Faculty of Management Studies- Amity University Uttar Pradesh in collaboration with Directorate General of Foreign Trade (DGFT), Ministry of Commerce- Government of India conducted a day long seminar on “Niryaat Bandhu Scheme” – An initiative of DGFT for mentoring first generation entrepreneurs in foreign trade. Mr. Sumeet Jerath, Addl. Director General of Foreign Trade – North Zone alongwith Dr. Sukhbir Singh Badhal, Ms. Tanu Singh, Mr. Vishal Sharma, Mr. Rajiv Soni and Mr. Gagandeep Singh from DGFT briefed the audience regarding the Niryaat Bandhu Scheme.
Dr. Sanjay Srivastava, Dean – Faculty of Management Studies – Amity University welcomed the delegation from Directorate General of Foreign Trade. Dr. Srivastava said that we at Amity University are always in search of excellence by providing world’s best education trained by industry experts. Dr Srivastava added that becoming an entrepreneur is not an easy task and it involves lot of research, hard work, perseverance and attitude of winning. Dr. Srivastava said that the delegation from Directorate General of Foreign Trade will help all the budding entrepreneurs who want to set up EXIM houses or want to set up their ventures in foreign trade.
While addressing the budding and curious entrepreneurs, Mr. Sumeet Jerath, Addl. Director General of Foreign Trade – North Zone said that DGFT runs various schemes for trade promotion and facilitation. Using this facility, an entrepreneur may file, prepare and track online application in these schemes. Mr Jerath further added that Niryaat Bandhu Scheme is part of the foreign trade policy 2009-14 for catalyzing India’s exports, to mentor first generation entrepreneur and providing various types of incentives to exporters. While talking about the position of International trade in Indian Economy, Mr Jerath said that in financial year 2012-13, India witnessed overall trade of US$ 1trillion which is around 50% of GDP of which Merchandising Exports was of US $ 300 billion, Merchandising Imports was of US$ 500 billion, Service exports was of US $ 145 billion and service imports was of US $ 80 billion. Mr. Jerath said that we are entrenched and interlinked in global economy and any happening in global stock exchanges is bound to effect Indian stock markets also.
Mr. Jerath apprised the audience about the procedure of entering into export or import business. The first requisite is to get Importer Exporter Code (IEC) from DGFT by applying in form ANF2A followed by choosing the area of business from the various categories. Mr. Jerath also touched upon the various schemes of DGTF like Vishesh Krishi and Gram Udyog Yojna, Agriculture infrastructure incentive scrip, Focus Product scheme, Market linked focus product scheme. He also briefed about the ranking system or status holder certification of export houses in the ascending order of ranking from export house, star export house, trading house, star trading house and premium trading house.
Responding to the queries of students on how to be successful exporter, Mr. Jairath said that right attitude is more important than aptitude and ability. An exporter’s rise in business would depend on his attitude towards work, competition and workers. A successful exporter should have ‘star in his eyes’ and ‘fire in the belly’ and should move from one height to another in relentless pursuit of perfection.
Mr. Gagandeep Singh, Asst. DGFT said that Asian countries have the highest export dependence. There are number of countries that are very active in exports like China, Indonesia etc. Mr. Singh also touched upon the methodology of selecting a market and product. He advised that after thorough research, one must select a country and then select top 20 import products of that country. Then one should compare share in imports of that country with India and lastly choose potential sectors for import of the product. Mr. Singh gave the example of Myanmar whose 45% GDP comes from agriculture. In 2013 Myanmar had removed trade license requirements on import and export of 600 products. One can target any one product from intended list which Myanmar imports heavily.
Mr. Vishal Sharma, Niryaat Bandhu from DGFT briefed the audience about export of Agro-Food products from India. Mr. Sharma said that India ranked second in agro food production after China and 60% of exports are done by big export houses. During 2012-13, India exported Rs 5986 million of fruits & vegatables, Rs 2,01,319 million of animal products, Rs 3,40,971 million of processed food, Rs 5,25,678 Million of cereals. Mr. Sharma added that apart from large investment pumped in by the private sector, public sector has also taken initiative for setting up perishable cargo and integrated post harvest handling facilities in the country.
Senior Officials, faculty members and students of Amity Business School, Amity International Business School, Amity Global Business School were present during the occasion.