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MSME competitiveness key to doubling exports: CII
New Delhi: Deeper integration into global value chains, enhanced digital trade infrastructure and a focus on building the competitiveness of MSMEs...
New Delhi: Deeper integration into global value chains, enhanced digital trade infrastructure and a focus on building the competitiveness of MSMEs will help India more than double its share in global trade from the present two per cent, CII said on Wednesday.
Chairman of the CII national committee on EXIM Sanjay Budhia said that the chamber is committed to working closely with the government to address critical challenges, which hinder manufacturing and export growth. “The journey will require deeper integration into global value chains, enhanced digital trade infrastructure, and a focus on building the competitiveness of MSMEs,” he said.
To further unlock the potential of exports, he suggested a common online portal for issue of circulars pertaining to various ports and locations. There is also a need to adopt best practices being followed by developed countries and implement the CAARR (Customs Authority on Advance Ruling) Regulation, 2021 as it would contribute to reduction of global trade costs and bring certainty in duty liability, Budhia said.
