Trichy: Entrepreneurs in Tamil Nadu, which accounts for 10% of Indian exports, must tap the export potential of African and South East Asian markets, according to experts who addressed a workshop to explain export opportunities here on Friday.
They pointed out that the International Trade Centre (ITC) had projected the export capacity of commodity trading to reach $247 billion in 2019 from $209 billion in 2018. The experts who comprised consultants and officials with the ministry of commerce and industry said that aspiring exporters would do well to study the markets thoroughly before foraying into export business.
Trichy and adjoining areas known for their dominance in the agriculture sector were identified as an appropriate region to export agriculture and dairy products, particularly value-added ones. While the entrepreneurs were already addressing local and national demands, many of them remained unaware of the export opportunities of these very products to other countries. The workshop was jointly organised by FIEO (Federation of Indian Export Organizations) and Tiditssia (Tiruchirappalli District Tiny & Small Scale Industries Association) at Ariyamangalam to drive home the complete procedures involved in exporting. “Rice varieties can be exported to African countries, particularly South Africa .
Entrepreneurs should research their field and sector of export for which we provide concessions and support to participate in international buyer and seller meets to understand the markets,” S Selvanayagi, deputy director, FIEO, Chennai said. Besides agriculture, participants were also urged to study the market needs in engineering and textile sectors as Trichy is known for its expertise in manufacturing and fabrication sectors.
FIEO said that up to 65% of the expenses incurred in participating in international buyer-seller meets would be borne by the export promoting organisation through market access initiative scheme. “With a significant number of the Indian diaspora in Singapore, Ponni rice variety has good demand there,” Mahalakshmi Arun Rajkumar, an export marketing consultant, told. Besides rice, Cavendish banana was also identified to have export potential. Credit facilities available for the aspiring entrepreneurs were explained by banking officials at the workshop. N Kanagasabapathy, president of Tiditssia, said that more export promotion workshops were in the pipeline to market Trichy after it was identified as one of the fast-growing cities in the world by an independent economy watchdog earlier this month.