INDIAN FEDERATION TO REPRESENT DOMESTIC MARKET GLOBALLY
A Valuable insight by Mr. Vikas Mittal, FIEO Representative had an exclusive interaction with TVC during International Sourcing Fair, Australia @ Melbourne in November 2019.
The Federation of Indian Export Organisations represents the Indian entrepreneur’s spirit of enterprise in the global market. Known popularly as “FIEO”, this apex body of Indian export promotion organizations was set up jointly by the Ministry of Commerce, Government of India and private trade and industry in the year 1965. FIEO is thus a partner of the Government of India in promoting India’s exports.
20% growth from last to last financial year. We are expanding and we have not finalized our agreement with Australia. We hope that we will sign it soon. We are waiting for the agreement to be signed which is beneficial to the Indian exporters for their duty relaxation. Just like China is getting a benefit of nearly 5%. It will help all the Indian exporters to create a benchmark and we will come out with bigger numbers than China.
Mostly the products are women’s wear. Women’s wear has great potential in this market. Women’s wear of different products like cotton, eco friendly, and some designer materials which are trendy. Some are coming up with kids’ garments also. I would say that women’s wear has a great demand here in every product like kafkaan, dresses, swimwear.
SPORTS UPGRADATION IN INDIAN MARKET
Sportswear isn’t coming along just yet but we have some international companies who are participating and are getting good responses. In this show of International sourcing expo, I think sportswear has good potential and I would promote it next time so we get the maximum number of sportswear companies. We have a great belt in Jalandhar and Meerut where sportswear has great potential and they are certified and match the certification criteria that Australia wants. We will help the sportswear market in India to participate in Australia. Taiwan, Vietnam markets are doing very well because they are coming up with goods in a cheaper way and they have tax benefits too. I would say that Indian sports goods are quality products and we are supplying to many major nations like Europe, America. Australia also has great potential so we would recommend all the sports units in India to participate in Australian shows so they can explore and market in a big way there.
MARKETING KEY STRATEGY
It’s a beautiful country with beautiful people. We should first sell what they ask of us and not what we want to sell. We should understand the demands of the Australian buyers and then accordingly customize and bring our products for them.
Our main agenda is to promote exports from India to all over the world. As far as Australia is concerned, we are participating in this show for the last 6 years. This year we have come up with more than 60 numbers. There are other councils also who have joined us as co-partners. India has more than own hundred boots and we are hopeful that we will get the business here. As you can see, we have many buyers and we hope to expand our wings to the Australian market as well. The garment industry wants to come to Australia because there is a difference in the weather cycle in India and Australia so they get orders for the next season. When they don’t have any orders for the current market, they can cater to the Australian market. This is a major point why Indian manufacturers would explore the Australian market and buyers.
The show, International sourcing expo is great. Many retailers and buyers from across Australia and New Zealand have come. We are getting a very good response and we will come back with more numbers. Garments have great potential and they are coming up with new designs, new technology, and eco-friendly products which is in great demand in Australia. Thank you.
– Credit Instrest Rate is 7-8 %
– Logistic cost is more as compare to other countries
– GSP benefits are not getting to some countries , but our competitor countries getting benefits
– MSIE benefits withdrawn from government
– publicity benefits for market development are given by government but still need more to explore in un touch area of world.
– there is lot of untapped market potential , we need research and Study on same.