PUNE: The seminar organised by Global India Business Forum (GIBF) on Trade Beyond West: Business Opportunities in Ethiopia, Afghanistan and Indonesia took place on Saturday in the city. The platform discussed the opportunities and challenges of trade in countries apart from the US and Europe.
The seminar opened with a panel discussion on the topic ‘Trade Beyond West’ where experts like Anant Sardeshmukh, Director General and Member of the Board of Maharatta Chambers of Commerce Industries and Agriculture (MCCIA), IIMM Vice Chairman Hitendra Admuthe, Oriental Rubber Industries Pvt Ltd HR & Commercial Department Head Hari Srivastava and World Trade Centre’s Nikhil Oswal.
The panel discussion was about looking for trade opportunities and challenges in countries apart from Europe and the USA.
Talking about the trade opportunities, Sardeshmukh said, “The current environment is motivating and conducive for expanding Indian trade and business not in India and abroad. Ample opportunities have opened up globally and we need to go beyond the traditional ways of doing trade. Looking at only the US and Europe as markets will not suffice. There are opportunities in Africa, Middle East and we have the strength to exploit that.”
Hari Srivastava said, “There are opportunities in African countries but those economies have challenges as they are developing and undergoing transformation. While we are looking at them as a potential market, China is already looking there.”
Nikhil Oswal said, “There are local and cultural challenges in these countries. Language can also act as a big constraint but if you adopt the culture and learn the language, there are lots of opportunities.”
Oswal said, “In India, labour reforms is something we need to do. The smaller industries cannot manage the ‘gundaism’ (hooliganism) happening outside their doors. These small companies are scared of expanding as they fear to manage large number of workers. Once there are labour refors, it will enhance the productivity and quality of products. A Bangalore company cannot work in Pune as they do not know the local rules. Challenges will be magnified when we go outside India, are we ready for that?”
Representatives from Ethiopia, Afghanistan and Indonesia presented the trade opportunities in their countries.
‘TRADE BEYOND WEST’
- The seminar opened with a panel discussion on the topic ‘Trade Beyond West’.
- The panel discussion was about looking for trade opportunities and challenges in countries apart from Europe and the USA.
- Representatives from Ethiopia, Afghanistan and Indonesia presented the trade opportunities in their countries.