Madhya Pradesh has the potential to double its share in India’s exports in the next five years, according to Federation of Indian Export Organisations (FIEO) president Ganesh Kumar Gupta, who met state chief minister Kamal Nath recently.

FIEO offered its assistance to help the state raise its export share from about 1.6 per cent to over 3 per cent by 2024. 

FIEO representatives discussed how to attract foreign direct investment in pharmaceuticals, automotive components, machinery, textiles and processed agriculture products with the chief minister. 

To increase exports of soyabean and soyameal, non basmati rice, pharmaceuticals and technical textiles to China and Iran, Gupta urged Nath to lead a business delegation to both the nations, which have huge demand for such products, according to an FIEO press release. 

Gupta emphasised the need for identification of more products under geographic identification (GI) tag and marketing of such products through exclusive shops in the departure area of international airports, starting with Mumbai and Delhi. 

FIEO also requested inland freight subsidy for all products as the cost of carrying cargo from Madhya Pradesh to Jawaharlal Nehru Port Terminal in Mumbai works out to be more than overseas freight in many cases.

Published on : 08-04-2019

Source : Fibre 2 Fashion