[vc_row][vc_column][vc_column_text]Mr Ganesh Kumar Gupta, the new President of the Federation of Indian Export Organisations (FIEO), expects merchandise exports to be around $315 billion and services exports at about $185 billion in 2017-18, totalling $500 billion. The Federation expects fiscal 2016-17 to end with an export figure of about $270-275 billion as against $262 billion in the previous year, with a growth of around 3-4 per cent in the merchandise sector. In the services sector, FIEO is expecting exports of $160 billion for 2016-17.
Mr Gupta is of the view that as the $300 billion merchandise export figure has been attained in the past, the approach should be to aggressively increase exports. He highlights that outbound shipments have grown impressively in the past 6 months, topped by a double-digit spike in February.
Mr Gupta also feels that greater emphasis should be given to exports in the new GST regime, with liquidity being the key challenge for exporters. Besides, in the upcoming mid-term review of the Foreign Trade Policy, there is a need to relook at further diversifying the product basket, focusing more on high-tech products where India’s share in global trade is very low, he observed.
Mr G. K. Gupta, Chairman, Akaash Textiles Pvt. Ltd and Vijay Silk House Group, Mumbai took charge as President of FIEO with effect from April 1, 2017 for a period of two years. He has worked for the overall growth, development and exports of the textile industry for over 4 decades. Earlier, Mr Gupta was President and Vice-President, Regional Chairman (WR), FIEO; Chairman, Textile Committee; Chairman, SRTEPC and Silk Export Promotion Council; Director, ECGC, and Member, National Productivity Council. A great votary of aggressive marketing for exports, he has aggressively taken up many issues pertaining to the sector and brought them to their logical conclusion.[/vc_column_text][/vc_column][/vc_row]
