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Budget 2024 | Govt to set up ecommerce export hubs for MSMEs: FM Nirmala Sitharaman

Economic TimesEconomic Times · 5m
Budget 2024 | Govt to set up ecommerce export hubs for MSMEs: FM Nirmala Sitharaman

The Indian government plans to establish ecommerce export hubs in order to support micro, small, and medium enterprises (MSMEs) and traditional artisans to enter international markets. These hubs will be established as public-private partnerships. The move aims to improve efficiency in operations and enhance market accessibility, including exports, for direct-to-consumer (D2C) businesses, small vendors, and aggregators. Additionally, the budget includes measures such as reducing the turnover threshold for mandatory onboarding on TReDs platform, opening new branches to serve MSMEs, and implementing a credit guarantee scheme for MSMEs. The government's efforts to promote ecommerce exports were also highlighted in the recent Economic Survey.

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