MSME | Export
RAMP & CBFTE schemes will make India sourcing hub for global players across value chain: EEPC India Chairman
New Delhi: EEPC India Chairman Mahesh Desai has said that the launch of the Capacity Building of First-Time MSME Exporters (CBFTE) scheme would give further thrust to the export sector and help India become a sourcing hub for global players across the value chain.
Prime Minister Narendra Modi on Thursday launched the Rs 6,062.45-crore World Bank-assisted central government program Raising and Accelerating MSME Performance (RAMP) scheme for MSMEs, three months after it was approved by the Cabinet chaired by PM Modi.
Desai said Engineering Export Promotion Council (EEPC) of India (EEPC) welcomed the launch of schemes by the Prime Minister to boost the MSME sector.
The Raising and Accelerating MSME Performance (RAMP) scheme would strengthen the MSME sector and complement various ongoing efforts to make India self-reliant, he noted.
The five-year RAMP scheme will begin in the current financial year 2022-23 even as it was announced back in 2020 by the government and the World Bank to support Covid-hit MSMEs in their business recovery.
Reacting to the announcement, Desai said, "With immense engineering export potential from the country, EEPC India has been encouraging small firms in tier-II and tier-III towns to tap the opportunity."
With almost 60 percent of over 12,000 members being MSMEs, EEPC India has been at the forefront in facilitating the growth of small and medium enterprises, he added.
"As engineering exports have been one of the key drivers of overall exports and accounting for nearly one-fourth of the total outward shipments, EEPC India would strive to set new milestones," Desai stressed.
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