At a recent webinar organized by The Dialogue, a Delhi-based public-policy think-tank, on “Make in India for the World – The revival of the Indian economy and the role of MSMEs” Gopal Jain, Senior Advocate, Supreme Court of India spoke about how MSMEs, with an enabling policy framework and seamless implementation on the ground as well as exports, will be critical for the revival of the Indian economy. He said, “As India moves in the direction of becoming an Aatmanirbhar nation aligned to Hon’ble Prime Minister’s vision, Indian MSMEs will play a big role in translating that vision into a reality. I am extremely happy to note that some of the sellers have doubled their exports through e-commerce during COVID 19 times while a global business downturn was seen. The need of the hour is to expedite the policy push to support MSMEs and also promote exports by reducing barriers and intermediaries. This would only be possible if we ensure seamless implementation and execution on the ground leading to the revival of the MSME ecosystem and helping us achieve the critical national objectives of FDI promotion, job creation, livelihood promotion, and an improved consumption demand amidst the current economic slowdown.”
The panel extensively discussed the role of exports in the Indian economy and how in contrast with a decline in exports recently, Indian MSMEs selling to international customers via ecommerce and online channels managed to sustain as well as build their businesses further.
Jain went on to say that, “The last three months, bear witness to the fact that e-commerce has been an effective channel for exports. The need of the hour is to adopt a culture that incentivizes this and builds this into the country’s ecosystem. Indian MSMEs need all the support from the Government as well as access to export channels like ecommerce that provide direct and immediate access to customers globally. It is important to formulate the necessary policy and regulatory culture that is favourable to boost exports, increase FDI and provide necessary support to MSMEs.”
For India to become an attractive export destination the Government must play the role of an enabler to allow sectors and businesses to grow. A forward looking approach focusing on implementation and execution, with minimal obstacles, is the need of the hour. The e-commerce sector offers multiple options on the economic front and therefore should be top priority for the government.
“There are three ways in which this can be achieved. Firstly, focus on the ease of doing business and increased flexibility, secondly, incentivizing businesses, whether it is through investments or getting rid of procedural bottlenecks and thirdly, providing necessary support to the e-commerce sector that in turn must deliver on exports, FDI, MSMEs, jobs and livelihood. These would curate the right script for India to be a box office hit in the new world order!” – added Jain.