New Delhi, Mar 10 (KNN) Union Minister of State for Commerce and Industry and Electronics and IT Jitin Prasada said that Free Trade Agreements (FTAs) are opening new opportunities for India’s micro, small and medium enterprises (MSMEs) by providing access to major developed markets.
Speaking at the Federation of Indian Chambers of Commerce and Industry (FICCI) FLO National MSME Awards, the minister noted that agreements with regions including the European Union, United Kingdom, Australia and New Zealand offer Indian MSMEs access to a large share of global markets, enabling them to integrate into international supply chains.
He emphasised that MSMEs must move beyond low-cost manufacturing to quality-driven production, noting that nearly 65 per cent of developed markets fall within India’s FTA network and demand high-quality products.
He also said that zero-duty access does not mean substandard goods can enter the Indian market, as Indian consumers increasingly seek better-quality products.
Focus on Technology and AI
Prasada also highlighted the growing role of Artificial Intelligence, saying the technology is transforming sectors such as healthcare, transportation, manufacturing and services.
He encouraged MSMEs to adopt AI-based tools to improve productivity, efficiency and decision-making.
Push for Women-Led MSMEs
Subhransu Sekhar Acharya, Chairman and Managing Director, National Small Industries Corporation (NSIC), stressed the need to promote women-led enterprises through digital empowerment and skill development.
He highlighted the Trade Enablement & Marketing (TEAM) initiative aimed at onboarding five lakh MSMEs onto the Open Network for Digital Commerce (ONDC) platform, with a target that 50 per cent should be women-led businesses.
Poonam Sharma, National President, FICCI Ladies Organisation (FLO), said women entrepreneurs are increasingly driving innovation and economic activity across sectors.
She noted that FLO has set up an MSME Assist Cell to support women entrepreneurs through mentorship, funding guidance, technology adoption and business development support.
(KNN Bureau)
