In 2021, 165 MSMEs made sales to India, which implied a rise of 22% compared to the 135 that exported in 2020.
Of this total, 30 were microenterprises (18% of the total), 63 were small firms (38%), and 72 were medium-sized (44%).
The shipments represented 2.4% of the total exported to the emerging giant of Asia, which last year reached US$4,242 million.
In this regard, the Minister of Productive Development, Matías Kulfas, pointed out that from the beginning of the current administration, “internal growth was articulated with an export strategy that values the great capacities that Argentina has.”
“We carry out different policies to promote sales to the foreign market, such as the readjustment of export duties, with less export duty at higher value added, and greater export refund at higher value added; or export duty 0 for SMEs , among other measures to promote the growth and development of Argentine companies,” added the minister in a statement.
Last year, exports of manufactures of agricultural origin (MOA) led sales to India, with 55% of shipments. Manufactures of industrial origin (MOI) followed with 32%, and primary products, with 13%.
The main products traded were fats and oils, wood, leather and skins.
The companies located in Santa Fe and Buenos Aires were the ones that sold the most to this destination, representing 45% and 21% of the total exported, respectively. The participation of Mipymes from Entre Ríos and Chaco was also important.
The head of the Secretariat for Small and Medium Enterprises and Entrepreneurs (Sepyme), Guillermo Merediz, stressed the importance of “continuing to increase and add value to products exported to India and to all destinations.”
“Along with the specific instruments to help MSMEs exports, we are working on training and capacity-building activities in this segment of companies, as well as specific lines of financing to promote and develop these capacities,” added the official.
Foreign Minister Santiago Cafiero, who is on tour in that country, highlighted the increase in trade flow in both directions: “India is the fourth largest trading partner globally from the point of view of total bilateral trade, accounting for 5.5 % of total Argentine exports”.
For Cafiero, “the objective is to increase bilateral exchange in products such as soybean and sunflower oil, and add new products, as well as evaluate complementarities in the knowledge economy sector.”
In order to increase the productivity and competitiveness of companies, Sepyme assisted 101 exporting MSMEs to India in the last two years with a total amount of $932 million. The support materialized through direct credits from the National Productive Development Fund (Fondep) and through banking entities, guarantees, non-reimbursable contributions (ANR), training and technical assistance.
Exports of micro, small and medium-sized companies at a general level totaled US$10.8 billion last year, the highest level in 6 years and a year-on-year increase of 15%. In this way, shipments to India represented 1% of the total exported by MSMEs in 2021.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
