MSME Share Accounts For 45% In India’s Total Exports: Data

New Delhi, Dec 12 (KNN) Products related to the MSME sector has a total contribution of 45.56 per cent in all India exports as of September in the current financial year, informed the MoS MSME Bhanu Pratap Singh Verma in a written reply to the Rajya Sabha on Monday. 

Importantly, India’s overall exports (merchandise and services combined) in April-September 2023 exhibited a negative growth of 2.97 per cent over April-September 2022.

During the six-month period last year the exports amounted to USD 387.8 billion vis-a-vis USD 376.29 billion till September in the current fiscal, data from the commerce ministry showed.

The share of export of MSME-specified products in all India exports has also been declining year-on-year even as the country’s overall exports including merchandise and services grew by an estimated 13.84 per cent in FY23. 

From 49.77 per cent in FY20, the share of MSME-related products dropped to 49.35 per cent in FY21 and 45.03 per cent in FY22. It further declined to 43.59 per cent in FY23 while the value of MSME exports had increased to USD 190 billion in FY22 from USD 143.9 billion in FY21 and USD 54.8 billion in FY20. 

(KNN Bureau)