September 30, 2021
IndiaXports aims to orient MSMEs free of cost by focusing on the export potential in existing tariff lines and augmenting MSMEs.
The initiative was launched virtually in Delhi by Shri Narayan Rane, Minister of MSME.
The ministry also saw the participation of MoS Shri Bhanu Pratap Singh Verma and the ministry’s senior officials.
GOI has set the goal of US$ 400 billion of merchandise exports in 2021-22.
The India Export Initiative and IndiaXports 2021 Portal of India SME Forum was launched virtually on September 29, 2021 by the Union Minister for MSMEs Shri Narayan Rane in New Delhi, along with MoS Shri Bhanu Pratap Singh Verma and the ministry’s senior officials. IndiaXports has set the objective of enhancing the export potential of MSMEs, free of cost, aiming to focus on the dormant export potential in existing tariff lines and augmenting MSMEs to help increase the number of exporting MSMEs and MSME exports by 50% in 2022, contributing to the government’s objective to reach a US$ 5 trillion economy.
The initiative contains an Info Portal which functions as a knowledge base for exports by Indian MSMEs with the necessary information related to the export potential for all the 456 tariff lines along with the potential markets along with the trends in exports, export procedures etc. The MSMEs will also be provided with instructor-led orientation through a number of sessions for specific sectors underlining the potential of specific products in international markets, apart from an export help desk. Targeting more than 0.1 million MSMEs that are keen on furthering their knowledge on exports, the initiative also aims to guide more than 30,000 MSMEs to explore and double their base of active exporters.
Shri Rane expressed confidence in India’s ability to further its export growth aided by MSMEs, reach the goal of US$ 400 billion by this fiscal, and fulfill the target of US$ 1 trillion in exports by 2027. He highlighted the importance of upgrading India’s competitive advantage, which would make India a preferred destination for manufacturing in the world. The minister also underlined the role of MSMEs in reducing the trade balance and imports, which is possible through the increase of their manufacturing capabilities and the necessity of adopting a holistic approach to make India a global manufacturing and leading export hub. MoS Shri Singh drew attention to the almost 40% contribution of MSMEs to India’s overall exports and approx. 6.11 % to the country’s manufacturing GDP and 24.63% to the GDP from the services sector, with over 63 million MSMEs scattered across the length and breadth of the country.