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Export opportunities for engineering fabrication units on the rise.

Date: 24-11-2016
Subject: Export opportunities for engineering fabrication units on the rise

Engineering fabrication units in Tiruchi should explore export opportunities, taking advantage of the benefits extended by the government, said speakers at an export awareness programme for the engineering cluster organised by the Federation of Indian Export Organisations (FIEO) in association with the Directorate General of Foreign Trade and the Tiruchi District Tiny and Small Scale Industries Association here on Thursday.

The meet was organised under the Niryath Bhandhu Scheme of the Union government to sensitise entrepreneurs on the opportunities available in global trade.

Speaking at the meet, K. Unnikrishnan, Joint Deputy Director General, FIEO, said the country’s exports had shown positive growth during October and the prospects for export-oriented entrepreneurs were good. Entrepreneurs could explore opportunities in African and Latin American countries, besides India’s neighbouring countries for opportunities.

“Huge opportunities are coming up for micro, small and medium industries. Due to global recession, importers are not making bulk purchases any more but are looking for supplies in smaller quantities. Look at countries with which India has free trade agreements to gain access to the markets,” he told the entrepreneurs.

It was also important that entrepreneurs focussed on quality and innovation. Engineering units here should invest in technology upgradation, research and development, he said and added that FIEO offered several services to exporters including marketing support. Exporters can obtain basic information online at the website www.indiantradeportal.in

V. Murugesan, Deputy Director General of Foreign Trade, Chennai, while explaining the incentives and benefits extended to exporters by the government, said the office of the Directorate General of Foreign Trade, provided orientation training for exporters and prospective exporters to help them understand the intricacies of the trade. Sensitisation programmes were being organised for industry clusters and one such programme has been held for the artificial gems manufacturing industry in Tiruchi. The Niryath Bhandhu programme was intended to help first time exporters through hand holding, he said.

N. Kanagasabapathy, president, TIDISSIA, observed that there was good scope for entrepreneurs of Tiruchi to expand their business through exports.

H. Rajasekar, Assistant Commissioner of Customs, spoke on the trade facilitation measures put in place. “The Customs is now more of a facilitator rather than a regulator of import and exports. Many of the procedures have been simplified,” he said.

Presentations on credit risk management, trade finance and risk management were made by experts from different agencies.

Source : http://www.thehindu.com/

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