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There are about 25 million MSMEs registered on the Udyam portal, of which round 193,000 are engaged in exports at current. “There’s a linkage of the Udyam portal with ICEGATE however that’s now being augmented as a result of we wish extra granular information country-wise and commodity-wise as we get solely broad export figures proper now,” stated an official conscious of the event. The linkage of the 2 portals is essential as MSMEs account for a big worth of exports of readymade clothes, leather-based merchandise, processed meals and engineering items, whereas in sectors like sports activities items, they account for nearly the complete outbound cargo. Presently, the data on exports and imports is offered by the Directorate Normal of Industrial Intelligence and Statistics (DGCI&S) by which particular information on MSME sector shouldn’t be out there.
Anil Bhardwaj, secretary normal, Federation of Indian Micro and Small & Medium Enterprises (FISME), stated that product-wise information will assist trade acquire concessions in India’s free commerce settlement negotiations and assist enhance its market entry, coverage making and competitiveness.
This assumes significance as a lot of India’s FTAs have separate chapters on MSMEs. “We are going to get state and cluster-wise information, which might additionally assist formulate export promotion schemes,” Bhardwaj stated.
India, with an export share of 21-22% of GDP, aspires to extend it to 30%.
