New Delhi, Dec 23 (KNN) The average exports of the MSME enterprises grew by 22.64 per cent to Rs 4.55 crore in the year 2013-14, from Rs 3.71 crore in the year 2012-13, according to a CRISIL report.

CRISIL analysed the performance of MSMEs for which it had undertaken renewal ratings on the basis of their 2012-13 (financial year April 1-March 31) financials.

According to the analysis, India’s merchandise exports fell for the eleventh consecutive month in October 2015, raising concerns over the downward trend of exports.

MSMEs account for 45 per cent of India’s total exports. Sectors such as readymade garments, drugs and pharmaceuticals, and electronics - where MSMEs have a strong presence - have registered growth, while the other key segments also with a strong MSME presence, such as chemicals, engineering goods, and gems and jewellery, have witnessed a contraction.

CRISIL Research recently pointed that while the falling trade-intensity of global growth acts as an external structural constraint, declining competitiveness, infrastructural bottlenecks, and labour market rigidity are domestic structural issues that might hold India back from achieving its target of doubling its exports in the next five years. (KNN)