The correlation between economic growth and global trade is undisputed. This explains the impetus placed on trade across the world, with each country looking to increase its share in global exports. MSMEs in India currently contribute to over a third of the GDP today while accounting for about half of the country’s exports. The government has been focused on increasing the MSME share of overall exports. It will help small businesses benefit from the opportunities that cross-border trade offers, allowing them to scale operations exponentially and support the growth of our economy. Removing barriers and making exports easier is especially important at a time when millions of Indian businesses are emerging from the impact of an unprecedented pandemic.
The sheer size of the global market, the breadth of opportunity, and the headroom to scale have made exports an attractive business opportunity for Indian manufacturers and business-owners for decades. However, supply chain complexities, initial investments, cross-border payments and uncertainty of demand have often meant that the exports business is not for everyone. As a result, Indian businesses, especially the micro, small and medium enterprises (MSMEs) have traditionally limited their aspirations with respect to exports. In the last few years, however, the wider availability of the internet and evolution of technology have brought in a transformation to the exports business. Today, e-commerce exports have lowered the entry barrier for Indian MSMEs to enter, experiment and win in global markets. Imagine, an Ayurvedic supplement manufacturer selling directly to customers in the UK or schools in the US purchasing ‘Made in India’ STEM toys and make it part of their curriculum.
Logistics Partner
Knowledge Partner
SME Organisation Partner
Logistics Partner
Knowledge Partner
SME Organisation Partner