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

The value of MSME exports during the eight-month period (April-November) of the current fiscal stood at Rs 12.39 lakh crore, surpassing Rs 8.55 lakh crore of MSME exports recorded in during the entire FY23, while the value of exports during FY24 increased to Rs 14.05 lakh crore, according to data shared in Parliament.

The total number of MSMEs exporting goods till November in the current financial year was 1.73 lakh, compared to 1.53 lakh in the entire FY24 and 1.21 lakh in the financial year 23, according to data shared by Shobha Karandlaje, Minister of State in the Ministry of MSME, in a written statement. answer a question.

India’s cumulative exports between April and October 2024 were estimated at $468.27 billion (around Rs 39.71 lakh crore), up from $436.48 billion (around Rs 37.01 lakh crore) in April -October 2023, with growth of approximately 7.28 percent.

Meanwhile, the percentage share of MSME related product exports in all Indian exports jumped to 45.73 percent in FY24. The share increased from 49.73 percent in FY24. FY20 to 49.35 percent in FY21, 45.03 percent in FY22, and 43.59 percent in FY21 23, according to data shared by Karandlaje in Parliament in July this year.

The Ministry of MSME had allocated Rs 26.3 crore to promote MSME exports in FY24, compared to Rs 17.2 crore in FY23 and Rs 3.6 crore in exercise 22.

Currently, 65 Export Facilitation Centers (EFCs) are being established across the country to provide guidance and support to MSMEs in exporting their products and services to the foreign market.

“This includes disseminating information about available programs and benefits, and providing advice on export processes and documentation. Additionally, assistance in identifying suitable markets, connecting with financial institutions for competitive credit and guidance on technology adoption is also provided,” Karandlaje said in his response.

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