Jaipur: MSMEs have to reinvest themselves by focusing on technology, improving productivity gains and upgrading the skill levels of its workforce so that they can join the global value chain, experts from trade and industry said here.

They said micro, small and medium enterprises (MSMEs) in India have to address the technology issues if they want to be a part of the global value chain.

“India is a leader in technology but unlike big corporations, MSMEs are yet to deploy them and gain competitive edge. Besides technology, productivity gains are very low. For competing on the global stage, we have to raise the bar,” said Dileep Baid of Exports Promotion Council for Handicraft.

He cited example of textiles industry where the wastage of fabric can be as high as 18% during the whole value chain and said it is even higher for handicrafts industry.

Assem Kumar, general secretary of Garment Exporters Association of Rajasthan, who also spoke at the MSME event organized by FICCI-Rajasthan, concurring the views said that there is enough scope for enhancing productivity by thinking innovatively.

Drawing attention to the evolving global trade situation, immediate past president of Carpet Exporters Promotion Council Mahavir Sharma said that the MSMEs have to remain alert to the new situation.

Sharma said, “If India does not join the Regional Comprehensive Economic Partnership (RCEP), some sectors like gem and jewellery and apparel will have to realign their strategies and that’s why MSMEs have to remain efficient and nimble-footed to adjust to any new scenario.”

Published On : 08-11-2019

Source : Times of India