Ftas Open Major Opportunities For Msmes To Access Developed Markets: Jitin Prasada

(MENAFN- IANS) New Delhi, March 9 (IANS) Union Minister Jitin Prasada on Monday said that recent Free Trade Agreements (FTAs) with major global markets will create significant opportunities for India's MSME sector to expand exports and integrate into global supply chains.

Speaking at the national MSME awards ceremony -- organised by the FICCI Ladies Organisation (FLO) -- Prasada said trade agreements with regions including the European Union, the United Kingdom, Australia, and New Zealand will provide Indian micro, small and medium enterprises with greater access to developed markets.

The minister also said that MSMEs, which form the backbone of the Indian economy, should now shift from scale-based and low-cost manufacturing to quality-driven production.

“Nearly 65 per cent of developed markets are now part of FTAs. These countries demand high-quality products, and Indian manufacturers must step up to meet global standards,” Prasada said.

He also stressed that zero-duty access should not allow substandard imports into India.

The minister further stated that FTAs are expected to boost MSME exports by integrating them into global value chains while creating fair and inclusive market-access opportunities for small businesses.

Prasada also urged MSMEs to adopt emerging technologies such as Artificial Intelligence to improve productivity, efficiency, and decision-making. AI, he noted, is increasingly becoming essential across industries ranging from healthcare and manufacturing to transportation and services.

Meanwhile, Subhransu Sekhar Acharya, Chairman and Managing Director of the National Small Industries Corporation (NSIC) said the importance of promoting women-led enterprises through targeted support, digital empowerment, and skill development.

Acharya also highlighted the Trade Enablement and Marketing (TEAM) initiative, which aims to onboard five lakh MSMEs onto the Open Network for Digital Commerce (ONDC) platform, with a target that 50 per cent of these enterprises should be women-led.

In addition, Poonam Sharma, National President of FLO, said women-led MSMEs are emerging as powerful drivers of inclusive economic growth. She noted that FLO is working to strengthen women's economic participation through entrepreneurship support, skill development, and policy advocacy.

The organisation has also launched the FLO MSME Assist Cell to provide women entrepreneurs with mentorship, funding access, marketing guidance, and technology support.

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