Welcome Address by Mr Israr Ahmed, Regional Chairman, FIEO Southern Region
Mr D P Nagendra Kumar, IRS, Principal Chief Commissioner of Central Tax,
Mr Gaurav Gupta, IAS, Principal Secretary (Commerce & Industry), Government of Kamataka
Mr A K Jyotishi, IRS, Chief Commissioner of Customs, Bangalore Zone
Mr Panhasarathy Mukherjee, Managing Director & CEO, Lakshmi Vilas Bank Ltd Mr J V Patil, ITS, Additional Director General of Foreign Trade, Bangalore
Mr Srikar M S, IAS, Commissioner of Commercial Taxes, Government of Kamataka Mr. Peeush Jain, HeadRetail Banking, Lakshmi Vilas Bank Ltd
Mr. Vikas Bhanpurkar Head -Personal Banking, Business Banking & Wealth Management, Lakshmi Vilas Bank Ltd
Other dignitaries off the dais, Ladies and Gentlemen, It is indeed a great honour for me to welcome you all on behalf of FIEO.
We have the privilege of having with us today very senior Central and State Govt.
omcials who are responsible and taking care of the interest of exporting community.
India’s exports during the month of July 2019 were USD26.33billion, exhibiting a positive growth of 2.25per cent as compared to USD25.75billion in July 2018. The trends are encouraging especially in the context of negative growth in most of the competing countries including China. However, while analysing data, it is noted that 17 out of 30 major product groups were only in positive territory during July, 2019 which included few plantation and agri sector, marine products, iron ore, ceramic products & glassware, drugs & pharma, organic & inorganic chemicals, electronic goods, man-made yarn/fabs/made-ups, Readymade Garments, etc. Major products which contribute to the country's exports basket were in the negative territory such as the petmleum, plastic & linoleum, cotton yam/fabs/made-ups, handloom products, engineering goods, gems & jewellery, leather & leather products besides some of the agri sector.
In the emerging global trade scenario, where uncertainty created by the trade war between China and US, we are experiencing that most of our major markets are facing slow down in their economy. India cannot be insulated form this and hence we are facing contraction in demand form all our export destinations. However there are emerging opportunities coming form US and China they are looking for alternative sources. Recently Ministry of Commerce come up with a list of products which is 11”ng high potentials for India in this context and F IEO is geared up for providing relevant market information if any of the exporters desired to explore these opportunities.
The US and China are significantly raising import duties on each other’s' products. Due to which China is also willing more to provide better market access to India on a wide range of agriculture and processed food products.. All investments in China with prime focus on the US market may seek relocation and India would deiinitely be the option. There is a need to move aggnessively to woo such investors before they are allured by others. To effectively harness the emerging opportunities, India needs a carefully craft strategy and its meticulous implementation at the grass
roots level.
Export sector is still facing the problem of liquidity besides various other challenges including, volatility in commodities/currencics, rapid rise in trade restrictive measures and constraints on the domestic front.
Kamataka is having vast agricultural resources, rich natural and cultural heritage, skilled human resources. Karnataka has vibrant automobile, agto, aerospace, textile & garment, biotech & heavy engineering industries. The state has sector-specific SEZs for key industries such as IT, nanotechnology, biotechnology, engineering, food processing and aerospace. During 2018-19, the total exports of the state crossed USS 40.12 billion and contributed about 47 per cent in the state’s economy which is
highest amongst all southern states. Sectors such as biotechnology, computer software and electronics are major contributors in the overall exports from the state
I am extremely happy to Karnatka Govt. is giving lot of emphasis on export promotion and it is visible by presence of senior officials form Industries and Commercial Tax department in this program.
I would also like to highlight the support exporting community getting form Customs Central GST and State GST department and thank them for taking proactive steps for facilitating the trade. In fact several initiatives taken by the State GST department later been implemented all over India and E-way bill is one example.
FIEO is closely working with the Govt. to support and promote export form the Sate. In order to give special drive on increase exports from the state, we have identified few Industries as thrust sectors and guiding them on to give them appropriate training on Entrepreneurship development and skill upgradation, scope and Opportunities on Intemational trade and about free trade and preferencial trade agreements etc. The identities industries are agro, and processed food, aerospace & defence, textile & garments, biotech, Handicrafts, bulk drugs,etc.
I am sure that the state and central Govt. initiatives and proactiveness will go a long way in increasing contribution of Kamataka in national export kitty and help in economic growth, employment generation and reach to 5 Trillion Dollar economy as
envisaged by our Hon’ble PM.
Many of the industrial cluster in the state is land locked and need special attention and
efficient and cost effective logistic is the key to growth. There is a need to integrate
the state in global value chain by providing facilities to faster movement, easy on
doing business, lesser logistic costs etc. so that Kamatka can be integrate with South
East Asia Global value chain investment growth which is going to be critical growth for the region in coming years.
FIEO would like to identify around 10 champion services and promote them so as to
make karnataka to become global hub and generate investment and huge white colour
employment which is the aspiration of emerging low income group.
Unlocking India’s export potential in the coming years will be key, and the big push will have to come from emerging sectors in Kamataka. Innovative finance solutions , Marketing approach and product innovation and diversification along with support form all stake holder would be the key which will take export form Karnataka to the next level. I am sure that today’s session will help in understand initiatives taken by various departments and also to understand the issues faced by the exporters in the State so that FIEO can take lead in proposing various strategies for promotion.
With these words, I wish this programme at great success.
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