FIEO President targets USD 500 billion exports this fiscal year
Apr 04, 2017: Taking charge as the new President of Federation of Indian Export Organizations (FIEO) Ganesh Kumar Gupta, Chairman, Aakash Textiles and Vijay Silk House Group, Mumbai expects the merchandise exports to be around USD 315 billion and services exports to about USD 185 billion in FY 2017-18.
The Federation expects to end the fiscal 2016-17 with an export of about USD 270-275 billion as against USD 262 billion in the previous year, with a growth of around 3-4 percent for the year in the merchandise sector whereas in services sector FIEO is expecting an export of USD 160 billion in 2016-17.
The new FIEO President is of the view that as we had already touched the USD 300 billion merchandise exports in the past also, we should look at more aggressively increasing our exports with previous six months specially the February exports showing an impressive double digit growth of around 17.5 percent.
Gupta also feels that a greater emphasis needs to be given to exports in the new GST regime with liquidity being the key challenge for the exporters. He also said that in the upcoming mid-term review of the Foreign Trade Policy, there is a need to relook at further diversify the product basket focusing more on high-tech products where India’s share in global trade is very low, to further compete in the international market, stated a release.
Gupta will serve the term of office for two years. Earlier he held the post of President, Vice President, Regional Chairman (WR) of FIEO; Chairman, Textile Committee; Chairman, SRTEPC and Silk Export Promotion Council; Director, ECGC and Member, National Productivity Council.
The Federation during its 240th Managing Committee Meeting at Chennai on April 1, 2017 also nominated M Rafeeque Ahmed of Farida Group as the new Vice President. Ahmed has held several key positions including President and Regional Chairman (SR) of FIEO; President, All Indian Skin and Hide Tanners and Merchants Association; Chairman, Tamil Nadu State Council of FICCI; Chairman, CLE and Chairman, FDDI, Ministry of Commerce & Industry, Government of India.
