FIEO handholding and mentoring exporting community, assures Dr Sakthivel
Growing and diversifying merchandise trade itself says it all about the India’s growth story, which continues to remain intact year after year as one of the fastest growing economies, FIEO President Dr A Sakthivel says.
Though merchandise exports have seen some decline during the recent months mainly due to slowdown in the global growth process, rising inflation, volatility in currencies and continuous change in geo-political scenario, India has more so remained stable and resilient with its exports showing positive trends barring few sectors, he believes.
Over 8.5% export growth in the current fiscal so far is reasonable against the back drop of global headwinds and contracting global trade.
FIEO President is also of the view that though the coming months are going to be little challenging unless both global economic growth and geopolitical situation improves drastically, however, India will be on course to cross the previous year’s goods export target quite easily, touching almost US$435-$445 billion with a this fiscal growth of over 3-5% on the year.
Dr Sakthivel informed that FIEO continues to handhold and mentor the exporting community, thereby promoting India’s exports.
Dr Sakthivel gave his assessment of export potential and economic prosperity as the Federation celebrated 58th Foundation Day on 19 Feb 2023.
The Celebrations started with several key Capacity Building Programmes organised across the country under One District One Product and District as Export Hub initiative of the Ministry of Commerce and industry.
Earlier, the Federation has successfully conducted over 100 such Capacity Building Programmes on a pan-India basis during the last one year promoting more and more handholding and mentoring of exporters through training and skill development, thereby giving further boost to the country’s exports.
Over 1,000 new exporters joined the mainstream foreign trade sector through such training programmes in districts across the country, exporting goods worth over Rs.1,500 crore in a short span, said FIEO.
The culmination of the three weeks-long events will be showcasing “Make in India” through the event titled SOURCEX INDIA (9-11 March 2023) at New Delhi, further promoting Brand India across the Globe.
SOURCEX INDIA 2023 (Reverse Buyer Seller Meet – RBSM) will be India’s first Global Market Place for promoting Make in India brands to go global, covering both food & non-food Fast-Moving Consumer Goods (FMCG) as well as Services.
The RBSM will help companies to launch successful Indian brands on the international markets. Besides, SOURCEX INDIA will also showcase India’s selected services, which have the potential to be franchised overseas.
Further, it would also be highlighting major focus sectors including Food, Pharma & Ayurveda, Handicrafts, Handloom, FMCG & FMCD, Gifts, Textiles and Allied Commodities.
Over 250 buyers from across 35 countries and 7 regions representing supermarkets, hypermarkets, retail chains, importers and buying houses have already shown their interest and are expected to participate in this mega event, reiterated Dr Sakthivel.
The FIEO President also informed that during the last 10 months, FIEO has represented India in 39 International shows (36 Physical and 3 Virtual) in various new and emerging markets including Jordan, Kyrgyzstan, Serbia, Portugal, Bangladesh, Japan, Azerbaijan, Uzbekistan, Poland, Romania and Cuba among others through participation in International Expos held in the respective countries.
Besides, the Federation also organised “Best of India Expo” at Dhaka as a nodal agency of Department of Commerce and organised the first-ever business delegation to Philippines, International Conference on MSMEs with Speakers from Oman and Nepal and a B2B Meet with incoming 47-member business delegation from Tanzania.
FIEO also conducted an analysis for identifying a list of probable 75 textile districts having the potential to be developed like the Tirupur textile cluster.
Further, FIEO’s Business Incubation Centre provides handholding support to new entrepreneurs starting from selecting right product, identify export market, connecting with bankers, identify suppliers and helping them in logistics and documentation.
The Centre created right environment for export businesses and has turned over 500 new entrepreneurs into MSME exporters doing exports worth of over Rs.2,500 crore.
Besides, the Federation also provided support on a variety of issues relating to market access, standards, safety and regulations in overseas markets, said Dr Sakthivel. fiinews.com
