The interactive session is part of the series of knowledge programmes conducted by MVIRDC World Trade Center Mumbai across Maharashtra to observe World Trade Day. World Trade Day is a unique initiative of World Trade Centers across the world to create awareness on international trade and its impact on economic development and regional growth.
Speaking on this occasion, Mr. B. S. Joshi, General Manager, District Industries Centre, Aurangabad created awareness about the various schemes of Government of Maharashtra to support micro, small and medium enterprises. Mr. Joshi suggested industry to avail these schemes and enhance their competitiveness in the global market.
Mr. Virendra S Gupte, Senior Faculty, MVIRDC World Trade Center Mumbai conducted an interactive session, where he explained the procedures involved in international trade, the importance of marketing strategy, right costing and pricing of goods and adherence to global quality standards.
Mr. Gupte began the session by sharing an overview of the current developments in international trade, including the ongoing trade tension between USA and China. He also highlighted key trends in India’s exports and imports in recent years.
Mr. Gupte suggested participants to develop strategies for export, which include identifying the right market, adopting quality standards of the importing nation, roping in the right logistics partner, managing currency risks etc. He also brought out the relevance of Market Research and data analytics for identifying consumer demand in foreign countries. Mr. Gupte suggested exporters to consider customer preferences, products of the competitors, regulatory environment and legal requirements in foreign countries.
Mr. Gupte informed about the key features of India’s Foreign Trade Policy and highlighted some of the government schemes/benefits available to exporters. He also covered critical aspects of Quality and Certification requirements according to global standards. Mr. Gupte explained the relevance of International Commercial Terms (INCO Terms) for finalizing contracts with foreign Buyers/Sellers.
Earlier in his welcome remarks, Mr. A O Kuruvila – Advisor – Trade and Education, WTC Mumbai shared the concept of World Trade Day and its objective. He pointed out that the objective of World Trade Day is to encourage small and medium enterprises to explore opportunities in capacity building and seek opportunities in international trade and exports.
Mr. Kuruvila suggested the participants to take advantage of the services offered by MVIRDC World Trade Center Mumbai in enhancing their presence in the global market. He said MVIRDC World Trade Center Mumbai is a preferred catalyst for international trade in India. He also elaborated on the courses offered by World Trade Institute and to impart key skills for aspiring exporters.
After the session, the audience raised queries and clarification on various issues related to international trade during the question and answer session.
Mr. B. S. Joshi, General Manager, District Industries Centre addressing World Trade Day Aurangabad. Also seen in the photograph are (from left to right): Mr. A O Kuruvila – Advisor – Trade and Education, WTC Mumbai, Mr. Virendra S Gupte, Senior Faculty, MVIRDC World Trade Center Mumbai and Mr. D.L. Rajale, President, Marathwada Association of Small Scale Industries & Agriculture