Solapur MSMEs Must Reap Benefits in Intl. Markets

World Trade Day (WTD) Maharashtra was organised in Solapur by MVIRDC World Trade Center (WTC) Mumbai through an interactive session ‘Skilling MSMEs for Global Opportunities’ on July 1, 2019. WTD Solapur was supported by Maharashtra Industry, Trade & Investment Facilitation Cell (MAITRI).

The interactive session is part of the series of knowledge programmes conducted by MVIRDC World Trade Center Mumbai across Maharashtra to observe World Trade Day. World Trade Day is a unique initiative of World Trade Centers across the world to create awareness on international trade and its impact on economic development and regional growth. The objective of World Trade Day is to encourage small and medium enterprises to explore opportunities in capacity building and seek opportunities in international trade and exports.

Mr. Arvind Khedker, a senior faculty WTC Mumbai Center Mumbai Institute conducted the workshop. He said that balance of trade (BOT), which is an indication of forex inflow and outflow is a major issue of the economy. “Our Balance of Payment (BOP) may be overtly comfortable (because of strong inflow of foreign capital), but BOT is an issue as our imports far exceeds exports. India's foreign trade policy aims at improving BOT at micro level of a firm so when aggregated, it may help towards achieving positive BOT.”

Mr. Khedker further explained, “India needs to promote exports aggressively in the background of trade competition and political issues relating to tariff and non tariff barriers. The training we impart is to encourage industries to export good quality products at competitive prices by enhancing their competence with thorough knowledge of all aspects of international trade.”

Mr. A. O. Kuruvila, Advisor – Trade and Education, MVIRDC WTC Mumbai explained the underlining objective of organizing such sessions. He also mentioned that similar sessions are planned in other key cities such as Amaravati, Jalgaon, Palghar and Ratnagiri.

In Photo:

Mr. Arvind Khedker, a senior faculty WTC Mumbai Center Mumbai Institute conducting the interactive session.