Federation of Indian Export Organizations (FIEO) Joint Deputy Director General (South) K. Unnikrishnan said here on Monday India accounted for a paltry 1.67 per cent of the global trade in 2015-16 compared to about five per cent that small countries like Malaysia and Singapore command in spite of their limitations.
“India has signed Free Trade Agreements (FTA) with 27 countries but they are not fully utilised by Indian exporters. As a consequence, they are unable to realise their potential,” Mr. Unnikrishnan observed.
Speaking at a seminar on ‘International business forum-Expanding business globally’ jointly organised by the FIEO and the Andhra Pradesh Chambers of Commerce and Industry Federation (APCCIF), Mr. Unnikrishnan said exporters should explore the African, the Commonwealth of Independent States (CIS) and the Latin American markets.
Saud Salim Al Mazrouei, Director of SAIF and Hamariya Free Zones, said the SAIF Zone was one of the fastest growing free trade zones in West Asia and offers tremendous opportunities to Indian businesses.
