Opportunities galore in untapped markets

Staff Reporter
Are we still content with the old markets we trade with? The volatile rupee being pitted against the dollar, do we look towards the Government to provide us relief? These are the questions that we, as the export community, need to ask ourselves.

At a time when the traditional markets including the US, have shown signs of slowdown, I believe that the exim community needs to make corrections in its marketing strategies.

I strongly believe that under these circumstances we need to focus on the regional markets. The regional markets have a lot to offer, but sadly the recent figures reveal that only a handful of exporters are currently doing business with these highly potential markets.

The government too has understood this fact and is actively pursuing the interests of the exporters in global trade by negotiating increased market access and lower tariffs under bilateral agreements with suitable partner countries.

Without doubt, these agreements have, and will continue, to open up new avenues for the industry. We need to take advantage of enhanced market access and exploit the untapped trade potential of our products in these markets.

India has the intrinsic strengths in terms of low-cost skilled labour, availability of raw materials, diverse design base vertical and horizontal integrated textile value chain. India needs to capitalise on these strengths and leverage its comparative advantages to exploit emerging opportunities in the export market.