Jan 1, 2019
MSME Ministry creates export promotion cell
Jan 1, 2019
The Ministry of Micro, Small, and Medium Enterprises (MSME) has created an export promotion cell, it informed the Lok Sabha (Parliament) on December 31 2018.
Aiming to integrate India’s MSMEs into the global economy, an MSME export promotion cell has been created by the MSME Ministry. The group will also work to evaluate whether or not small businesses are ready to export their goods and services and to coach on how to improve MSMEs to get them ready for export.
Many MSMEs are clothing and accessory businesses looking to enter the global economy and so the creation of the cell is lively to increase India’s fashion exports in the near future. The Indian government has also shown its commitment to increasing exports from the fashion and textile industry as part of its “Make in India” campaign.
The Press Trust of India reported that, in a written note to the Lok Sabha, the MSME Minister of State Giriraj Singh stated that MSME products made up 48.56 percent of India’s exports in the 2018 financial year. Singh also reported that, as per data from the Directorate General of Commercial Intelligence and Statistics (DGCIS), MSME products were valued at $147 billion (Rs 9.8 lakh crore) in the same time period.
The MSME Ministry also proposed that it will form a governing council for the group which will be led by the MSME Ministry’s secretary and co-chaired by the MSME’s development commissioner. The council would be made up of senior officials, commodity boards, and related ministries.
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