Statement by India at the 59th session of the Joint Advisory Group of the International Trade Centre (ITC) delivered by Mr. Gaurav Kumar Thakur, Counsellor, Permanent Mission of India, Geneva, 27 June 2025
Thank you Chair.
Let me begin by extending my heartfelt congratulations to you on assuming this important role. I also wish to express our deep appreciation to the outgoing chair for her distinguished leadership. Our sincere thanks goes to the Executive Director and the entire ITC team for their efforts in organizing today’s meeting.
Micro, Small, and Medium Enterprises are not merely participants in the global economy; they are its very heartbeat. Across continents and cultures, MSMEs are the engines of export-led growth, the creators of millions of jobs, and the crucibles of innovation and entrepreneurship. They sustain the fabric of our economies, nurture the growth of larger enterprises through dynamic ancillary clusters, and stand as the vanguard of private enterprise.
The MSME sector’s contribution to India’s Gross Value Added has risen impressively from 27.3% in 2020-2021 to 30.1% in 2022-2023. Even more striking is the surge in MSMEs engaged in export activities—from just over 52,000 in 2020-2021 to more than 173,000 in 2024-2025. These numbers underscore the sector’s pivotal role in driving India’s economic progress.
Recognizing the immense potential of MSMEs, the Government of India has launched a series of bold and forward-looking initiatives. We have focused on expanding access to credit, fostering digital transformation, enhancing competitiveness, and enacting business-friendly reforms. Our Digital Public Infrastructure has been a game-changer—democratizing access to finance, streamlining digital payments, and providing insurance solutions tailored to the needs of small businesses. These digital tools are breaking down barriers and empowering MSMEs to participate fully in the global marketplace. We remain eager to collaborate with ITC and all other partners in these areas.
Our partnership with ITC is a source of great pride. Together, we are integrating ITC’s market intelligence tools with the Indian Trade Portal, enabling MSMEs to identify global opportunities. Let me also recall the Executive Director’s visit to India earlier this year, for the inauguration of the ‘She Trades Hub’ in New Delhi. This initiative for empowerment for women entrepreneurs was widely appreciated in India.
Turning to ITC’s annual report, my delegation wishes to underscore the significance of the 45% LDC delivery target in the current Strategic Plan. While we recognize that these ambitious targets are yet to be fully realized, we urge that the commitment to priority country groups should remain steadfast in the forthcoming Strategic Plan. The aspirations of the most vulnerable must remain at the heart of our collective efforts.
We also recommend ITC continue to work with MSMEs in its core areas of expertise—especially in trade and market intelligence, capacity building, and trade facilitation. These initiatives are vital for strengthening MSME competitiveness.
Mr. Chair
India is concerned about the proliferation of unilateral trade measures, often justified on environmental grounds, which can inadvertently undermine the competitiveness of MSMEs in developing countries. We call upon ITC to intensify its support for these MSMEs, helping them navigate these new challenges so that they are able to retain their competitive edge. We also see a tremendous scope for ITC’s next Strategic Plan to focus on digital transformation and the implementation of Digital Public Infrastructure, ensuring that MSMEs everywhere can access affordable and effective digital solutions.
Mr. Chair
We are also looking forward to the forthcoming SME Ministerial in South Africa, where India will participate at the ministerial level. We are honoured to lead the ‘Access to Finance’ track, and reaffirm our support to ITC and hosts South Africa in making this event a success.
In closing, let me reiterate India’s unwavering commitment to deepening our partnership with ITC. Together, let us strive for inclusive and sustainable development that leaves no one behind. We also look forward to engaging constructively in the discussions related to ITC’s Strategic Plan 2026-2030.
Thank you.
