The share of MSME sector in India’s merchandise exports stood at around 48 per cent in 2018-196. This signifies that Indian MSMEs are becoming globally competitive and their products/services are being accepted overseas. In this background, special attention needs to be given to improve the competitiveness and technology up-gradation endeavours.
Various 1/5  BIS central bankers' speeches  schemes and programmes of the Government, therefore, should be continued and effectively implemented. II. Challenges in the MSME sector 7. Despite the MSME sector contributing significantly to the economy, it continues to face several challenges.