(MENAFN- KNN India) New Delhi, Mar 19 (KNN)
Ashwani Kumar, the newly elected president of the apex exporters body, FIEO (Federation of Indian Export Organisations), is rallying for enhanced support to Micro, Small, and Medium Enterprises (MSMEs) to drive export growth.
He stresses that fostering a conducive environment for exporters, especially Micro, Small, and Medium Enterprises (MSMEs), is vital.
Recognising the pivotal role of MSMEs in this trajectory, Kumar calls upon financial institutions to step up and offer unwavering support to these enterprises.
As the backbone of the economy, MSMEs require tailored financial solutions to overcome hurdles hindering their expansion and contribution to export growth.
This includes facilitating easy access to low-cost credit and providing robust marketing support to propel export growth.
Addressing the challenges posed by the Red Sea crisis, Kumar emphasises the imperative need for measures such as ensuring the availability of marine insurance and rationalising freight charges.
Kumar's vision extends beyond immediate hurdles, as he advocates for the swift conclusion of free trade agreements with strategic partners like the UK and Oman.
These agreements, he believes, will catalyse India's outbound shipments and contribute significantly to achieving the ambitious USD 1 trillion goods export target by 2030.
In addition to navigating existing challenges, FIEO under Kumar's leadership is actively exploring new avenues for exporters, particularly in regions like Latin America and Africa.
This strategic expansion aims to diversify export destinations, mitigating risks associated with over-reliance on any single market.
Despite the hurdles, Kumar remains optimistic, citing a notable 12 per cent increase in exports in February, amounting to USD 41.40 billion.
This upward trajectory underscores the resilience of India's exporting community, who have demonstrated remarkable tenacity amidst global uncertainties, including the fallout from the Russia-Ukraine conflict.
(KNN Bureau)
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