MSME Ministry constitutes Committee on International Cooperation
New Delhi, March 18 (KNN) Amidst declining exports due to worldwide fears of Corona pandemic, Government seems to be determined to give a push to exports through Micro, Small and Medium Enterprises (MSMEs).
The Ministry of MSME has issued an Order constituting a Committee for regular ‘deliberations and discussions regarding various issues and opportunities of bilateral/multilateral cooperation with other countries’. The Committee shall meet every month.
MSMEs contribute close to 40% to India’s total exports valuing US$ 330 Bn (2018-19).
Union MSME Minister Nitin Gadkari is aggressively pushing for identification of new exportable products in the MSME sector and relevant export markets for them.
Ministry of MSME supports MSMEs for market access in select markets.
The Committee is to look into identification of right trade fairs and market access tools to enter into focused markets.
Apart fr0m reviewing export promotion policies, it is also expected to deliberate on issues such as non-tariff measures, logistics and e-commerce.
Besides their traditional strong holds in sectors such as textiles and garments, leather and gems and jewellery, MSMEs are significant players in auto-components and light engineering, drugs and pharma.
The committee members include major trade bodies like FICCI, PHDCCI, FISME, FIEO, export promotion councils and NSIC.