According to exporters, addressing a serious shortage of containers, managing high freight and timely refunding pending membership fees will bring national exports to US $ 400 billion by the end of this year. It is important.
Exports from April to July 2021 increased 73.86 percent to $ 130.56 billion, up from $ 751 billion in the year-ago quarter.
Former FIEO President SK Saraf suggested to exporters to actively market by considering new market options. Investing in technology to improve quality and productivity, and doubling existing capacity.
From the government side, Saraf has proposed amending the land law to allow exporters to purchase land within a month and obtain all permits. Enables bank lending at international prices. And pay off the pending membership fees within a month by all government departments.
Current FIEO President A Sakthivel also recommended a center to increase cash flow to exporters. We provide freight subsidies to adjust for unusually high freight rates. He also urged the government to lift the pending claims of exporters under various schemes such as MEIS (Commodity Export Scheme from India).
Mohit Singla, founder and chairman of the Indian Trade Promotion Council (TPCI), said that focused product marketing assistance is needed to reach the US $ 400 billion target. National authorities to meet compliance and standards and streamline bank and payment mechanisms for exporters.
In addition, President Vikramjit S Sahney of the International Chamber of Commerce (ICC Paris-India) proposed the establishment of an institutional mechanism for global market intelligence. The enhanced role of the Indian mission. And a large-scale campaign in major markets for branding traditional Indian exports.
“We also need to ensure that negotiations under various FTAs will lead to increased market access for the Indian industry in our partner countries. India should also focus more on attracting export-oriented FDI. “He said.
Khalid Khan, FIEO Vice President (Western Region), said exporters now need to explore major markets as both Latin America and Africa have huge export potential. I did.
“Moreover, they have to start exporting high value commodities. There is great potential in developing countries for such commodities, and now is the time for us to promote it.” Said Kahn.
Arvind Goenka, chairman of India’s Plastics Export Promotion Council (Plexconcil), said sea freight rates have risen and exports have become less competitive with local manufacturers in each country.
“If the government regulates port and inland shipping charges to ease the burden of increased sea freight, Indian exporters can pass on their profits at export prices,” he added.
He also called on exporters to invest in research and development on a regular basis so that they could produce the desired quality at the lowest cost.