Karnataka’s MSME Sector Poised for Rapid Growth

Bengaluru , July 4, 2019 : Export-Import Bank of India (Exim Bank) organized an interaction on the theme ‘Opportunities for MSMEs on International Trade’. The programme was attended by industry stakeholders from Karnataka, with speakers from Exim Bank, Government, the Directorate General of Foreign Trade, industry players, the Federation of Indian Export Organisations, and ECGC Ltd. Shri Devasish Paul, IRS, Assistant Commissioner, Mysuru Customs was the Chief Guest for the event. In his address, Shri Paul highlighted Karnataka’s strength in terms of the large base of software companies, robust infrastructure facilities, and a skilled labour pool. He outlined how the policy environment in the State has not only helped drive growth of the larger enterprises but also facilitated growth in the State’s MSME segment. Speaking on the occasion, Shri Utpal Gokhale, General Manager, Exim Bank, noted that Karnataka accounts for nearly 6 percent of India’s total MSMEs, and the sector is poised for rapid growth and integration with global value chains as the State continues to receive strong FDI inflows. Shri Gokhale spoke Exim Bank’s inclusive approach to export financing for grassroots level firms in Karantaka, through not only financial support, but also capacity building, skill development, and export marketing. Shri Sandeep Kumar, Deputy General Manager and Regional Head at Exim Bank’s Bengaluru Regional Office, reiterated the substantial contribution of MSMEs to economic output, exports and employment. He outlined the significant scope for MSME exporters to leverage Exim Bank programmes, such as Market Advisory Services (MAS) and Grassroots Initiative and Development (GRID), in pursuit of fulfilling their ambitions and establishing a presence in the international market. Shri Sandeep Kumar highlighted some success stories of support to artisans and entrepreneurs in Karnataka. He apprised exporters about ‘Exim Mitra’- a portal offering a diverse range of information, advisory and support services, which reach out to potential as well as existing exporters to enable them evaluate international risks, exploit export opportunities, and improve competitiveness.