Significant Growth in MSME Exports During April-November Period

The value of MSME exports from April to November in the current fiscal year reached Rs 12.39 lakh crore, surpassing the Rs 8.55 lakh crore recorded for the entire FY23. The number of MSMEs exporting goods till November was 1.73 lakh, compared to 1.53 lakh in FY24 and 1.21 lakh in FY23, according to data shared by Shobha Karandlaje, Minister of State in the MSME Ministry.

India’s cumulative exports for April-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 the same period in 2023, reflecting a growth of 7.28%. The share of MSME-related products in total Indian exports increased to 45.73% in FY24, despite a decline from 49.73% in FY20 to 43.59% in FY23.

The MSME Ministry allocated Rs 26.3 crore to promote exports in FY24, compared to Rs 17.2 crore in FY23 and Rs 3.6 crore in FY22. Currently, 65 export facilitation centers (EFCs) across the country provide support to MSMEs in exporting their products and services. These centers offer information on schemes, guidance on export processes, market identification, financial connections, and technology adoption.

Source: https://www.financialexpress.com/business/sme-rs-12-lakh-crore-in-msme-exports-recorded-in-april-november-period-mos-msme-3691172/