NewKerala.com

FTAs Open Major Export Doors for MSMEs, Says Minister Jitin Prasada

Union Minister Jitin Prasada stated that recent Free Trade Agreements with major economies will create significant export opportunities for India's MSME sector by providing access to developed markets. He urged MSMEs to shift from scale-based, low-cost manufacturing to quality-driven production to meet global standards. Officials also emphasized promoting women-led enterprises through digital empowerment, skill development, and initiatives like onboarding MSMEs onto the ONDC platform. The FICCI Ladies Organisation launched an assist cell to provide women entrepreneurs with mentorship, funding access, and technology support.

Key Points: FTAs Create Major Export Opportunities for Indian MSMEs

  • FTAs open access to developed markets
  • Shift from low-cost to quality-driven production
  • AI adoption urged for productivity
  • Support for women-led MSMEs highlighted
  • ONDC platform targets 5 lakh MSMEs
2 min read

FTAs open major opportunities for MSMEs to access developed markets: Jitin Prasada

Union Minister Jitin Prasada says FTAs with EU, UK, Australia, and NZ will boost MSME exports and integration into global supply chains.

"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. - Jitin Prasada"

New Delhi, March 9

Union Minister Jitin Prasada on Monday said that recent Free Trade Agreements 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.

- IANS

Share this article:

Reader Comments

P
Priya S
Glad to see focus on women-led MSMEs! The TEAM initiative for ONDC and the FLO Assist Cell are exactly what we need. Access to mentorship and funding is often the biggest hurdle. Hope these schemes reach entrepreneurs in tier 2 and 3 cities, not just metros.
A
Aman W
The minister is right about shifting to quality. We can't just be the world's cheap factory anymore. But adopting AI and new tech costs money. The government needs to provide more than just speeches—subsidies, easy loans, and practical training workshops are crucial for this transition.
S
Sarah B
Interesting perspective from India. Integrating MSMEs into global value chains through FTAs is a smart strategy for inclusive growth. The emphasis on women entrepreneurs is particularly commendable. The success will depend on execution and ground-level support.
K
Karthik V
Zero-duty access is a double-edged sword. While our exports get a boost, we must be very careful about cheap, sub-standard imports flooding our market and hurting local manufacturers. The government must have strong quality control mechanisms in place. Jai Hind!
N
Nisha Z
ONDC onboarding for 5 lakh MSMEs is an ambitious target! If implemented well, it can revolutionize digital sales for small businesses. Hope the process is simple and not bogged down by red tape. The 50% target for women-led enterprises is a welcome move. đź‘Ť

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Leave a Comment

Minimum 50 characters 0/50