The Confederation of All India Traders (CAIT) highlighted the potential for India’s Micro, Small, and Medium Enterprises (MSME) sector in the American market following the finalization of the initial phase of the India-US trade agreement. Under Prime Minister Narendra Modi’s leadership, this deal is viewed as a significant step towards positioning India as a global economic force. CAIT Secretary General Praveen Khandelwal emphasized the benefits across various Indian sectors such as textiles, pharmaceuticals, automobile components, and more.
Improved market access and tariff rationalization are expected to boost India’s export competitiveness in the US, according to Khandelwal. The agreement is particularly seen as a positive development for the MSME sector, crucial to India’s economic framework. By expanding export opportunities, MSMEs can enhance production, create jobs, and contribute to initiatives like “Make in India” and global value chain integration. Additionally, the deal is aligned with India’s self-reliant and developed nation goals.
CAIT, representing a vast network of traders and associations in India, serves as a key advocate for small businesses and retailers. Established in 1998, the organization plays a pivotal role in championing policy reforms, digital transformation, and fair trade practices. Acting as a liaison between the government and the trading community, CAIT aims to nurture the growth of small and medium-sized enterprises in the country.
