"Ukraine conflict created supply chain disruptions: MoS MSME Bhanu Pratap Singh Verma"

The Ukraine conflict has created supply chain disruptions affecting energy, food, and materials used in the production of key technologies, Minister of State for MSMEs Bhanu Pratap Singh Verma told the Rajya Sabha. The statement was part of his reply to the question of whether any assessment has been made about the impact of the Russia-Ukraine war on exports of MSMEs to these countries. “India’s exports to Ukraine and Russia have been led by MSMEs which include pharmaceuticals, machinery, apparel, etc.,” he said. According to the provisional data shared by Verma, MSME exports to Russia, Ukraine, and Belarus in FY22 worth $2.18 billion accounted for only a 1.15 percent share of the total exports worth $190 billion of the MSME sector to the world. The share had declined from 1.38 percent in FY20 (pre-Covid) to 1.30 percent in FY21 (first Covid year) with exports amounting to $1.87 billion out of $143.9 billion in total Indian MSME exports globally.

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