Exports of products manufactured by MSME is on a decline. Their share in the overall exports from India has also decreased on a year-on-year basis, even as the country’s overall exports including merchandise and services grew by an estimated 13.84 per cent in financial year 2022-23. Citing data from the Directorate General of Commercial Intelligence and Statistics (DGCIS), Bhanu Pratap Singh Verma, Minister of State in the MSME Ministry said.
The share of MSME-specified goods in overall exports stood at 43.6 per cent in FY23. This was down from 45.03 per cent share in FY22, 49.35 per cent in FY21 and 49.77 per cent in FY20. However, the value of MSME exports had increased to $190 billion in FY22 from $143.9 billion in FY21 and $154.8 billion in FY20.
The decline in export share is contrary to the government’s target. Former MSME Minister Nitin Gadkari in 2020 had set a target of increasing MSMEs’ share in exports to 60 per cent in five years.
