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India SME Forum- Madhya Pradesh can boost exports by 50% Posted On 28th January, 2020 : Posted By VISHAL MEDIA
India SME Forum- Madhya Pradesh can boost exports by 50%~
US $ 2236 million is the size of untapped potential of exports that can be exported from Madhya Pradesh with some focussed efforts,
Raipur, 28th January 2020 : US $ 2236 million is the size of untapped potential of exports that can be exported from Madhya Pradesh with some focussed efforts, stated Mr. Vinod Kumar Wuthoo, the President of India SME Forum, India;s Largest Organisation for SMEs.
He continued to state that, Electrical Machinery and Equipment, Aluminum and articles thereof, Knitted and Crocheted apparel & clothing accessories, Edible Vegetables & Certain root tubers, Iron & Steel, Man Made staple fibres are some of the sectors that have potential and despite its natural and agri resources, Madhya Pradesh presently has a share of only 1.65% in India's exports. The current exports are from Madhya Pradesh are around US $ 4436.8 Million, mainly through major commodities exported including Biological Drug Formulations, Cotton Yarn & Cotton Fabrics, Oil Meals and Aluminum products.
He further said that "There are huge trade opportunities in the global domain, however, it's easier said than done. In spite of Government's strong focus on SMEs and exports, only less than 0.01% of total 65 Million of Indian MSMEs currently participate in Exports or Global Trade. In association and with the support of the Ministry of MSME, India SME Forum has decided to sensitise around 4,00,000 SMEs for Exports and to enable a new crop of Internationally competitive Indian SMEs to double the export output from India in the next four years and we are associating with ICICI a premier export financing and enabling bank to bring about this transformation."
A workshop cum seminar was organised on 22nd Jan 2020 at the Courtyard by Marriott hotel, Bhopal attended by over 200 entreprenuers, with a fact finding study on exports, followed by a panel discussion with eminent experts, including :
Mr. Vinod Kumar, President, India SME Forum
Mr. Nilesh Tiwari, Branch Manager, ECGC Ltd. Bhopal
Mr. Satyendra Sharma, Deputy Zonal Head, ICICI Bank
Mr. Deepak Bajpai, CEO, Mrignayani, Madhya Pradesh Handicrafts &; Handloom Development Corporation Ltd.
Mr. Mohd. Faisal Hussain, Branch Manager, NSIC, Bhopal
Ms. Sushma Morthania, Director General, India SME Forum
Topics discused included the option of Exports v/s Domestic Sales, Export Strategy for SMEs: Planning and Executing for Smart Exports, requirement of International Standards, Keys of Riding the Export Wave and Export Opportunities for Tariff Lines of Imp. Sectors in Madhya Pradesh
Background :
India is home to around 65 million SMEs, which contribute to 11% of GDP, 45% of total manufacturing output and provide employment opportunities for more than 100 million people. SMEs also play a crucial role in supporting large enterprises as ancillary units and even help in promoting industry in rural & backward areas. So, it's not an exaggeration to say that SMEs are the lifeline and backbone of our economy. A vibrant and financially inclusive India needs a vibrant SME sector!
One thing, these SMEs need today and would need in future for sustainability is 'more business'. While our SMEs may not be endeavoring to the global marketplace for selling their products, other companies throughout the world are not staying put, they recognize the potential global markets has and they are looking to penetrate these markets, including India, aggressively.
At the world economic forum earlier this year, PM Modi highlighted that Make in India has to be Make in India for India and for the World. This would not only allow enterprises to improve their cost economics but also would help in generating tremendous new business opportunities for the local SMEs ecosystem.
The barriers are many such as lack of reliable data on overseas markets, inability to contact potential overseas customers, unfamiliarity with export rules, procedures & documentation, lack of trained export staff for trade facilitation, difficulty identifying foreign business opportunities, insufficient access to export finance etc. Some of the barriers are about perception, some related to lack of knowledge & information whilst some about lack of holistic and end-2-end global trade solution for SMEs.
India SME Forum has undertaken to reach out and conduct workshops across India on Exports with the support of the Ministry of MSME in order to priortise exports from India and to showcase the export opportunity for Indian MSMEs.
One of the objectives is also to help increase the number of SMEs participating in Exports from the present 1,27,000 Enterprises to 5,00,000 enterprises and doubling the export output by SMEs. The Ministry of MSME, currently playing a crucial role with their International Cooperation Schemes and Export Promotion Schemes.
About India SME Forum
India’s largest Small & Medium Business Movement, was formed in May 2011, with the objective to propel a Small and Medium Business Movement across the country Starting out with 400 members in 2011, today ISF has over 82,000+ MSMEs as members, including 7000+ Women Entrepreneurs, 270+ Sectoral & Regional Associations as Supporters and 35 major banks, corporations & organizations as partners.
ISF and its office bearers have been at the forefront of demanding a radical change in the way our country is led and are committed to a paradigm shift in the mindset of the people of our country, towards its entrepreneurs. The Forum is a gazetted member of the Advisory Committee of the Ministry of MSME, member of India’s National Board of MSME, the apex MSME Statutory Body, since 2015, a Member of the High Powered Monitoring Committee of the National SC/ST HUB under Stand Up India and a Member of the RBI’s Standing Advisory Committee on Flow of Institutional Credit to MSME Sector, apart from contributing to various national and international think tanks, on the MSME & Entrepreneurial ecosystem.
Above Business Release Sourced by Citiesbazar through VISHALMEDIA (P.R.Agency), Mobile 098266-23100, Email- pr@vishalmedia.com
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