Visakhapatnam: Round table conference on international business held

Visakhapatnam: Joint Directorate General of Foreign Trade BN Ramesh mentioned that India's exports have reached $400 billion in the current financial year 2021-2022 and in this more than half constitute the exports related to industrial and technological products.

Speaking at a round table on international business opportunities here on Tuesday organised by GITAM School of Business, he said GOI was carefully planning its agreements so that it balances its bilateral relations with other countries at the same time balance the 'Make in India' campaign, he said, adding that the 'District Export Hubs' initiative will be forming a significant component of the new Foreign Trade Policy. The objective is to convert each district of the country into an export hub by identifying products with export potential in the district. Consequently, states can actively develop specific export strategies based on the competence and strengths specific to its region, Ramesh said.

Dean and director of the institution Amit Bhadra highlighted the huge potential for export from India and how many start-ups can enter the export business to make a successful career.

Assistant Director of Marine Products Export Development Authority R Prasad Naik mentioned that the country exported 6.05 lakh tonnes of marine products worth Rs 27,575 crore in the first six months of the current financial year 2021-22 with Andhra Pradesh as the leading global marine products exporter with East and West Godavari districts leading as the second largest marine products exporters from the country. Director, ELITE Group A Ravi Shankar presented the logistics support available in and around Andhra Pradesh. He said the traditional products like Etikoppaka toys, Pochampalli saris and Araku coffee along with huge untapped traditional products have a global export potential.

The roundtable coordinator and Associate Professor Radha Raghuramapatruni said India's export basket has changed from agricultural products to more machinery, chemicals and technology products. Especially post pandemic, this shift has been drastic with a lot of digitalisation and automation and firms looking for nearshoring and quality financing.