WTC Mumbai organized the third series of ‘Global Market Access Programme’, a unique programme which aims at enabling exporters to expand and consolidate their presence in specific global markets, on ASEAN markets on 16th October, 2019. India-ASEAN trade and investment relations have been growing steadily, with ASEAN being India's fourth largest trading partner. India's trade with ASEAN stands at US$ 81.33 billion, which is approx. 10.6% of India's overall trade. Mr. Arvind Khedkar, International Market expert, having vast experience of the ASEAN markets while he was working with companies like Krishna Steel, Mukund Ltd and Bhilwara Group, started the session with the concept of marketing, and briefed the same with the examples. He explained in detail the six concepts of international marketing. He has reminded the importance of exporting reputation of the country and import of necessities. Exporter has to make product as per the performance basis not as per the specification and exports are made on marginal cost basis. He also briefed on the impact of export and import on inflation. He has also explained the country risk and evaluation, foreign agents and their advantage and the salient features while doing business with overseas market. As far as the ASEAN market is concerned there is a growth in population, GDP & GDP per capita and hence GDP growth is stronger. India is dialogue partner of ASEAN Market.
The major countries for export in ASEAN markets are Singapore, Philippines, Thailand and Vietnam and one need to be careful while doing the business with the Indonesia, Cambodia.
Mr. Roswaidin Mohd Zain, Consular Investment, Malaysian Investment Development Authority made a brief presentation of Malaysian market. Malaysia is the gateway to ASEAN and other economies with a potential market of 2.8 billion people. India was Malaysia’s 10th largest trading partner in 2018. Growth strength of Malaysia are in E&E and Energy Saving Devices, Biotech Products, MRO, Logistics & Transportation , Environmentally Friendly Chemicals and Building Material, Green services – Architecture, Water treatment, Oil & Gas Products and Services, Industrial Chemicals – Oleo chemical, Petrochemical & Hydrocarbons, High technology equipment – Testing and calibration equipment and specialized machinery. Malaysia has strong capabilities in green technology and innovative ICT products and design capabilities in complex smart chips for many applications. It is fast evolving into a regional aviation and MRO services hub. He also told that Indian importers can take advantage of any of the 2 FTA’s namely ASIA India free trade Area (AIFTA) which has a market size is 1.98 bn. and Malaysia India Comprehensive Economic Cooperation Agreement (MICECA) market size is 1.36 bn.
At the end, there was a Question and Answer session where some of the participants got queries solved by Mr. Arvind Khedkar making the event fruitful and beneficial for all attendees.