- Financial Express
What will it take for India with its 6.3 crore MSMEs to be among top global value chains
Trade, import, and export for MSMEs: The Covid pandemic has altered countries and multinational companies’ vision for engaging in global trade characterized by the emerging and alternative economies that promise quality manufacturing. Crossing the $400 billion exports in the financial year 2021-22 helped India earn a decent spotlight as a growing manufacturing and export hub in the world as well as a strong contender to be among the top global value chains (GVCs). Here, India’s 6.3 crore MSMEs, which account for nearly half of the country’s exports, would be among the key components. However, it won’t be a smooth ride for the country and its vast MSME base to develop or strengthen its presence in GVCs. So, what are the challenges here? Experts at Financial Express Online’s SME Exports Summit 2022 on Friday deciphered.