Saurabh Gupta | 05 Jun, 2013
The Federation of Indian Export Organisations (FIEO) and the
Japan External Trade Organisation (JETRO) have agreed to jointly promote business
ties between the Indian and Japanese small and medium enterprises (SMEs), informed FIEO
"SMEs are the one who are more aggressive for partnership concern or the proprietorship
concern...so they have the potential but they don't know how to do business in Japan.
That's why FIEO along with JETRO come
forward to help them," Vice President, FIEO, Amit Goyal told SME Times on
the sidelines of a seminar on Emerging Business Opportunities under Indo-Japan
Economic Partnership, jointly organised by FIEO and JETRO in New Delhi.
"Our emphasis is on the SME sector because 70 percent of our members are
SME. The big players like Tata or Reliance, don't need a handholding. They have
their own marketing team, research team and they know everything. But SME
sector wants support. So our focus is
going to be only on the SME sector," he added.
FIEO in association with JETRO is organizing a three
prong strategy to help SMEs of the two nations. "One is having aggressive
seminars in metros, plus two tier cities. Second is to have exchange of delegation.
We will take the SME delegation to Japan and exchange their delegation and then
have B2B meeting with them. And the third
would be to participate in their leading exhibition and invite their exhibitors
to come to India in the various exhibitions that we are having here," said
Speaking at the occasion, Joint Secretary in the External Affairs Ministry G H Bambawale said that huge business opportunities exists in both the countries to enhance economic relations.
Japan is one of India's main trading partners and offers vast potential and business opportunities
for trade and investment between the two countries in goods and services.
These opportunities have further increased
after the signing of CEPA in Feb 2011. India is also emerging as a favoured
destination in Asia for Japanese FDI. There has been increasing trend in FDI in
recent times, especially in automobile industry, electronic equipments,
telecommunication sector etc.
During April 2000 and March 2013, India has received USD 14.55 billion FDI from Japan. Since 2002, bilateral commerce between the countries have increased by six times. Currently it stood at USD 18.77 billion, Tamaki Tsukada, Minister (Economic), Embassy of Japan in India said in his address to seminar.
These types of seminars will focus on the
business opportunities in goods and services between the two countries.
When asked, how many Indian SMEs will be benefited with this exercise, Goyal said,
"In FIEO we have about 17,000 members and if I say about 60 percent of
them are SMEs. That means we are talking about close to 10,000-11,000 SMEs."
"I would say out of this I am able to convert even only 10 percent of my
member, which is about 1000 members, I would have achieve a major task,"