Budget to boost exports, investments, MSMEs: Hi-Tech Gears chairman

A series of measures announced in the Budget such as steps to boost exports, investments, and promote MSMEs will help accelerate the country's economic growth, international trade expert and Hi-Tech Gears Chairman Deep Kapuria said on Sunday.

He said that the focus on agriculture will help in raising farmers' income and give a big boost to rural demand.

The budget has made provisions for enhanced credit availability and clean tech manufacturing for the MSME sector and it is fundamental as this segment is responsible for 45 per cent of India's merchandise exports, Kapuria said.

"This budget is aimed towards accelerating growth, securing inclusive development, and invigorating private investments," he added.

The proposal for an Export Promotion Mission will facilitate easy access to export credit, cross-border factoring support, and support to MSMEs to tackle non-tariff measures in overseas markets.

"Besides, a digital public infrastructure, 'BharatTradeNet' for international trade will be set up as a unified platform for trade documentation and financing solutions. This will complement the Unified Logistics Interface Platform," Kapuria said.