New Delhi, March 9: Union Minister Jitin Prasad announced on Monday that recent free trade agreements (FTAs) with major global markets will provide significant opportunities for India’s micro, small, and medium enterprises (MSMEs) to boost exports and integrate into global supply chains.
Speaking at the National MSME Awards ceremony organized by the FICCI Ladies Organization (FLO), the minister highlighted that trade agreements with regions including the European Union, the United Kingdom, Australia, and New Zealand will grant Indian MSMEs greater access to developed markets.
Prasad emphasized that MSMEs, considered the backbone of the Indian economy, should shift from scale-based, low-cost manufacturing to quality-driven production. He stated, “Approximately 65 percent of developed markets are now part of the FTAs established by the country. These nations demand high-quality products, and Indian manufacturers must strive to meet global standards.”
He also stressed that zero-duty access should not permit low-quality imports into India. The minister expressed optimism that FTAs would enhance MSME exports, enabling them to integrate into global value chains while creating fair and inclusive market access opportunities for small businesses.
Prasad urged MSMEs to adopt emerging technologies like AI to improve productivity, efficiency, and decision-making capabilities. He noted that AI is becoming increasingly essential across various industries, from healthcare and manufacturing to transportation and services.
Meanwhile, Subhranshu Shekhar Acharya, Chairman and Managing Director of the National Small Industries Corporation (NSIC), highlighted the importance of targeted support, digital empowerment, and skill development in promoting women-led enterprises.
Acharya also shed light on the Trade Efficiency and Marketing (TEAM) initiative, aimed at including five lakh MSMEs on the Open Network for Digital Commerce (ONDC) platform, with a target of ensuring that 50 percent of these enterprises are women-led.
Additionally, Poonam Sharma, National President of FLO, stated that women-led MSMEs are emerging as powerful drivers of inclusive economic growth. She mentioned that FLO is working to strengthen women’s economic participation through entrepreneurship support, skill development, and policy advocacy.
The organization has also launched the FLO MSME Support Cell to provide guidance, access to financing, marketing assistance, and technology support for women entrepreneurs.
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