to achieve the following objectives:
- Target of USD 100 billion of exports from India by 2020
- Evaluate readiness of MSMEs to export their products and services
- Recognize areas where improvements are required in order to be able to export effectively and efficiently
- Integration of MSMEs into Global Value Chain.