Home / Knowledge / News / Market diversification is pivot of FTP : FIEO
Market diversification is pivot of FTP : FIEO
29
Aug '09
Mr. A Sakthivel - President of FIEO
Mr. A Sakthivel - President of FIEO
Appreciating the initiatives taken in the Foreign Trade Policy 2009-14, Mr A Sakthivel, President, Federation of Indian Export Organsiations (FIEO) said that new Policy rightly put emphasis on market diversification as our traditional exports have been hit badly due to their concentration in US and EU Regions.

The identification of 26 new markets under Focus Market Scheme, additional 13 under Market Linked Product Scheme, increase in the benefit of focus market scheme from 2% to 3% together with relaxation in Market Development Assistance and Market Access Initiative schemes and organizing “Made in India Show” in at least six countries will encourage exporters to enter into new and less explored countries with a view to achieve quantum jump in exports.

The introduction of zero duty capital goods scheme and grant of Status Holders incentive scheme to Status Holders for import of capital goods in sectors such as leather, textiles, handicrafts, engineering, plastics and basic chemicals will add to expansion and modernization of production base at a time when investment is drying up in export industry, added Mr Sakthivel.

The Foreign Trade Policy also provides fillip to services sector by doubling duty free entitlement under Served From India Scheme from 5% to 10% of foreign exchange earned. The sector specific initiatives undertaken for gems and jewellery sector, leather, marine, agriculture, pharma and handloom sector and increase in Focus Product Scheme from 1.25% to 2% will impart some competitiveness of these products which are worst hit due to global slowdown.

Mr Sakthivel welcomed the formation of a “Committee” to ensure availability of Dollar denominated credit which will particularly benefit the MSME exporters.

President, FIEO stated that trade and industry is looking forwarded to implementation of E-trade project in a time bound manner so as to provide substantial reduction in transaction costs which presently varies between 5 – 8% of the FOB value. Shri Sakthivel, however, demanding Market Linked Focus Product Scheme for garment sectors for exports to US and EU to be extended till 31.3.2011 @ 3%.





Federation of Indian Export Organizations

Must ReadView All

Courtesy: UPM Raflatac

Apparel/Garments | On 17th Jan 2017

New residue free textile label adhesive from UPM Raflatac

Producer of self adhesive label materials UPM Raflatac, has...

Courtesy: Authentic Brands Group

Apparel/Garments | On 17th Jan 2017

Teen retailer Aéropostale reopens 500 stores in US

Teen apparel retailer Aéropostale has reopened 500 stores in the US,...

Courtesy: Centric Software

Information Technology | On 17th Jan 2017

Centric releases version 6.0 of PLM solution

Centric Software, the leading PLM solution for fashion, retail,...

Interviews View All

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search