MSME’s GVA share in GDP rise to 2%; Exports share decline in last three years

New Delhi, Aug 8 (KNN) The share of MSME Gross Value Added (GVA) in all India Gross Domestic Product (GDP) during the year 2019-20, 2020-21 and 2021-22 was 30.5%, 27.2% and 29.2% respectively, informed Minister of State for MSME, Bhanu Pratap Singh Verma in a written reply to the Rajya Sabha on Monday.

He cited the latest information received from Ministry of Statistics & Programme Implementation.

In view of export share of MSMEs, there has been a decline during the year 2020-21, 2021-22 and 2022-23 as the share reported 49.4%, 45.0% and 43.6% respectively, as per the information received from Directorate General of Commercial Intelligence and Statistics (DGCIS).

The share of MSME manufacturing output in all India Manufacturing output during the year 2019-20, 2020-21 and 2021-22 was 36.6%, 36.9% and 36.2% respectively, revealed the MoS.

As on 2 July 2023, as per Udyam Registration Portal, the total number of persons employed in MSMEs which were registered from 1 June 2020 to 1 July 2023 in India was 12,36,15,681.

The Minister further highlighted the initiatives taken by the MSME Ministry such as various schemes for the growth and development of MSME sector in the country.  (KNN Bureau)