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Powering Bharat’s Rise: MSMEs Set to Lead India’s Next Export BoomIndia stands at the threshold of a transformative era, where Micro, Small and Medium Enterprises (MSMEs) are driving the engine of economic growth and global competitiveness.
With visionary leadership and dynamic policy frameworks, this fiscal year has witnessed a series of groundbreaking initiatives designed to expand export opportunities, enhance market access, and build institutional capabilities for the nation’s MSMEs. The Government’s commitment to MSME growth is reflected in the International Cooperation (IC) Scheme, which meticulously supports the participation of MSMEs in global trade events—international exhibitions, fairs, and buyer-seller meets abroad.
This institutional support builds the brand of India as a reliable sourcing hub, connecting local manufacturing with global demand.
Capacity Building of First-Time Exporters (CBFTE)
A watershed moment arrived in June 2022, with the launch of the CBFTE scheme under the IC umbrella.
Tailored financial assistance is now available for new micro and small enterprises—reimbursing costs towards registration with Export Promotion Councils, export insurance premiums, and quality certifications. This initiative is a game-changer; by reducing upfront costs and bureaucratic hurdles, it empowers novice exporters to leap onto the international stage.
Institutional and Financial Support: Enabling Global Competitiveness
The tapestry of institutional aid for MSMEs includes a roster of transformative schemes designed to address multiple dimensions of growth and competitiveness. Programs such as PMEGP, CGTMSE, MSE-CDP, SFURTI, ZED, LEAN Manufacturing, IPR, and PMS work in synergy to enhance productivity, encourage sustainable practices, ensure credit availability, and promote cluster development.
Complementing these, the Districts as Export Hubs (DEH) initiative identifies district-level products with high export potential and deploys targeted interventions, capacity-building measures, and training programs for local producers. Adding further strength to the ecosystem are 60 Export Facilitation Centers established nationwide, providing MSMEs with mentoring and market linkages that significantly boost their confidence and performance in external markets.
Policy Innovations: RoDTEP and RoSCTL Schemes
The Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme launched in April 2021, with a budget allocation of ₹18,232.50 crore for FY 2025-26, covers 10,642 tariff lines. It ensures remission only up to the actual incidence of duties per WTO norms, incentivizing exports from Domestic Tariff Area units and propelling Indian goods onto world shelves.
The Rebate of State and Central Taxes and Levies (RoSCTL) Scheme, operating since March 2019, facilitates the reimbursement of taxes paid in the manufacturing of exported textiles—a boon to our labor-intensive sector.
Digital Enablement & Information Services
Digital powerhouses like the Trade Connect ePlatform showcase continual improvement, offering exporters instant access to country-specific export information, quality norms, and sustainability standards—bridging Indian exporters with Indian Missions abroad and domestic trade promotion bodies. Through robust digital cataloguing, account management, and market research, schemes like TEAM and Global Mart promise seamless international partnerships.
Aligning With Global Quality and Sustainability Standards
Recognizing the rising demand for global compliance, the Foreign Trade Policy 2023–28 continues to mentor exporters via the Niryat Bandhu Scheme—delivering counseling, training, and outreach. DGFT’s regional authorities organize seminars and training on international quality norms, technical standards, and sustainability requirements, ensuring our entrepreneurs are prepared for tomorrow’s markets.
New Trade Agreements: Accelerating India’s Market Access
In pursuit of expanding market access, India is energetically negotiating and concluding a series of trade agreements that hold immense promise for its industries, particularly MSMEs.
The India-UK Free Trade Agreement was successfully concluded in May 2025, while the India-EFTA Trade and Economic Partnership Agreement (TEPA), announced in March 2024 with Switzerland, Norway, Iceland, and Liechtenstein, has opened new vistas for MSMEs in high-value sectors. Progress continues the India-EU FTA, with 12 rounds completed, the most recent in July 2025.
Similarly, the India-USA Bilateral Trade Agreement has already seen five rounds of negotiations since March 2025. Alongside these, ongoing talks on the India-Peru FTA, India-Chile CEPA, India-Oman CEPA, and India-New Zealand FTA promise fresh opportunities for industries across states, further integrating Indian enterprises into global supply chains.
Conclusion: A New Era of Empowerment and Global Leadership
Under the current government’s stewardship, MSMEs are being empowered like never before. These comprehensive measures—central and state government schemes, enhanced financial support, robust digital platforms, policy reforms, and strategic trade agreements—are positioning India as a global leader in trade.
In Haryana, the innovative spirit of enterprises like Parashar Future Technologies—crafting the finest quality prosthetics under the Make in India, Digital India, and Skill India frameworks—illustrates how local entrepreneurship is powering national ambition and securing global recognition. Their exports affirm that Indian MSMEs can meet and exceed world standards. Similarly, Tamil Nadu–based MediSim VR, through its competency-driven virtual reality training, is addressing global healthcare skill gaps while strengthening India’s medical science education ecosystem at home and abroad.
Together, such examples underscore how India’s entrepreneurial energy is laying the foundation for the nation’s vision of becoming Viksit Bharat @2047. India’s innovative enterprises embody this wave of transformation—exporting not just products, but the story of a young, ambitious nation on the rise.
(The author is Member of Parliament, Rajya Sabha; Views expressed are personal)
- Published On Aug 23, 2025 at 07:31 AM IST
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