The Apex Exporters’ Organisation, FIEO, announced that it has developed a plan to increase India’s exports to the United States in order to take advantage of any chances that may present themselves given that Donald Trump, the US president-elect, has threatened to put high tariffs on Chinese goods.
FIEO (Federation of Indian Export Organisations) Vice President Israr Ahmed stated that the organisation has called on the government to offer financial support to Indian exporters so they can attend shows throughout the United States as part of its plan. He identified apparel and footwear among the areas of focus to drive growth in exports to the American market
Ahmed underlined the need of aggressive marketing and market exposure in the US, saying that more funding will help Indian exporters properly display their goods and take advantage of new opportunities brought about by the changing nature of commerce.
To take advantage of the prospects, more funding has been requested under the Market Access Initiatives (MAI) program. He stated that the plan should concentrate on the United States for a minimum of three years.
He went on to say that FIEO is also considering collaborating with US associations in these fields. He claimed that because of the political unpredictability in Bangladesh, several clothing companies are moving their operations to India. Ahmed mentioned “liquidity” as one of the main issues facing exporters, although he also mentioned that export credit has decreased.
Along with a five-year extension of the interest equalisation program, FIEO has urged the Government to loosen the requirement that payments be made to MSMEs within 45 days of the purchase of goods and services.
He added that in order to handle countervailing duty issues on domestic items under the RoDTEP scheme, FIEO is talking with the commerce ministry about the documentation issue. The action is significant since the US and the EU applied countervailing or anti-subsidy levies on certain domestic units.
