Centre Reports Surge in Exporting MSMEs from 52,849 in 2020-21 to 1,73,350 by 2024-25

New Delhi, Dec 23 (NationPress) The total count of exporting micro, small, and medium enterprises (MSMEs) has seen a substantial increase, rising from 52,849 in the fiscal year 2020-21 to 1,73,350 by 2024-25, as reported by the government on Monday.

Exports from MSMEs have experienced an impressive growth, escalating from Rs 3.95 lakh crore in 2020-21 to Rs 12.39 lakh crore in 2024-25, emphasizing their vital role in enhancing India’s economy and fortifying global trade.

The sector has shown a remarkable growth pattern, contributing 45.73 percent to exports in 2023-24, which further rose to 45.79 percent by May 2024, illustrating their increasing influence on India’s trade performance.

Importantly, the gross value added (GVA) from MSMEs in India’s GDP was 29.7 percent in 2017-18, which improved to 30.1 percent by 2022-23.

Even during the extraordinary challenges brought on by the COVID-19 pandemic, the sector managed to maintain a contribution of 27.3 percent in 2020-21, rebounding to 29.6 percent in 2021-22.

These statistics underscore the sector's crucial role in promoting economic growth and stability, reflecting its lasting strength and significance to the Indian economy, as stated by the Ministry of Micro, Small and Medium Enterprises.

Between July 1, 2020, and July 24, 2024, a considerable number of enterprises have shifted to medium enterprises.

During the financial year 2020-21 to 2021-22, 714 micro enterprises transitioned to medium and 3,701 small enterprises upgraded to medium enterprises, as per the ministry’s information.

This figure continued to grow, with the financial year 2023-24 to 2024-25 showing further increases, where 2,372 micro enterprises and 17,745 small enterprises scaled up to medium.

“As India aims to establish itself as a global economic leader, the MSME sector plays a crucial role in fostering innovation, creating jobs, and boosting export competitiveness,” the ministry remarked.

MSMEs are the backbone of India's economic framework, essential for job creation, promoting entrepreneurship, and driving economic development.