The Federation of Indian Export Organisations (FIEO) has emphasised the significance of enhancing focus on technology-driven higher revenue-earning product exports, a strategy bound to benefit Telangana as the State looks to accelerate growth in several sectors from engineering, medical devices to pharmaceuticals.
An apex body of government-recognised export promotion councils, FIEO mooted a number of support measures, to be initiated by the Centre and the State governments, towards facilitating the change in composition of the export basket. Providing impetus to product manufacturing, on the lines of Thailand, South Korea and China, district industries centres (DICs) backing the One District One Product (ODOP) concept with sufficient infrastructure, reskilling/upskilling of the workforce as well as working to reduce logistics cost of export figure prominently in the list.
Sharing contours of the export strategy at a meeting of Telangana exporters that FIEO convened in the city recently, Director General and CEO Ajay Sahai said 70% of global imports were primarily technology-driven products in which India had a miniscule share as 70% of the country’s exports were non-high revenue-earning products.
