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Exporters need to look beyond traditional markets
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Bikky Khosla | 11 Jan, 2011
The recent export figures came as a relief for all concerned as exports from the country showed a remarkable annual growth of 36.4 percent. With the US and EU markets doing well in December 2010, USD 22.5 billion exports were reported for the month raising expectations that we could be able to export USD 215-225 billion worth of merchandise in the current fiscal.
No doubt the latest export figure which is the highest in the last 33 months was mainly possible because of the diversification of India's export markets. For instance, there was a 112 percent rise in engineering export orders from Latin America which contributed substantially towards the growth of the country's exports.
However, if we are to keep up with this momentum, the authorities will need to act immediately on easing the bottlenecks related to infrastructure and transaction cost. I feel that although we are talking of crossing USD 500 billion by 2014-15, if the current bottlenecks remain it will certainly be a difficult task. Issues like fluctuation in exchange rate, reduction in transaction costs and investments in infrastructure need to be taken care of.
Exporters too need to now concentrate on the emerging economies in Asia, Latin America, Africa and Middle-East. I believe that these countries have an important role to play in enabling us to achieve this ambitious target. Meanwhile, industry bodies have also opined that exports to traditional markets of the US and Europe will go down by a couple of notches - all the more reason for exporters to explore new destinations.
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Exporters need to look beyond traditional markets
Jose Kury Coelho - ATK Advogados | Fri Jan 14 13:02:14 2011
As a former ViceChair of the Legal Committee of the Indian Brazilian Chamber of Commerce I see many business opportunities in Brazil for Indian exporters (now ranked as the 10th largest economy in the world and with a GDP growth rate of 7,5% - 2010), especially in the infrastructure & energy sectors. Brazil will be hosting the FIFA Football World Cup in 2014 and the Olympics in 2016.
Certification for export with good rate
Sakthivelrajan | Wed Jan 12 13:27:18 2011
Now this is the right time to the exporters to think about the certifications like SEDEX-ETI, BSCI, WRAP, SA8000, GOTS and OE. Now a days importers are looking for this type of certified manufacturing units product and they are ready to offer good rates also.
Proper encouragement to SMEs
Kalase Gowda | Wed Jan 12 10:25:07 2011
Editorial gives good insight for the policy maker. Export can be boosted if proper encouragement is given to small and medium enterprises. And also fluctuations in steel price is one of the dettering factor for small and medium scale engineering industry.
Special attention to Exporters
Anand Mohan | Wed Jan 12 06:41:07 2011
Indian banks should give special attention to Exporters for export packing credit on behalf of foreign orders in any shape either on L/C basis, either on bank guaranttee, either on DP or DA basis. Then export will boost with rocket speed.
Exporters need to look beyond traditional markets
Ajay Advani | Wed Jan 12 03:47:57 2011
Dear Friend,
I truly and whole heartedly agree with this. We have discussed this in this forum and I would once again want to stress that there are better markets than the Cash Strapped EU and US Markets. I am living and working in Myanmar since 16 months and I see a lot of potential for Indian made goods in Myanmar considering the big Indian population in Myanmar, the quality of Indian goods (Indian goods are considered premium quality in Myanmar as compared to Chinese which are considered poor and downgraded) and the near 20% appreciation of Myanmar currency which makes Imported goods much cheaper than locally produced ones.
I would like to admit that today the ASEAN Markets are the best markets to do business, since they are virgin and fast expanding, especially the little known countries like Cambodia, Laos, Vietnam, Brunei and the latest entrant to the ASEAN, East Timor.
I would however not agree to your point of fluctuating exchange rates in India as a roadblock. I believe that today the Indian currency is one of the most stable currencies of the world since the past 10-12 months and I think it is not a road block at all considering the fact that most of the other Asian currencies have appreciated as much as 20% in the past year.
All in all, I believe that the smaller roadblocks faced by exporters like exchange rates, logistics and infrastructure are inevitable and they have to find ways and means to tackle them. Stepping in newer markets will help ease these issues.
Agri export Potential
Dr J KNigam | Wed Jan 12 03:42:59 2011
Nice initiative. We welcome it. It's
true that we have to explore export opportunity to cater the growing
International market for maximum benefit. We have a range of Agri
produce,seeds etc to export for rest of the world. Our country should
make strategy to use its cheap land, skilled and unskilled manpower,
resources to produce food, seeds etc at very competitive rate,
exclusively for export purpose. The millionaires should also come
forward to nourish new ideas/ talent/ entrepreneurs and get maximum
return and satisfaction from generated employments. The best
initiative/ charity is to generate employment.
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