India looking at ways to provide MSMEs access to Govt buying of different countries

Posted under: MSME
Date: 2023-11-08
India looking at ways to provide MSMEs access to Govt buying of different countries

India is exploring avenues such as free trade agreements (FTAs) to facilitate the participation of domestic micro, small, and medium enterprises (MSMEs) in the public procurement processes of different countries, as stated by Commerce Secretary Sunil Barthwal. With public procurement constituting 10-15% of the GDP in many nations, estimated at around USD 10-15 trillion, numerous countries prioritize MSMEs in their procurement practices. India incentivizes MSMEs through special purchase preferences and foreign procurement opportunities, with provisions negotiated in India-UAE free trade agreement and proposed India-UK trade pact. The ITC's Global Trade Helpdesk simplifies trade-related information access for businesses, particularly MSMEs, promoting inclusivity and economic diversification through user-friendly interfaces and emerging technologies.

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