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Indian Exporters Should Explore new Markets: Official.


Date: 03-12-2011
Subject: Indian Exporters Should Explore new Markets: Official

The Indian exporters should compete aggressively in the international market and also explore new markets making use of the incentives and facilities offered by the Central Government, the Zonal Joint Director-General of Foreign Trade (south zone) and also the development commissioner for Sri City SEZ Anil Kumar Bamba said here on Friday.

Speaking at a seminar on foreign trade policy and export promotion organised jointly by the Andhra Chamber of Commerce and the GITAM School of International Business, he said that Indian exporters were relying too heavily on the European market and the USA. They should explore the African, Latin American and other markets and exports should also not be confined to a few products and services but comprise a wide range.

Noting that India was lagging far behind China in exports, he called for all efforts to catch up with that country soon. Indian exports hardly amounted to $ 200 billion against China's $ 1,500 billion was very challenging.

He said the Central Government had recently announced the Niryat Bandhu policy to help the new exporters and the guidelines would be formulated soon. “It will be of immense help to the newcomers. Till now, most of the policies have only helped the existing exporters and newcomers used to find it hard to establish themselves,” he said.

Joint Director-General of Foreign Trade-Visakhapatnam K. Kuppurajan spoke about the latest policy changes and incentives being offered to the exporters. Dr. V.L Rao of the GITAM School of International Business spoke about the current scenario of Indian foreign trade.

He said the results of India's export diversification efforts were not very visible and therefore a more focussed, result-oriented approach was needed from now on.

Export consultant Ganapathi explained about the export opportunities opening up in West Africa and exhorted the Indian exporters to make use of them. President of GITAM University M.V.V.S. Murthy and Secretary-general of the Andhra Chamber of Commerce P. Nandagopal also stressed the need for market diversification.

Source : thehindu.com


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