International export offices must be set up to facilitate buyers and MSMEs meet: CII

New Delhi, Feb 14 (KNN) For export promotion, a specific internationally recognised marketing agency should be established having offices in key markets which would help MSMEs to connect with buyers, is one of the recommendations made by Confederation of Indian Industry (CII) in its latest report. 

The report is titled as ‘Achieving USD 1 trillion in merchandise exports: A Roadmap', which was released on Sunday. 

It has suggested that a multidimensional approach needs to be adopted by India in order to achieve the merchandise exports of USD 1 trillion by 2030.

Extending RoDTEP to all exports, finalising FTAs with large markets, finding solutions for the issues in the domestic manufacturing segment are some of the additional recommendations.

Highlighting the various policy needed to achieve the target, CII President T V Narendran said, “Presently there are more than 20 trade deals under negotiation which must be finalised soon.”

Further CCI has identified 14 products such as vehicles, textiles, electrical machinery and equipment, machinery, apparel, chemical products, plastics, pharmaceuticals, etc., to gain global share as they play larger role in increase of exports.

The report also pressed on the urgency to resolve non-tariff barriers in existing trade agreements.

It also highlights the need for investment agreements to be well linked to trade arrangements. (KNN Bureau)