Rs 12 lakh crore in MSME exports recorded in April-November period : MoS MSME

NEW DELHI : The value of exports from MSMEs during the eight-month (April-November) period in the current financial year stood at Rs 12.39 lakh crore, surpassing Rs 8.55 lakh crore worth of MSME exports recorded in the entire FY23 while export value in FY24 increased to Rs 14.05 lakh crore, according to the data shared in the Parliament. 

The total number of MSMEs exporting goods till November in the current fiscal was 1.73 lakh, compared to 1.53 lakh in the entire FY24 and 1.21 lakh in FY23, according to data shared by Shobha Karandlaje, Minister of State in the MSME Ministry, in a written reply to a question. 

India’s cumulative exports during April-October 2024 were estimated at $468.27 billion (around Rs 39.71 lakh crore), as compared to $436.48 billion (around Rs 37.01 lakh crore) in April-October 2023, with an approximate growth of 7.28 per cent. 

Meanwhile, the percentage share of exports of MSME-related products in all India exports had jumped to 45.73 per cent in FY24. The share had declined from 49.73 per cent in FY20 to 49.35 per cent in FY21, 45.03 per cent in FY22 and 43.59 per cent in FY23, as per data shared by Karandlaje in Parliament in July this year. 

The MSME Ministry had allocated Rs 26.3 crore to promote exports from MSMEs in FY24 vis-a-vis Rs 17.2 crore in FY23 and Rs 3.6 crore in FY22. 

Currently, 65 export facilitation centers (EFCs) are established across the country to provide mentoring and handholding support to MSMEs in exporting their products and services to the foreign market.  

“These include disseminating information on available schemes and benefits, and providing guidance on export processes and documentation. Furthermore, assistance in identifying suitable markets, connecting with financial institutions for competitive credit, and guiding on technology adoption is also provided,” Karandlaje said in her response.