The Ministry of MSME enhances exports with schemes, financial aid, and 60 Export Facilitation Centers, says Minister of MSMEs, Jiten Ram Manjhi.
The MSME sector significantly contributes to India’s GDP, employment, manufacturing output, and exports. It manufactures a wide variety of products, including small items. The Ministry of MSME is implementing the International Cooperation (IC) Scheme to augment exports. Financial assistance is provided on a reimbursement basis to eligible organizations and industry associations. This assistance facilitates MSMEs’ participation in international exhibitions, fairs, and buyer-seller meets abroad, as well as organizing international conferences, seminars, and workshops in India. These efforts aim to upgrade technology, modernize processes, and foster joint ventures.
Since June 2022, the IC Scheme has included the Capacity Building of First-Time Exporters (CBFTE) component. This provides reimbursement to new micro and small enterprises (MSE) exporters for costs incurred on registration-cum-membership certification (RCMC) with Export Promotion Councils, export insurance premiums, and testing and quality certification for exports. These interventions help MSME exporters access international markets.
The Ministry of MSME has established 60 Export Facilitation Centers (EFCs) nationwide to mentor and support MSEs. The Central Government supplements state and UT government efforts through various schemes, programs, and policy initiatives for the development and promotion of MSMEs. Key initiatives include the MSME Champions Scheme, the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), the Prime Minister’s Employment Generation Programme (PMEGP), the Micro and Small Enterprises Cluster Development Programme (MSE-CDP), and Raising and Accelerating MSME Performance (RAMP).
Some initiatives supporting the MSME sector are:
- Collateral-free loans up to Rs. 500 lakh with 85% guarantee coverage through CGTMSE.
- Rs. 50,000 crore equity infusion via Self Reliant India Fund, with a Rs. 10,000 crore Government of India corpus.
- New criteria for MSME classification.
- Registration through the Udyam Registration Portal for ease of doing business.
- No global tenders for procurement up to Rs. 200 crore.
- Inclusion of retail and wholesale trades as MSMEs since July 2, 2021.
- Non-tax benefits for 3 years if MSME status changes upward.
- RAMP program rollout with a Rs. 6,000 crore outlay over 5 years.
- Integration of the Udyam Registration Portal with the National Career Service and Skill India Digital.
- Relief under Vivad se Vishwas – I, including refunds of 95% of performance security and other dues.
- Launch of the Udyam Assist Platform (UAP) to formalize informal Micro Enterprises (IMEs).
- Launch of the ‘PM Vishwakarma’ Scheme on September 17, 2023, to support traditional artisans and craftspeople.
Minister of Micro, Small and Medium Enterprises Jiten Ram Manjhi provided this information in a written reply in the Lok Sabha.
