: With aggressive marketing, 400 bn dollars export target achievable: FIEO #FinanceIndia #StockMarketNEWS With aggressive marketing, 400 bn dollars export target achievable: FIEO New Delhi, Jun 29 (KNN)
@stockMarketNEWS Thu 01 Jul, 2021
With aggressive marketing, 400 bn dollars export target achievable: FIEO #FinanceIndia #StockMarketNEWS
With aggressive marketing, 400 bn dollars export target achievable: FIEO New Delhi, Jun 29 (KNN) The Federation of Indian Exports Organisation (FIEO) has said that the 400 billion dollars export target for FY22 is a ‘little ambitious but achievable and requires aggressive marketing strategy and venturing into new markets.
The Government aims at an export of 400 billion dollars in the current fiscal. This looks a little ambitious but certainly achievable. Industry and Government should partner together to reach this milestone, an official statement quoted FIEO new president A Sakthivel as saying on Monday.
He further said that the stupendous export growth witnessed in the months of April and May 2021 provide the impetus but we have to keep the momentum.
The FIEO said that the Free Trade Agreements (FTA) with the UK, Europe, Australia, and the US would help further push the countrys exports.
One of the reasons for the success of Vietnam, in attracting investment and relocating units, is its effective FTAs with the rest of the World. It is extremely encouraging that the Government is moving simultaneously with many trade partners in this direction. We are confident that the industry will play a pro -active role in such negotiations and will give required elbow room to our negotiators, he stated.
Sakthivel also pointed out that many traditional sectors of exports in the country have not done well in the past with increasing competition from emerging countries.
We need to understand the factors responsible for such performance, engage with the industry and pursue with the Government to address them as these sectors are crucial for job creation, he said.
The growth in agriculture exports and sunrise sectors like electronics, machinery, pharma, networking products have been phenomenal and we need to further push it. Countries reservation on imports of edible products from China and India’s focus on organic and value-added exports will help our Agri exports benefiting both the farmers and exporters, he said.
The FIEO president also said that the Production Link Incentive (PLI) Scheme will help the sunrise sectors as investments have started flowing in adding, We will build a production base in the country in the next 2-3 years to augment our exports.
Commenting on MSMEs, he said that MSMEs are the backbone of the economy and provide the highest capital employment ratio. Their share in exports is on the rise.
We need to nurture them particularly as they have suffered a lot owing to the pandemic. While various Government support were most timely, the same should continue till we fully recover from the pandemic and bring the economy on track, he avowed.