Trade pacts open doors for small exporters, Modi says

Prime Minister Narendra Modi has urged micro, small and medium enterprises (MSMEs) to fully leverage India's growing network of free trade agreements (FTAs), which exporters say offer small businesses access to larger global markets and improved competitiveness. Speaking on the 80th Independence Day on Saturday, Modi said India has finalised FTAs with about 40 countries since 2014 and called on small enterprises to tap these opportunities to expand the global reach of Indian products such as textiles, machinery and medicines.

The Economic Times reports that exporters welcome the government's move. Former chairman of the Council for Leather Exports Aqeel Panaruna said with progressive trade pacts and foreign trade policy opening new opportunities, India is firmly positioned for sustained growth. He added that the real opportunity lies in converting preferential market access into export orders.