SME Times News Bureau | 01 Jun, 2020
Exporters’ association Federation of Indian Export Organisations (FIEO)
on Monday welcomed the Modi-government’s decision to exclude export turnover
and enhancement of turnover limit of MSME.
Commenting on the announcement made by MSME Minister Nitin Gadkari, FIEO
President Sharad Kumar Saraf said that enhancement of the turnover limit for
Medium units from Rs 100 Cr to Rs 250 Cr is most pragmatic and will also infuse
technology as in certain sectors margins are so low that enhancement in
investment in plant and machinery would not have been of much use unless
accompanied by increase in turnover limit to Rs 250 Cr.
Such a move will also bring automation of certain processes which are
required for competitive manufacturing, he added.
Saraf thanked the Union Minister for MSME for accepting FIEO's request
for excluding exports turnover from total turnover which will help in
internationalisation of MSME and will bring their focus on exports.
This will also benefit a lot of gems and jewellery companies, who would
have breached the MSME criteria due to sheer cost of their inputs.
The FIEO Chief hoped that the share of MSMEs in the country's exports
will rise from 40% to 50% in the next 5 years.