India's MSMEs eye global markets through FTAs

India's micro, small, and medium enterprises (MSMEs) are finding new global market opportunities through free trade agreements (FTAs) and economic partnerships. Bharat Khera, Secretary of the Ministry of MSME, emphasized at a CII summit that improving quality and competitiveness is essential for these businesses to succeed internationally.

The Ministry has identified five key priorities to strengthen the sector: formalization of enterprises, access to finance, quality improvement and technology adoption, export competitiveness, and entrepreneurship and skill development. Efforts to formalize the economy have led to 9.8 crore enterprises registering on the Udyam platform. Additionally, financing through the Trade Receivables Discounting System (TReDS) saw a significant increase, rising from Rs 40,000 crore in 2022-23 to Rs 3.5 lakh crore in the last financial year.

As India's export ecosystem expands, entrepreneurs are working to address operational challenges such as complex export procedures, market identification, and international compliance. Initiatives like the ALTIRA EXIM Academy aim to provide structured training in logistics, documentation, and supply-chain readiness to help MSMEs and manufacturing businesses scale their international operations.