MSMEs to Get Export Promotion Council

[vc_row][vc_column][vc_column_text]With a view to help MSMEs boost their exports, the Ministry of Micro, Small and Medium Enterprises (MoMSME) plans to form an export promotion cell to work with other departments and export promotion councils. According to a top official, this will help to ship products such as khadi, leather and coir on a large scale, and find out the clusters that can sell goods abroad directly, or through aggregators. If implemented, this plan will be a greatly boost exports from MSMEs, a significant part of the Indian economy, accounting for 45 per cent of the entire shipment from India.

Ministry of MSME Secretary A K Panda said that the ministry needs a cell that would work with the other ministries and add value, and find out the clusters that would benefit the sector. Panda added that the Coir Board exports were worth about INR 2,500 crores in 2017-18, and there is great potential in the coir sector. He also added that the ministry expects a significant boost in the exports of Khadi and Village Industries Commission this year. It was only around INR 200 crores earlier.

Among all the leather items exported, MSMEs have produced 85-90 per cent of them. MSMEs have contributed to various types of India’s GDP: 6.11 per cent to manufacturing, 24.63 per cent to service activities and 33.4 per cent to the manufacturing output.[/vc_column_text][/vc_column][/vc_row]