India Needs to Create An Export Culture

World Trade Centre Mumbai organised a panel discussion on ‘How to Revive Stagnant Exports?’ along with All India Association of Industries in association with Business Standard at World Trade Centre, Mumbai on July 6, 2018. Dr. Rupa Rege Nitsure, Group Chief Economist, L&T Finance Holdings said, “We need to create an export culture, address fundamental issues like shortages of transport network, logistics, energy, bring down transportation costs, improve ease of doing business and constantly review our FTAs”.

Mr. Mangesh Soman, Joint President (Corporate Economics Cell), Aditya Birla Group, remarked, “Nearly two-third of the global trade is through participation in Global Value Chains which requires adherence to strict quality norms, timely supplies and continued productivity growth. It is also necessary to keep moving up the value chain”.

Mr. Soman said “Long-term policy actions include scale-up through labour reforms, easier land acquisition at coastal economic zones, encourage skill development through partnerships between government’s export promotion agencies and industry bodies and technology upgradation schemes for more sectors.”

Mr. Keyur Parekh, Vice President, Welspun Global Brands Limited, said, “The government should encourage setting up of more integrated textile units to increase productivity and efficiency, ensure a level-playing field with country peers competing in EU/UK markets, sign free trade pacts with major markets like the EU, US, Canada and Britain”.

Mr. Prahalathan Iyer, Chief General Manager, Research & Analysis Group, EXIM Bank opined, “It is estimated that BASEL III regulations would make the trade finance costlier to the tune of 15% - 37%, which in turn could take down the trade finance capacity by as much as 6%”.

Mr. Krishanlal Dhingra, Regional Chairman (WR), EEPC India said, “The government has a scheme of reimbursing 50% of the expenses incurred by businesses fighting anti-dumping cases, with a maximum of Rs. 2 crores and we are recommending 75 per cent raise instead. We need a shipping regulator like telecom and insurance regulators to remove malpractices in the industry”.

Mr. Vijay Kalantri, Vice Chairman, MVIRDC World Trade Centre Mumbai remarked “We should try to promote import substitution to strengthen MSMEs’ productivity, innovation and competitiveness. It is important to improve infrastructure, boost manufacturing sector and reduce transaction costs”.

Top Photo

From (L-R): Mr. Rajesh Bhayani, Mr. Prahalathan Iyer, Mr. Keyur Parekh, Mr. Krishanlal Dhingra, Mr. Vijay Kalantri, Dr. Rupa Rege Nitsure, Mr. Mangesh Soman, and Ms. Rupa Naik.

Below Photo

Mr. Vijay Kalantri (right) felicitating Mr. Krishanlal Dhingra (left).