FIEO organised Stakeholders Consultation with view to give fillip to export sector and make India export hub

Ludhiana, October 6, 2017: Federation of Indian Export Organisations organized a Stakeholders Consultation with a view to give a fillip to export sector and make India an export hub. The consultation was chaired by the Hon’ble Commerce & Industry Minister Shri Suresh Prabhu along with Mrs Smriti Zubin Irani, Textiles Minister; Shri Ananth Kumar, Minister for Chemicals & Fertilizers and Shri C R Chaudhary, Minister of State for Commerce & Industry. Export Promotion Councils, leading Associations, Local Chambers and Exporters representing large, medium and small sectors participated in the discussions.

The deliberations flagged the global and domestic challenges faced by the exporters as well as possible solutions to overcome such challenges. Shri Ganesh Kumar Gupta, President, FIEO suggested to devise an export linked employment Scheme to help job creation and migration of informal workers to formal sectors. President, FIEO also suggested an annual interaction with the bankers to impress on the pro-active role which they have to play to facilitate country’s exports. For showcasing of Indian products to help marketing of MSME goods, Mr Gupta suggested to open display centres in important markets starting with China where we require change in product profile of exports to address rising trade deficit. President, FIEO also suggested to have an annual interaction with Ambassadors of Foreign Missions in India and Indian Missions abroad so that they can also augment the commercial and economic relation between India and rest of the countries.

The meeting also provided inputs for a new export strategy focusing on integrating India into Regional/Global Value Chain, a stable Agri-Export Policy to provide remunerative returns to farmers, focus on high and medium technology sectors of exports, revisiting focus area approach and unleashing the potential of services such as tourism, professional services and e-Commerce. Exporters also highlighted their concerns under the GST Regime and its impact on competitiveness of exports.

The Minister assured that all the issues raised by the exporters will be duly examined and shall be suitably incorporated in the Foreign Trade Policy. He also said that the priority of the Government is to simplify the procedure so as to add to the Ease of Doing Business. The Commerce & Industry Minister said that there is need to revisit the export strategy in view of emerging global development with increasing protectionism and high volatility in currencies.

Interacting with the media soon after the Stakeholders’ consultation on Exports, the Commerce and Industry Minister said that we will all work together to realize the full exports potential.

During the media interaction, Commerce Secretary further added that the mid-term review of the FTP is an ongoing process for which we are continuously interacting will all the stakeholders. She reiterated that GST issues are not the reason for delay in coming out with the mid-term review of the Foreign Trade Policy. However the Commerce Minister has to take a call on that. On achieving the trade target of USD 900 billion, she said that we are not aiming to meet the USD 900 billion target because of global uncertainties.