FISME (The Federation of Indian Micro and Small & Medium Enterprises) has requested the government to make a thorough review of the role of all the institutions that are ordained to assist export related matters. These export supporting bodies include names of Exim Bank and Export Promotion Councils (EPC).

Keeping in mind the upcoming Union Budget, the industry body for MSMEs claimed that the export support establishments including EPCs and boards were not being able to understand the various emerging barriers and needs a complete remodeling.

“The role of export support institutions/EPCs/Exim Bank needs to be thoroughly reviewed in consultation with the beneficiary group to really help exporters in changed economic realities,” said the industry body for MSMEs. The budget recommendation has brought into limelight the fact about merchandise exports being directly linked to being competitive in manufacturing, regarding quality and price matrix, and highlighting the role of the government's business entities that have critical bearing on manufacturing and export capabilities. Furthermore, the federation believes that a minimum of 50 per cent of market development funds should be earmarked for MSMEs as half of exports are from this segment.

It has also advocated that delay in refund of Goods and Services Tax (GST) to exporters should be strictly monitored through live dashboards and all public sector enterprises should be mandated to gear up for exports and develop their supply base or ancillaries comprising of MSMEs in India by building their capabilities to boost exports. Cionsidering which it comments, “India's integration with world trade is deep now and we need to leverage FTAs to benefit from participation in GVCs. If we don't leverage them right, we shall end up importing almost everything and that too at higher cost. While being open to FTAs, FISME stresses that there has to be parity between ‘external liberalization’ through FTAs and internal reforms.”