From Our Special Correspondent
Daijiworld Media Network - Bengaluru
Bengaluru, Apr 5: New President of Federation of Indian Export Organisations (FIEO) Ganesh Kumar Gupta expects the country’s merchandise exports to be around USD 315 billion and services exports to about USD 185 billion in FY 2017-18.
The Federation expects to end the fiscal 2016-17 with an export of about USD 270-275 billion as against USD 262 billion in the previous year, with a growth of around 3-4% for the year in the merchandise sector whereas in services sector FIEO is expecting an export of USD 160 billion in 2016-17.
Gupta believes that India had already touched the USD 300 billion merchandise exports in the past. Also, we should look at more aggressively increasing our exports with previous six months especially the February exports showing an impressive double-digit growth of around 17.5 percent.
He also feels that a greater emphasis needs to be given to exports in the new GST regime with liquidity being the key challenge for the exporters. In the upcoming mid-term review of the Foreign Trade Policy, there is a need relook at further diversify the product basket focusing more on high-tech products where India’s share in global trade is very low, to further compete in the international market.
Under Gupta’s leadership, FIEO is also planning for market promotion strategies so that India’s exporters can get a further boost in traditional and non-traditional markets for India’s exports.
Gupta, chairman of Akaash Textiles Pvt Ltd and Vijay Silk House Group, Mumbai took over as the new president of the Federation of Indian Export Organisations (FIEO) with effect from April 1 this year for two years.
He has worked for the overall growth, development and exports of the Textile Industry for over four decades.
Earlier, he held the post of president, vice president, regional chairman (western region), FIEO; chairman, Textile Committee; chairman, SRTEPC and Silk Export Promotion Council; director, ECGC and member, National Productivity Council. A great votary of aggressive marketing for exports, he has also aggressively taken up many issues of the exports sector and brought it to a logical conclusion.
The Federation during its 240th Managing Committee Meeting at Chennai on Saturday, April 1 also nominated “Padma Shree” M Rafeeque Ahmed, chairman, Farida Group, Chennai as its new vice president.