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SMEs can now get access to global markets

Update On :02 July 2016

SMEs can now get access to global markets

E-commerce platform is fast emerging as a new trend in global trade and SMEs should use this medium to get direct access to the world markets, a top government official said.

Commerce Secretary Rita Teaotia said the e-commerce platform significantly reduces the interference of middleman and can provide best value for the products manufactured by small and medium enterprises (SMEs).

"We should make use of new trends in global trade. Use of e-commerce platform could provide market access across borders. In the long run, e-commerce will increasingly become a significant route to create opportunities for SMEs to have direct access to the world markets and to get the best value for their products," she said here.

She was speaking at a function organised by Federation of Indian Micro and Small and Medium Enterprises (FISME) and Commonwealth Secretariat, London.

As SMEs play an important role in exports, manufacturing and employment generation, there is a need to address their issues related with regulations, intellectual property rights and standards, the secretary noted.

This would help them in linking effectively with the global value chains, she added.

Easy access to credit and technology are also important to move them up to the value chain, she said, adding Indian manufacturing activities needs to be located in least developed countries also.

It would help in giving access to the markets of developed countries as the least developed countries (LDCs) get duty preferences in those markets.

Talking about the LDCs, the secretary said India has given huge market access to the products of those countries.

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