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Exporters should look east to maximise gains
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Bikky Khosla | 20 Apr, 2010
There seems no end to the woes of exporters to Europe. Months of slowdown, then when the situation started to look up, the rupee appreciated eating into the profits of the exporters. While the exporters were still in the midst of re-evaluating their strategies, exports to key European markets have now been affected by flight disruptions over the past few days as planes remain grounded following a volcanic eruption in Iceland.
In the last couple of days I have met a few number of exporters who have been affected for these reasons. However, I felt that the exporters who solely depended on European markets were the most affected, while exporters who had diverse countries in their trade basket were not affected much in their profit bookings.
I think the situation calls for looking at all geographical directions, rather than just looking at the West, from which we are at present not profiting much. As such, turning our attention towards the Eastern nations can be a good idea. It's a fact agreed by experts that the region today provides immense opportunity for Indian manufacturers and service providers to expand their global footprint.
For instance, Indian seafood exports to Europe and US have declined in volume and value over last year and interestingly, for the first time, seafood exports from India to the East have surpassed those to the West. A fair indication of the potential the region holds for Indian exporters.
Even Union textiles minister Dayanidhi Maran had acknowledged that India's 'Look East Policy' was paying good dividends, especially in the textile sector.
The slow revival in the US and Europe is in stark contrast to the rapid recovery witnessed in the eastern economies which unfolds new vistas for India's manufacturers and exporters as attractive propositions for exports.
I believe the Indian government's 'Look East' policy has certainly helped as far as economic gains are concerned. The Asian region is now our largest trade partner and our economic exchanges with Southeast Asia as well as the more mature economies of Northeast Asia like China, Japan, Korea, Hong Kong have been facilitated by this policy. I have no doubt that had these nations not figured prominently on our trade profile, we would have been much more severely affected by the global economic downturn.
I think it's time for us to look at our eastern partners with more vigour and take advantage of the opportunities that lie before us.
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Look East Policy
Ajay Advani | Wed Apr 21 04:37:35 2010
(Continued from above)
Inspite all the above points favouring the inflow of Indian goods into these markets, I have seen little or no representations of either the Indian Government or any Indian Chamber of Commerce since the 7 months i have been in this part of the world, whereas the delegations from China, Malaysia, Korea, Singapore and Thailand are here almost every week.
In a way, I would like to partially blame the Indian Government for it. At first they alienated our country to these nations and when they do have realised the potential they are not doing enough to implement their policy and educate the business community about it. While what we write remains in these closed circles of B2B website, the ministers have a much larger audience by way of the print and electronic media.
To sum up, as a true Indian, I would like to inform that there is a great demand for Indian goods especially Foodstuff, Pharmaceuticals, Garments, Machinery / Spare Parts and Packaging material and this is the time for Indian Enterprises to export to the ASEAN or even think of setup shop here. I will be pleased to help with whatever Ican. I can be reached at ajay.a.advani@gmail.com/
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Re: Look East Policy
Pallavi Ashim Parmar | Thu Apr 22 12:08:42 2010
It is indeed true. With a local captive demand and consumption within India itself, I feel there is an opportunity existing to tap on and introduce goods of Indian origin to the ASEAN and pacific market. And you know who the big competitors are. Interested exporters courageous enough looking at ASEAN and Asia Pacific market for representatives, distributors, form postponement partners, small manufacturing units, be it chemicals, pharmaceuticals, raw materials, food, flavors, fragrances, manufacturing and not limited to please give a shout !
Pallavi/Ashim Parmar
ashim@singnet.com.sg
Singapore
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Look East Policy
Ajay Advani | Wed Apr 21 04:23:05 2010
Dear Mr. Khosla,
Indeed and in fact it should be 'LOOK EAST' to think about.
I am an Indian and the CEO of a Company manufacturing Alcoholic Beverages in Myanmar (Burma). I am staying and working here since September 2009. Had I not accepted this offer and come to Myanmar, I would not have as much appreciated yours and the Indian Governments 'LOOK EAST' Policy.
I would like to inform you that there is so much demand of Indian Origin Goods be it Machinery, Spare Parts, Garments, Food Stuff, Packaging Material and Technology. The reasons for the demand for particularly Indian goods are as follows:
1) Myanmar and the other less developed nations of the ASEAN like Vietnam, Cambodia and Laos are getting upset with Chinese Origin Goods which have flooded their markets, because of the mediocre quality, limited durability, poor ROI and the less appealing 'Made in China'stamp.
2) India and Indian Goods are much so popular ever since times unknown because we Indians have been and ruled in the Myanmar markets uptil the 1980s when China took over and also because of the ever popular 'Bollywood' in which the people of Myanmar and other neighbouring nations see so much of India.
3) India like China have an FTA with the ASEAN.
4) All the countries mentioned above are fast emerging economies with lots of disposable incomes because of good agricultural produce, excellent tourism growth, an ever increasing EXPERT EXPAT population inflow and very limited or no taxes. (Continued...)
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Re: Look East Policy
Sumit Lodha | Thu Apr 22 05:35:18 2010
I am new to this forum. I am a CEO of a small SME doing business in aluminium coating like anodizing and powder coating. I read the articles of LOOK East poliicy and it seemed appealing to me. I need various guideline as how can i spread my presence in Eastern countries? How can i contact the dealers? Inshort i want microscopic help regarding this. If you can please email me nmcoating@gmail.com. 0091-9923316900
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Re: Re: Look East Policy
Ajay Advani | Thu Apr 22 07:27:45 2010
Dear Mr. Lodha,
I am the CEO of a Liquor manufacturing company in Myanmar and as a part of my job have travelled to most of the ASEAN countries for procurement for my raw material since there is limited manufacturing in Myanmar. What I feel about your industry is that it might not have scope of export, Your business is a low investment which requires little expertise, hence it has a base in even very small countries like Laos, Vietnam and Brunei. Well it could be interesting if you could setup your business here.
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