Contrary to general perception that the appreciating rupee will further hit exports, particularly those from the micro, small and medium enterprises (MSME) sector, the Confederation of Indian Industry’s (CII’s) Business Outlook Survey revealed today that Indian MSME exporters are extremely positive about export prospects for the coming six months.
Although 71% respondents expect a negative impact on their bottomlines, an equal percentage expect an increase in growth of exports for their company, in terms of dollars.
Of the respondents who expect their profits to be affected, nearly 26% of them expect the export growth rate to be between 0-10%, 20% expect it to be between 10-20% and 25% expect export growth rate to be more than 20%, in terms of dollar, for their company.
The survey involving MSME members of CII, across the country, revealed that in the coming six months, 59% of respondents expect an increase in volume of their exports.
According to survey, top five regions for the exports by the MSME are Middle East Asia, Europe, Americas, Africa and South East Asia. A majority (87%) respondents foresee South East Asia as the emerging market for their exports, 63% expect Europe while 45% expect America to be the growing market for exports.
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