PM Narendra Modi urges MSMEs to use FTAs for exports
Prime Minister Narendra Modi is encouraging India's micro, small, and medium enterprises (MSMEs) to use the country's growing free trade agreements (FTAs) as a springboard for exports.
Since 2014, India has signed FTAs with about 40 countries, including the UAE, Australia, and the UK.
Modi highlighted that sectors like textiles, machinery, and pharma have big potential for international growth.
FIEO stresses rules of origin
Industry leaders say it's not just about lower tariffs: MSMEs need to really understand these agreements to tap into global markets.
The Federation of Indian Export Organisations (FIEO) points out that knowing the rules of origin and regulatory standards is key.
With MSMEs making up nearly half of India's exports already, getting smart about FTAs could help more smaller businesses scale up and connect with the world.