FTAs, strong domestic demand boost MSME prospects: Jitin Prasada

New Delhi: The free trade agreements (FTA) signed by India and the strong domestic consumption market offer significant opportunities for micro, small and medium enterprises (MSMEs), said Jitin Prasada, union minister of state for commerce & industry and electronics & information technology.

"The government has given you a market where if you build a quality product, which has international compliances and international quality, nothing can stop you," Prasada said at the Ficci FLO National MSME Awards ceremony on Monday. "You will be a major player in the world soon because it's such a big market that's opened." He noted that India now has a trade agreement covering a large portion of the developed world. "Practically, 65% of the developed world market we have our free trade agreements with," he said.