Hyderabad: The ‘One District, One Product’ scheme will create and increase export potential in each district. MSME’s were severely impacted due the Covid. Though more than 90 per cent of them functioned during the Covid, they had faced challenges of liquidity, manpower, raw materials and logistics. However, they continue to be the largest employers and contribute immensely to GDP, Dr. Srikar K Reddy, Commerce Joint Secretary.
Participating in the `MSME Summit’, organised by CII Telangana, he said Government of India has set a target of $400 billion exports for 2021-22 and about 38 per cent of this has already been achieved by August 2021. The government has also recently notified the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme to boost exports and competitiveness in local markets, he said.
Mahesh Desai, Managing Director of Meera & Ceiko Pumps, said Telangana is doing well in exports. Telangana is strengthening efforts to increase its exports across categories. Merchandise exports from the State in 2019-20 were valued at $7.4 billion, growing at an annual average growth rate (AAGR) of 8.1 per cent between 2015-16 and 2019-20 period, significantly higher than the national AAGR of 4.7 per cent, he stated.
Sameer Goel, CII Telangana Chairman, said development of MSMES is critical for financial inclusion and employment generation, according to a release.
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