MSME exports up by 7.5 pc in 2017-18, says Giriraj Singh

Exports of products manufactured by MSME units grew by 7.5 percent in 2017-18, said Giriraj Singh, Minister of State, MSME, in the Lok Sabha on Monday. He also said the growth had been -5.9 percent and 4.8 percent during 2015-16 and 2016-17, respectively. He added that information from the Directorate General of Commercial Intelligence and Statistics showed the value of exports of MSME related products at $130.7 billion in 2015-16, $137 billion in 2016-17, $147.3 billion in 2017-18, and $78.52 billion in 2018-19 ,, (till September, 2018), respectively.

Giriraj Singh added, “The Government of India has taken several measures to improve the competitiveness of Indian industry and to boost exports. These include efforts taken under National Manufacturing Competitiveness Programme, Make in India initiatives, Ease of Doing Business, improvement in infrastructure and logistics, improved availability of credit, awareness programmes and workshops, Merchandise Exports from India Scheme (MEIS), Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit and Niryat Bandhu Scheme.”

The minister, divulging more information, said, “As per the information received from Central Statistics Office, the share of MSMEs in Gross Domestic Product (GDP) at current prices has been 29.7 percent, 29.2 percent and 28.9 percent during the financial year 2014-15, 2015-16 and 2016-17, respectively. Further, around 1110 lakh persons were employed in unincorporated non-agricultural MSMEs, excluding construction.”

Earlier this year, with the aim to increase exports of textile and apparel, the government also announced a special package for garments and made-ups sectors. The package offers labour law reforms, additional incentives under Amended Technology Upgradation Fund Scheme (ATUFS), enhanced duty drawback coverage and relaxation of Section 80JJAA of Income Tax Act.

Additionally, it also launched Niryat Mitra – a mobile app developed by the Federation of Indian Export Organisations (FIEO), available on both Android and iOS platforms. It provides a wide range of information required to undertake international trade, right from the policy provisions for export and import, applicable GST rate, available export incentives, tariff, preferential tariff, market access requirements – SPS and TBT measures.