The All India Exporters' Chamber celebrated its Platinum Jubilee today at Hotel Taj Mahal in the august presence of its past Presidents and the ...
The All India Exporters’ Chamber celebrated its Platinum Jubilee today at Hotel Taj Mahal in the august presence of its past Presidents and the leading luminaries of the exports industry. The event was presided over by the President of the Chamber, Ms. Preeti M. Sheth and the Chief Guest at the function was Mr R K Dalmia, Chairman, Cotton Textiles Export Promotion Council (Texprocil). The Guest of Honour was Mr Michael Siebert, Consul General of the German Consulate in Mumbai.
After a brief introduction of the Chamber, the President of the Chamber, Ms Preeti M. Sheth in her inaugural address welcomed everyone to the momentous occasion of completion of 75 glorious years of the Chamber. She elaborated on the genesis of the organisation which came into being through an amalgamation of the Africa and Overseas Exporters’ Chamber, established in 1939 and the All India Exporters’ Association.
Mrs. Preeti M. Sheth further stated that the five year trade policy also provided a necessary framework for increasing exports of goods and services as well as job creation and increasing value addition in the country. Aim was to reach $900 billion of merchandise and services exports and the total two-way trade was expected to double from the present $1 trillion to $2 trillion annually in the next five years. This was a gigantic task considering that global economy was still struggling to gain momentum.
After the special address by Mr. Michael Siebert, the Chief Guest for the day Mr R K Dalmia, Chairman of Texprocil then spoke on the ties between Texprocil and the Chamber which went back many decades in time and was very strong. He said that the Chamber just like Texprocil served as an important link between the overseas buyers and the Indian exporters.
Mr. R K Dalmia stated that textiles export trends do not look encouraging. Decrease in export has given rise to trade deficits. The solution to tackle higher production of textiles in India can be only increase in exports. But foreign demand is not picking up. Besides, our exports have been affected by slowdown in China as we are heavily dependent on China for exports of cotton and cotton yarn.
Moreover, the cost of export finance in India, which is 10%, as compared to cost of export finance of 3 to 4% of our competitors like Vietnam, Bangladesh, Pakistan etc. is also having an impact on our competitiveness.
He elaborated on the representations that have been made to the Government like the interest rate subvention, re- calibration of the product- market matrix to include exports to emerging markets so that linkages can be strengthened with the value chains in these markets.
Regarding India’s competitiveness he said that efforts must be accelerated to enhance the competitiveness of India’s exports and the government should also expedite conclusion of FTAs with EU, Australia and Canada.
He stressed that dialogues need to be initiated with China and Turkey for reduction of duties on Indian textiles products and we need to take recourse to the Review Mechanism available under all the FTAs/ CEPAs signed by India in order to create additional market access.
He further added that recent measures of the government like the increase in allocation of funds from Rs 18000 Crs to Rs 21000 Crs under export incentives scheme; Reduction in Repo – Rate; Setting up of Textile Parks and the Relaxation of Coastal Shipping have given a sense of “feel good” to all at a time when the overall global outlook is still in the “recovery mode”.
Photo Caption: Seen from Left to Right, Mr. R.K. Dalmia –Chairman of TEXPROCIL, Ms. Preeti M. Sheth –President of AIEC, Mr. Michael Siebert, Consul General of the German Consulate in Mumbai and Mr. Ashwin Savani –Vice President of AIEC.