NITI Aayog released Boosting Exports from MSMEs (Micro, Small & Medium Enterprises) Report

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Opportunities for MSMEs export highlighted by report
- Wood products and handloom textiles have huge potential because of its unique aesthetics and cultural appeal.
- Growing demand for natural and sustainable products in other countries.

Challenges in boosting export from MSMEs
- Limited access to finance: Current supply of credit via commercial banks fulfills only 16% of credit demand of MSMEs, Lack of access to working capital finance etc.
- Limited Market Access: Limited exposure to global exports market, constraints related to international quality standards, etc.
- Business environment-related challenges: Numerous regulatory compliances, delays in customs clearance, Shortage of credible and internationally accredited testing labs etc.
- Taxing merchandise export procedure: High volume of paperwork, requirement of approval from multiple authorities, etc.

Recommendations from report
- Creating one-stop information channel for exporters to serve as knowledge base for export procedures, and product-specific regulations.
- Creation of National Trade Network Portal to improve efficiency of export process and reduce costs.
- Promoting e-commerce exports and ease of merchandise exports by supporting first-time exporters.
- Better measurement of exports originating from MSMEs for identifying areas of improvement and evaluations of policy interventions.