Collection Of MSME Trade Data Begins

Posted under: MSME
Date: 2023-11-28
Collection Of MSME Trade Data Begins

The government has started the process to collect the country-wise and commodity-wise trade done by micro, small, and medium enterprises (MSME). This will provide real-time data on their exports and imports. The MSME Ministry wants to get comprehensive data on exports done by such firms as opposed to broad data. Approximately 25 million MSMEs are registered on the Udyam portal, of which around 193,000 are engaged in exports at present. Sharing insights on the matter, Anil Bhardwaj, Secretary General, Federation of Indian Micro and Small and Medium Enterprises (FISME), said that product-wise data will help industry gain concessions in India's free trade agreement negotiations and help improve its market access, policymaking, and competitiveness. This assumes significance, as many of India's FTAs have separate chapters on MSMEs. “We will get state and cluster-wise data, which would also help formulate export promotion schemes,” said Bhardwaj.

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