New Delhi, Feb 8 The Confederation of All India Traders (CAIT) said on Sunday that the Micro, Small, and Medium Enterprises (MSME) sector of India sees greater opportunities of business in the American market with the finalisation of the first tranche of the India-US trade deal.
"This trade deal reached under the visionary and decisive leadership of Prime Minister Narendra Modi marks a major milestone in India's journey towards becoming a global economic powerhouse comes as a boon for the MSME sector. This agreement reflects India's growing stature as a confident, competitive and reliable trade partner on the world stage," a CAIT statement said.
CAIT Secretary General Praveen Khandelwal said that the trade deal will significantly benefit several key Indian sectors, including textiles and apparel, leather and footwear, gems and jewellery, generic pharmaceuticals, automobile and aircraft components, chemicals, plastics and rubber products, home decor, handicrafts and select engineering goods.
Improved market access and tariff rationalisation will enhance India's export competitiveness in the world's largest economy, he added.
He also said that most importantly, the agreement provides a strong and timely boost to the MSME sector, which forms the backbone of India's economy.
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It will also strengthen the "Make in India" initiative by integrating Indian enterprises more deeply into global value chains, Khandelwal added.
"At the same time, the agreement safeguards India's core national interests, particularly in sensitive agricultural and rural sectors, underscoring the Indian government's balanced and farmer-centric trade approach," the CAIT Secretary General said.
"Overall, the India–US trade deal is a forward-looking initiative that will accelerate exports, promote entrepreneurship and reinforce India's path towards "Atmanirbhar Bharat" and "Viksit Bharat"," Khandelwal added.
CAIT is the apex national body representing more than nine crore traders and 40,000+ trade associations in India's non-corporate sector.
Established in 1998, it advocates the interests of small businesses and retailers, focusing on policy reforms, digital adoption, and promoting fair trade practices.
CAIT acts as a bridge between the government and the trading community to foster, support, and sustain the growth of small and medium-sized enterprises.
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