India Development News & Foreign Investment Opportunities

MSMEs gets export promotion cell

Council to lead in export drive

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Council to lead in export drive

 

Make in INDIA

An Export Promotion Cell has been established to create a sustainable ecosystem for entire Ministry of Micro, Small and Medium Enterprises (MSMEs) which has product output of US$147.39 billion with 48.56% exported in 2017-18.

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.

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 MSME Secretary and Co-chaired by MSME Development Commissioner.

Giving this update in Lok Sabha on 31 Dec 2018, Minister of State for Micro, Small and Medium Enterprises, Giriraj Singh, said the council will also comprise of senior officials and members from the Ministry’s 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. fiinews.com

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