Odisha sets a target to reach Rs.1 lakh cr exports by 2025
The Dollar Business Bureau The state government of Odisha, which is working on a new state export policy, has set a target of reaching Rs.1 lakh crore of exports by the year 2025. “Odisha has set a target of achieving an export turnover of Rs.1 lakh crore by 2025,” said L N Gupta, Additional Chief Secretary, Micro, Small and Medium Enterprises (MSME) Department on Thursday. The Government is working on a number of enabling factors that would be included into the new export policy in order to give a major boost to the State’s export turnover, he added. “A draft has been prepared for Odisha Export Policy, 2017, which lays emphasis on promoting the exports from traditional as well as non-traditional sectors,” Gupta said while addressing a seminar on export finance in Bhubaneswar. The Odisha Export Policy ...
IIFT sets up incubation cell for start-ups
The Dollar Business Bureau The government has set up an incubation cell at the prestigious Indian Institute of Foreign Trade (IIFT) to extend support to export-oriented start-ups. MSME Minister Kalraj Mishra said during the inauguration, that the incubation cell would provide all the technical guidance and expert advice at one point to young entrepreneurs."The cell has been designed to provide export start-ups with necessary hand holding support towards expanding their existing domestic business to foreign markets," Mishra said. The initiative, KITTES (Knowledge for Innovation in Trade and Technology for Entrepreneurial Start-ups), has been aimed towards startups in the international business domain. The incubation cell will be run by the Centre of MSME Studies at IIFT (Delhi). KITTES is envisaged to ...
RBI directs banks for tight monitoring of export finance
The Dollar Business Bureau A probe initiated by the Enforcement Directorate on a public sector Bank prompted the Reserve Bank of India issue a directive asking all the banks to tighten and monitor their export finance. A notable hike in the number and volume of advances received for exports remaining outstanding beyond the stipulated deadline on account of non-performance of such exports has forced the RBI to issue such a notification, said sources. Usually, the concerned exporters are reminded by the banks to complete their export commitments within the time limits. The RBI has asked the banks to forward such cases where the exporters fail to meet the export requirements to its regional offices within 21 days from the ...
FIEO Knowledge Forum: Service providers key to enhance exports
Neha Dewan | @TheDollarBiz Steven Philip Warner, Editor-in-Chief, The Dollar Business, speaking at the FIEO Knowledge Forum. Other Panelists – Vikas Jain, President, Gurgaon Chamber of Commerce & Industry (Second from Left); Lakshmi N. Sahu, Export Credit Guarantee Corporation of India (Second from Right); and Sanchit Khanna, eBay India (Extreme right) The Dollar Business participated in the Knowledge Forum on “Enhancing Exports” conducted by the Federation of Indian Exporters Organisation (FIEO) on September 5, 2014 in Gurgaon to highlight the role of service providers in minimising transaction cost and making exports competitive in the international business environment. Vikas Jain, President of Gurgaon Chamber of Commerce and Industry (GCCI) started the session, outlining the importance of major export categories such as engineering ...
India trade is growing, but still at a nascent stage
@TheDollarBiz (L-R) Nihar Lakhia, Joint Director, FIEO (WR), K. Subramanian, Ex-banker Experts say that while India’s trade community has grown in size, much remains to be done to get Indian exporters on par with global competitors. On the eve of a seminar by the Federation of Indian Export Organisations (FIEO) in Mumbai this week on “Exports and Export Finance”, Nihar Lakhia, Joint Director of FIEO (Western Region), told The Dollar Business, “The import export community in India has become too big now and that’s why FIEO organizes such programs to keep people up to date and aware of the dynamics of global trade.” However, more needs to be done to help India’s exports become competitive. On asking what are the ...
