Exports is the growth engine for the country, as it increases trade, helps the country in earning valuable foreign exchange and also generates employment, said Mr. Ramesh Holeyachi, Deputy Director General of Foreign Trade, Goa. While addressing the “Open House Meet” organized by World Trade Centre Goa, Director General of Foreign Trade, and Department of Customs in association with Thivim Industries Association on 25th January 2017 at Thivim Industrial Estate. India’s exports share currently stands at around 2% of the world exports and the government of India in its Foreign Trade Policy for 2015-20 has targeted to increase the exports share to 3.5% corresponding to USD 900 Billion. Mr. Holeychi mentioned that the lack of awareness of the various export schemes is one of the main reasons for low exports from the country. He guided the exporters about the recently introduced scheme – REX (Registered Export System) Policy of the European Union, Merchandize Export from India Scheme (MIES), the Service Export from India Scheme (SIES), EPCG Scheme for promotion of Capital Goods and the “Niryat Bandhu Scheme” for mentoring of new and potential exporters.
Mr. Gaurav Jain, Assistant Commissioner, Customs and Central Excise gave a detailed presentation on The Goods and Services Tax (GST). He said that GST will help a great deal in the ease of doing business, as all old manual systems will be replaced by online processes, GST would bring in better Tax compliance and is crucial for success of ‘Make in India’ the flagship programme of the Government of India, he further added.
Earlier in his Welcome address Mr. A. O. Kuruvila, Advisor, World Trade Centre Mumbai gave an overview of the present world trade scenario and the challenges of the Indian economy. He briefly touched on the impacts of Brexit, Change of US Policy issues as well as the decline of GDP of the Chinese economy. He encouraged the participants to avail of the opportunities available in India which is showing the highest growth rate among countries in the world, to climb up further on the ladder of the global trade. He also highlighted the facilities WTC provides to connect the businesses to the global market.
Mr. S.P. Verenkar, President, Thivim Industrial Estate Industries Association gave his opening remarks while Mr. Gurudatta Bhakta, President of The Goa Cashew Feni Distillers and Bottlers Association, proposed the vote of thanks.
The open house meet has witnessed active interactive question answer session from almost all the participants.