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Narayan Rane: MSME Ministry coming out with Global Market Intelligence System to support MSME exports

Trade, import and export for MSMEs: “Our focus is towards providing easy credit, better technology support, and access to the export market. We want our MSMEs to become competitive and grow in the era of globalisation,” said MSME Minister Narayan Rane.

 

The Global Market Intelligence System was part of one of the sub-components under the revised

guidelines issued by the MSME Ministry for the International Cooperation Scheme in August last year.

Trade, import and export for MSMEs: MSME Minister Narayan Rane on Tuesday said the government is coming out with a Global Market Intelligence 

System to support MSME exports. Speaking at a summit organised by the MSME Ministry and Entrepreneurship Development Institute of India (EDII) on MSMEs? competitiveness and growth, the minister called upon all the stakeholders of the MSME ecosystem to charting out a roadmap for strengthening the competitiveness of the sector.

“Our focus is towards providing easy credit, better technology support, and access to the export market. We want our MSMEs to become competitive and grow in the era of globalisation,” Rane said.

Importantly, the Global Market Intelligence System was part of one of the sub- components under the revised guidelines issued by the MSME Ministry for the International Cooperation Scheme in August last year. According to the guidelines, the system was proposed to act as a central knowledge repository of export-related data on foreign markets.

“It will provide simplified information on trade statistics, market access issues, and export potential indicators. It will further provide information on tenders and procurements globally and export orientation of MSMEs through the provision of 

specially designed Orientation Courses by specialised government institutions actively involved in the area of foreign trade,” the guidelines read.

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The International Cooperation Scheme has been in operation since 1996 to facilitate Indian MSMEs for their participation in international exhibitions, trade fairs, buyer-seller meet etc. The scheme provides financial assistance on a reimbursement basis to the state and central government organizations, industry associations, and others associated with the promotion of the MSME sector.

“Ministry of MSME has been revising several policies conducive to the growth of MSMEs…We also have backward linkages such as cluster development and forward linkages for the market as the MSME Minister mentioned about international cooperation (scheme) for capacity building of exporters and also for Global Market Intelligence System,” Mercy Epao, Joint Secretary – SME Division, MSME Ministry said at the summit.