FIEO Collaborates with UP Govt to Promote Exports

[FIEO Press Release/27.09.2024]

The Federation of Indian Export Organisations (FIEO) successfully organized a knowledge session titled “Navigating the Global Marketplace: Potential, Challenges and Strategies for Indian Exporters” on the third day of the Uttar Pradesh International Trade Show (UPITS). The session, held in collaboration with the Ministry of Micro, Small & Medium Enterprises, UPSIC, RAMP, and the Uttar Pradesh Government, provided a comprehensive platform for Indian exporters to gain valuable insights and strategies to expand their reach in the global market.

With over 350+ buyers from 70+ countries participating in the UPITS, FIEO aims to generate significant business and export opportunities for Indian exhibitors. The event is expected to foster joint ventures, FDI, and greenfield and brownfield investments.

During the knowledge session, esteemed speakers shared their expertise on various aspects of international trade. Nand Gopal Gupta “Nandi”, Hon’ble Minister, Industrial Development, Export Promotion, NRI and Investment Promotion, Govt of UP in his keynote address emphasized the state's diverse industrial landscape and its strategic location as key advantages for exports. He informed that to attracted foreign investment and generate employment, state government has been running more than 25 sectoral policies. He also mentioned that the Government of UP is working under the dynamic leadership of Adityanath Yogi, Hon’ble Chief Minister of UP in moving towards becoming 1 trillion dollar economy by 2027 and UPITS is expected to play a pivotal role in achieving this.

Rakesh Sachan, Hon’ble Minister of Micro, Small & Medium Enterprises, Khadi & Village Industries, Silk, Handloom & Textiles, Govt of UP emphasized the pivotal role of MSMEs in India's economy and highlighted the government's unwavering commitment to supporting their growth. He underscored the importance of innovation, technology, and sustainable practices for MSMEs to thrive in the global market. He said that the 2nd edition of UPITS will facilitate not only domestic manufactures but also exporters in reaching to global markets.

Alok Kumar, Principal Secretary, IAS, Government of Uttar Pradesh, discussed the state's remarkable progress in economic growth, exports, and infrastructure development. He highlighted the Export Promotion Policy 2020-25 as a key driver for enhancing Uttar Pradesh's export competitiveness.

Dr. Ajay Sahai, DG & CEO, FIEO, highlighted the significant contribution of Uttar Pradesh exports to India's GDP and overall exports. He emphasized the potential of the state to further increase its share in the global market through focused efforts and strategic initiatives. He noted that Uttar Pradesh's exports currently contribute to 10% of India's overall GDP and 5% of overall exports. With continued efforts, the state could aim to reach 10% of India's total exports by 2030. Dr. Sahai also highlighted Uttar Pradesh's strength in consumer electronics, which comprises 40% of India's mobile manufacturing and 55% of India's mobile components.

Vivek Agarwal, Partner and Lead, KPMG in his address stated that there is requirement for a war room for export promotion to achieve progress in exports at a war front level. He also suggested 4 Points Strategy in achieving the optimal level of exports from the state.

Other speakers at the event included Pranjal Yadav, Secretary-MSME & Export Promotion, Govt of UP; Amit Kumar, Head- North Region, ECGC Ltd; and Ajay Srivastava, Founder, Global Trade Research Initiative and briefed about various opportunities in international business. Raj Kamal Yadav Managing Director, UPSIC in his Vote of Thanks expressed his gratitude to all the speakers for their presence and FIEO for sharing the valuable insights for promoting exports from the state.

The knowledge session provided a valuable platform for Indian exporters to understand the challenges and opportunities in the global market and develop effective strategies to navigate them. By leveraging the insights gained from this event, Indian exporters can enhance their competitiveness, expand their reach in international markets, and contribute to India's economic growth.