Key Points
New Delhi: Micro enterprises saw an increase in their share in exports from India in January to 6.63% from 5.79% in 2020-21, whereas the share of small and medium enterprises fell to 10% from 11.64% and to 11.22% from 12.96% respectively, said a report by the Directorate General of Commercial Intelligence and Statistics...
As per the data, the top five micro, small and medium (MSME) export sectors were engineering goods (19.64%), gems and jewellery (12.3%), readymade garments (8.52%), rice (6.22%) and organic and inorganic chemicals (5.7%)...
However, exports from the top two sectors in the overall industry fell in the April 2023-February 2024 period in terms of value, with textile and apparel exports falling 8.44% year-on-year and gems and jewellery exports down 12% while engineering goods saw a 4.65% increase.. The US, UK and Germany are among the top five export destinations for Indian MSME exporters, according to the report, It said but all three export sectors saw a decline in exports to the US and EU in this financial year..
"The Western world has been grappling with wars leading to a rise in gas prices and a shrinking economy over the last two years, affecting the demand for goods in these countries," said Anil Bhardwaj, secretary general, Federation of Indian Micro and Small & Medium Enterprises...
Except for the pharmaceutical sector, which has a considerable market share in low-income countries, the demand for goods constituting exports of the top-five MSME sectors, predominantly comes from the Western world..
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