MAKING SMEs EXPORT COMPETITIVE MUST: EXPERTS, International Trade, Marketing Strategies Discuss

By 1 2 1 News Reporter

Chandigarh 25^th October: --- Indicating that SMEs are the backbone of Indian economy, Yashvir Mahajan, MD, Punjab State Industries and Export Corporation Limited, PSIEC, said, that SMEs being the largest contributor to exports, all out efforts need to be made to make the sector export competitive. Yashvir Mahajan was speaking during the seminar on "International Trade: Enhancing Export Competitiveness" organised by the PHD Chamber of Commerce and Industry in association with the Federation of Indian Export Organisations (FIEO) and PSIEC, here today. Yashvir Mahajan said that Punjab is setting up SPVs where all the units in the area shall be members on a mandatory basis, which shall get funds directly through government order from MC collections, for the maintenance and development." These SPVs shall be notified soon,

Indicating the need to leverage the SME sector by a complete package for capacity building of SMEs, Dalip Sharma, Regional Director, PHD Chamber said, that there is an urgent need to provide the SMEs with a package encompassing credit, marketing facilities, labour laws, infrastructure, technology, skill development, tax laws, exit policy, and above all, groups of SMEs working as clusters to build a symbiotic relationship with one another to leverage opportunities in exports. The SME sector accounting for about 45% of the country's manufacturing output, alone contributes around 40% of the total export of the country. Making more and more MSME units competitive to participate in the external market is the need of the hour, emphasised Sharma.

S C Ralhan, Chairman, Northern Region, FIEO informed that the cumulative value of exports for the period April-September, 2013-14 stood at USD 152.10 billion as against USD 144.67 billion registering a growth of 5.14 per cent. The trade deficit for April-September, 2013-24 estimated at USD 80.12 billion was lower than the deficit of USD 91.82 billion during April- September, 2013, added Ralhan.

The day-long seminar on 'International Trade: Enhancing Export Competitiveness" provided insights into latest developments in international trade, marketing strategies required, mitigation of risks involved in exports and export finance. Faculties drawn from industries and institutions involved in international trade spoke on facets of international trade, utilisation of available opportunities for developing export business, services of FIEO, Market Development Assistance, export finance, identification of buyers, foreign trade policy and incentive schemes, and credit risk management.