TIRUCHI: Industrialists in fabrication sector in and around Tiruchi were encouraged to export opportunities and to diversify their product base at a recent programme organised by the Tiruchi District Tiny and Small Scale Industries' Association (TIDITSSIA) in association with the Engineering Export Promotion Council (EEPC), the Ministry of Commerce, New Delhi.
The participants comprising engineers andentrepreneurs were told to focus on world market by enhancing product value. Senior officials from the EEPC and Export Credit Guarantee Corporation (ECGC) asked them to adopt the methods followed in export business .
By starting Export Oriented Units (EOU), budding entrepreneurs can avail of the benefits of various schemes of the government on export promotion. Demand from the local market might not be encouraging in future, said S. Sridharan, TIDITSSIA president. Export Promotion Councils, the EEPC and the ECGC were playing a major role in safeguarding the interests of small scale exporters.
Even merchandisers could take up export business on engineering goods. Export policies and business formalities had been made simple and user-friendly, he said.
M. Ganesan, Regional Director, EEPC India, Southern Region, detailed on the export opportunities and the precautionary measures to be taken such as verification of buyer and LC (Letter of Credit) opening. He also explained about pricing, insurance, documentation, regulations of various foreign countries and their import policies, delivery schedule management, and export benefits like duty free import, duty drawback, duty entitlement passbook scheme and deemed export.
R. Sathyanarayanan, Branch Manager, ECGC, Chennai, handled a session on the ECGC and its services, discussing both political and commercial risks.
According to S. Abdul Razeed, TIDITSSIA secretary, the initiative aims at promoting Tiruchi as an export hub.
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