New Delhi, March 10 -- Union Minister of State for Commerce and Industry and Electronics and IT Jitin Prasada said that Free Trade Agreements (FTAs) are opening new opportunities for India's micro, small and medium enterprises (MSMEs) by providing access to major developed markets.

Speaking at the Federation of Indian Chambers of Commerce and Industry (FICCI) FLO National MSME Awards, the minister noted that agreements with regions including the European Union, United Kingdom, Australia and New Zealand offer Indian MSMEs access to a large share of global markets, enabling them to integrate into international supply chains.

He emphasised that MSMEs must move beyond low-cost manufacturing to quality-driven production, noting that nearly 6...