Co-located Paperworld India, Corporate Gifts Show and Interior Lifestyle India presented by Ambiente India slated in March 2021

Theassociation.News September exports grow by 5.27 to USD 27.40 billion for the first time during the fiscal showing signs of revival as gradual lifting of lockdown further improves business sentiments: Sharad Kumar Saraf, President, FIEO

Reacting to September 2020 export figures, FIEO President, Mr Sharad Kumar Saraf said that the monthly exports have grown by 5.27 to USD 27.40 billion first time during the financial year 2020-21 showing signs of revival as gradual lifting of lockdown have further improved the business sentiments. Anti-China sentiments across the globe has also been one of the reasons for the improved performance in exports. Besides, the exporters must be complimented for their excellent performance in spite of these challenging times. Mr Saraf reiterated that the arrest in decline of exports started during July with a lower negative double digit decline of 10.21 percent from a very high negative double digit decline of 60.28 percent during April, 2020 caused mainly due to lockdown measures followed across the globe because of Covid-19 pandemic.

As business activities and economic sentiments are inching towards normalcy globally, Mr Sharad Kumar Saraf added that exporters have started receiving a lot of enquiries and orders from across the globe helping many sectors to further show improved export performance, which is likely to get better and better in next few months. FIEO Chief, further added that integration in the global supply chain has also started showing signs of resilience further helping to give a boost to the Indian economy.

FIEO President said that the exports of agri products, plantation & other cereals along with iron ore, carpet, ceramic products & glassware, drugs & pharmaceuticals, handicrafts excluding handmade carpet, meat, dairy & poultry products, jute mfg. including floor covering, cotton yarn/fabs/madeups, handloom products etc., RMG of all textiles, plastic & linoleum, petroleum products, engineering goods, organic & inorganic chemicals and electronic goods showed either a very high or impressive growth or were in positive territory showing signs of further revival. However, reduction in imports during September 2020 by 19.60 percent to USD 30.31 billion compared to the same period during the previous fiscal led to a trade deficit of just USD 2.91 billion with a substantial decline of 75.06 percent during the month. Reduction in import of precious metals including Gold and Silver along with leather & leather products used as raw material for gems & jewellery and leather & leather product exports has also seen a negative growth during the month which does not augur well for these major labour-intensive sectors of exports.

With the WTO trade estimates for the second quarter putting the contraction only at 13 percent and the country’s exports showing signs of revival, Mr Sharad Kumar Saraf is of the view that going with this trend, India’s exports is likely to be in the range of USD 290300 billion during the current fiscal. Which itself would be an impressive performance from the overall exporting community and for the sector as a whole who are facing such tough global conditions.

FIEO Chief reiterated that the urgent and immediate need of the hour is to address some of the key issues including the release of the MEIS benefits, resolving risky exporters issues, early introduction of RoDTEP across all sectors, capping of Rs 2 crore MEIS per IEC, introduction of NIRVIK Scheme and expediting introduction of the E-Wallet Scheme, which will further help in reviving the exports during these difficult and torrid times.

Inaugural PCMA Convening Asia Pacific announces speakers and program

Program to deliver the skills, business models and marketing strategies needed in a post-COVID-19 era

Professional Convention Management Association (PCMA) will host renowned speakers from Google, George P. Johnson, Jack Morton and more, at its inaugural Convening Asia Pacific: The Global Recovery Forum in a hybrid format on Tuesday 10 November 2020.

The program which will be a mix of panels, seminars and workshops, will feature highly experienced event professionals, including:

Nicki Kenyon, Board Member, Australian Grand Prix Corporation, ex Facebook, Visa, Visit Victoria and experienced marketing and growth strategist

Rebecca Hallett, APAC Head of Events & Experiences, Google

Anna Patterson, Vice President and Managing Director, George P. Johnson Experience Marketing, Singapore

Jack Delosa, Founder, Chairman and Executive Director, The Entourage

Lucille Marie Essey, SVP, Executive Creative Director & Show Director, Greater China, Jack Morton Worldwide

Lisa Ronson, CMO, Coles Group, ex Tourism Australia

James Bennett, Director of Creative Technologies APAC, Project Worldwide Hong Kong

Nicki Kenyon, Board Member, Australian Grand Prix Corporation, ex Facebook, Visa, Visit Victoria and experienced marketing and growth strategist Globally experienced strategic marketing leader and growth strategist Nicki Kenyon, who will moderate a panel session at Convening Asia Pacific with other successful CMO’s, said the marketer’s role in driving growth and engagement for a company or event is more important now than ever.

“Building successful marketing campaigns is reliant on clear business goals, a detailed, well thought out strategy and a customer-centric approach. Events are built on a foundation of entertainment, and even though not many events are running face-to-face at the moment, we need to remember what the essence of events are – engaging with our audiences.

“COVID-19 may have changed the events industry and how we appeal to audiences, attract sponsors and sell tickets, but with it there has also been opportunities to adapt, test new channels to use and consider new ways to engage with audiences outside of our regions.

“At Convening Asia Pacific, the panel of marketers and I will share our experiences in building successful marketing strategies, adapting tactics in a data and technology enabled world, and discuss how to appeal to a B2B landscape virtually,” said Ms Kenyon.

Karen Bolinger, PCMA Managing Director of APAC,

said the program and speakers embody exactly what is needed for event professionals right now.

“Through the APAC survey we’ve conducted we’ve heard loud and clear that reskilling and upskilling into the new world is top of everyone’s’ list. The content and speakers are experts in their fields of marketing, event experience and commercialisation.

“Some key sessions will provide valuable insights into digital marketing from the technical, creative, data insights and distribution channel perspectives. This will appeal to audiences who want to boost attendance and engagement, setting the event up for success and answering the ‘how’ of events today.

“We’ll be hearing from agencies who are on the cutting edge of technology about what event formats translate virtually, technology of the future and our speakers will share best practice tips and tricks to engage audiences.

“Convening Asia Pacific speakers draw on diverse professional backgrounds, and they are all supportive and optimistic for the future. They will share their practical insights and experiences on how to transition events, be visible and develop new mindsets for the individual, the business and the industry,” said Ms Bolinger.

FIEO welcomes the decision of RBI to discontinue the automatic caution-listing while simultaneously monitor the exports realisation through banks

The Federation of Indian Export Organisation (FIEO) has welcomed the RBI's decision of discontinuation of automatic caution-listing of exporters. Mr Sharad Kumar Saraf, President, FIEO thanked Shri Shaktikanta Das, the Governor, Reserve Bank of India (RBI), for meeting the long pending demand of FIEO, for discontinuing the automatic caution-listing for exporters saying it was a threat, more so, since the outbreak of coronavirus as exporters were not in a position to approach banks physically to get exports realisation entries updated in the EDPMS Module.

FIEO Chief added that accepting the request to do away with automatic caution-listing will provide relief to exporters particularly since in a large number of cases the entries remain non-updated at the end of Authorised Dealer (AD) Banks due to numerous factors. The onus will be on AD Banks to update exports remittance and if payment is not realised, to report the same to RBI for appropriate action. The new mechanism strikes a nice balance between the responsibilities of exporters and bankers while simultaneously ensuring that realisation of exports proceeds is constantly monitored.

FIEO President also said that the changes made in the EDPMS making it more user-friendly and equitable basing it on the case-specific recommendations of the AD banks will further bring ease in the working of the exporting community. The Reserve Bank of India introduced the Export Data Processing and Monitoring System (EDPMS) in 2014 for all banks to bring their transactions with the exporters online.

Hailing RBI’s Monetary Policy Statement 202021, the FIEO Chief said that the exporters appreciated the bank’s intent to enhance liquidity support for financial markets so as to revive activity in targeted sectors of the economy, besides providing a boost to exports sector.

India amongst the top three choices for future investments: CII - EY FDI Survey of MNCs

India has emerged as one of the top three choices for overseas investments in the next 2-3 years, according to the FDI survey released by the Confederation of Indian Industry (CII), in association with EY. The CII-EY FDI survey on the theme, ‘How can India step up its game?” has been brought out to gauge the market sentiment amongst the Indian as well as non-Indian MNCs.

According to the survey, more than two-thirds of the MNC respondents, India is the number one choice for future investments. 25% of the respondents, who represent non-Indian HQ MNCs, view India as the first choice for future investments. The survey shows that more than 80% of all the respondents and 71% of the non-Indian headquartered respondents plan to make investments globally in the next 2-3 years. About 30% of companies are planning to invest more than USD 500 million.

About 50% of respondents see India amongst the top three economies or leading manufacturing destinations of the world by 2025. The respondents have pinned down market potential, skilled workforce, and political stability as the top three reasons to make India their favored destination. Other key factors which contribute to the attractiveness of India as an investment destination include cheap labor availability, policy reforms, and availability of raw materials. Recent reforms in the country such as corporate tax cuts, Ease of Doing Business measures, simplification of labour laws, FDI reforms, and focus on human capital have emerged as the top drivers for fresh investments. Non-Indian HQ MNCs have also opined that major investment in infrastructure and 100 Smart cities as well as financial sector reforms will also help in establishing India as a favorable destination for FDI.

The CII-EY survey results strongly indicate that India will be the next global investment hotspot with a high proportion of MNCs placing it at the top of their investment agenda. The recent major structural reforms, proactive Government processes and the quick pickup in economic activity following Unlock measures are contributing to global investor interest,” said Mr Chandrajit Banerjee, Director General, CII.

For 40% of the non-Indian HQ companies, effective implementation of labour laws and FDI reforms are very significant, while 52% of the Indian HQ companies believe corporate tax rate reduction would be the prime mover of future investments.

The survey has also brought out some key recommendations sought by the respondents. Infrastructure development, faster clearances, and proper implementation of the improved labour laws and labour availability as the top three issues that the companies want the government to focus on, followed by R&D and innovation, and tax reforms.

In terms of Trade Policy reforms, investors would like to see a faster turnaround time for exports and imports, improved cargo handling, and trade facilitation measures to be in place.

The survey assesses India’s competitiveness in terms of key parameters and analyses whether India is likely to be the “+1” jurisdiction for those seeking to relocate investments or making fresh investments.