Srinivas noted, “India is one of the world’s largest and most democratic consumer markets. If industry can cater to India, it automatically gains a platform to serve the world. Our goal is to create an ecosystem where MSMEs can grow from small to medium and eventually become large enterprises.”

The minister urged CII to work closely with government agencies to develop policies that support MSME growth with particular focus on standardization and certification to help Indian products gain acceptance in global markets. This, he said, can be done after establishing more testing and certification labs and educating the industry on compliance with international standards.

He said, “Indian MSMEs must be guided to take maximum advantage of FTAs and global market access opportunities.”