Ease e-commerce for MSME exports.
Ease e-commerce for MSME exports.
Current Affairs Daily Articles & Editorials
La Excellence IAS Academy | March 14, 2024 | Economy
| Syllabus: GS-III, Subject: Economy, Topic: Trade and External Sector, Issue: MSME Export’s. |
Context: Niti Aayog recommended easing e-commerce routes for MSME exports.
Key Recommendations:
- Simplify merchandise trade processes and establish a single national trade portal.
- Address payment reconciliation challenges associated with exports.
- Ensure accurate measurement of MSME exports.
- Target specific sectors with global demand, like handicrafts and textiles, for export promotion.
| MSMEs (Micro, Small, and Medium Enterprises):
ü Classified under the MSMED Act, 2006 based on investment and turnover. ü Micro: Investment < INR 1 crore, Turnover < INR 5 crore. ü Small: Investment < INR 10 crore, Turnover < INR 50 crore. ü Medium: Investment < INR 50 crore, Turnover < INR 250 crore. ü Key contributors to GDP, exports, rural development, and employment generation. ü Supported by government schemes for growth and development. ü Vital for innovation, social inclusion, and economic sustainability |
Source: The Hindu
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