The MSME ministry has established an export promotion cell to create a sustainable ecosystem for micro, small and medium enterprises (MSMEs), Parliament was informed Monday.
The benefits likely to accrue from the setting up of the cell include integration MSMEs into global value chain, evaluation of readiness of MSMEs to export their products and services, and recognition of areas where improvements are required in order to be able to export effectively and efficiently.
The current status of exports from the MSME sector as per the information received from the 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 per cent during 2017-18, Minister of State (Independent Charge) for MSME Giriraj Singh said in a written reply in Lok Sabha.
The ministry has also proposed to formulate a governing council that will be chaired by secretary of the MSME ministry and co-chaired by the development commissioner, MSME. The council will comprise senior officials and members from ministries of MSME and commerce, MSME Export Promotion Council, Export Development Authority, Commodity Boards, and other bodies.