India's FTAs become game changers for SMEs: Expert

India’s small and medium enterprises (SMEs) are rapidly transitioning into global contenders, due to India’s free trade agreements (FTAs) and their focus on digital transformation, said Khagen Murmu, Member of the Parliamentary Standing Committee on MSMEs, on Thursday.

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At a 'Global SME Conclave' organised by AS-SOCHAM, Murmu highlighted the transformative impact of FTAs with the UAE and Australia, as well as ongoing engagements with the European Union (EU).

“These agreements are proving to be game changers for Indian MSMEs. By enabling zero or minimal tariff access, they are significantly enhancing the competitiveness of Indian products particularly in sectors like textiles, handicrafts and engineering across international markets,” Murmu said.