MSME exports cross Rs 10.4 lakh crore in 2017-18: Giriraj Singh
The value of MSME-related products exported during 2017-18 has reached $147,390.08 million or Rs 10,44,921 crore, said Giriraj Singh, Minister of State for MSMEs, according to an official statement. He added that this data was received from the Directorate General of Commercial Intelligence and Statistics (DGCIS).
The statement added that the revenue of exports of MSME-related products during the last six years was as follows:
MSME export values over six years. Source: Press Information Bureau, Govt of India
The minister also described other measures undertaken by the government to boost MSME exports. “These include efforts made under Make in India Programme, Promotion of Ease of Doing Business, improved availability of credit through MUDRA, Stand up India, and schemes such as ‘Merchandise Exports from India Scheme’ (MEIS) for incentivising export of specified goods to specified markets,” he said.
He also discussed the ‘Service Exports from India Scheme’ (SEIS) for increasing exports of notified services from India, the two percent interest subvention for all GST registered MSMEs on fresh or incremental loans, and the increase in interest rebate from three percent to five percent for exporters who receive pre-shipment and post-shipment loans.
The central government has also been implementing the Export Promotion Capital Goods Scheme (EPCG) in order to facilitate import of capital goods for producing quality goods and services and enhance India’s manufacturing competitiveness.
Earlier this month, CR Chaudhary, Minister of State of Commerce and Industry, had said, “The Export Promotion Capital Goods Scheme under the Foreign Trade Policy is being implemented for manufacturer exporters with or without supporting manufacturer(s), merchant exporters tied to supporting manufacturer(s) and service providers.”
During an industry event in Odisha last month, Indian MSMEs were invited to boost trade with Vietnam. Selected industries included food processing, travel, tourism, pharma, healthcare, handloom and handicrafts.
ALSO READ:
‘Export Promotion Capital Goods Scheme to boost manufacturing in India’: CR Chaudhary
India-Vietnam trade up 40 pc; Odia MSMEs invited to boost exports