MSME Ministry to prepare database on Global Market Intelligence System

New Delhi, July 15 (KNN) The Ministry of MSME is currently working on creating a database on Global Market Intelligence System to ensure that MSMEs regain their ground through marketing, said B B Swain, Secretary, MSME.

He was speaking at MSME Conclave organised by EEPC India on Thursday.

Given the manufacturing cost advantage in India, he said that domestic engineering MSMEs have a tremendous potential.

Highlighting the size of the sector, emphasized on the role of engineering goods sector in exports.

“It is one of the largest industrial sectors in India in terms of turnover, exports, total factories and foreign collaborations,” he added.

Referring to Udyam registration portal, he said about 29 per cent of the 96 lakh registered MSMEs are engaged in manufacturing of engineering products.

“I see tremendous potential in further growth of this sector and am certain that this will definitely lead to substantial employment generation, and that is something that the Government of India has been focusing on, especially in the post-pandemic era,” he said. (KNN Bureau)