Nearly half of India’s exports came from MSMEs in FY19, up from 7.5% in FY18.

Share of exports of products related to India’s micro, small and medium enterprises (MSME) during the year 2018-19 stood at 48.10 per cent as per the information from Directorate General of Commercial Intelligence and Statistics, MSME Minister Nitin Gadkari said in a written reply in Rajya Sabha on Monday. The jump in the share has been impressive from the preceding year (FY18) when MSME exports contributed only 7.5 per cent to total exports. The share for FY16 and FY17 stood at 5.9 per cent ($130.7 billion) and 4.8 per cent ($137 billion) respectively. The value for MSME’s share of exports was $147.4 billion while last year till September MSMEs exported goods worth $78.5 billion, former MoS for MSME Ministry Giriraj Singh had said in Lok Sabha in December last year.

 

The employment generated by micro-enterprises also grew by over 2 lakh (people employed) from 3.58 lakh in FY15 to 5.87 lakh in FY19, the MSME Minister further informed as per the Prime Minister’s Employment Generation Programme (PMEGP) — a credit-linked subsidy programme to boost self-employment through micro-enterprises in the non-farm sector. Also, the allocation to PMEGP nearly doubled from FY18 at Rs 1072.90 crore in actual expenditure to Rs 2118.80 crore in FY19. Moreover, 73,427 ‘projects’ were supported under the programme in FY19, Nitin Gadkari said.