With the COVID-19 second wave continuing relentlessly Goan businessmen are asking for export push to mitigate the negative effect of the pandemic on the state economy.
The World Trade Center Goa organized a webinar, International Trade Trends in COVID-19 Era, recently with the objective of exploring opportunities in exports during the second wave. Participants came up with several suggestions on the export front.
Yogesh Jare, proporietor, Suhasini Impex, in his address pointed out that Goan cashews could be better exploited for more economic benefits. He noted that the demand for Goan cashew nuts has grown exponentially and thus more efforts are needed to augment supply to meet the growing demand.
Jare suggested that there is also a surge in demand for different quality of cashew nuts and the state could also think of importing kernels from markets like Africa, so that the processing of the extra cashew kernels would bring in more raw materials that would improve the operational efficiencies of existing factory units.
He also suggested the idea of setting up of a cashew hub in the state that could look at enhancing the local production of cashew nuts by bringing more land under cultivation to boost the supply. “New incentives and common manufacturing facilities would in turn give a fillip to this sector,” said Jari.
Maxwell Rodrigues, proprietor, Mattzus Global Exports while speaking on merchant exports said that the time has come for exporters to rethink their strategies on tackling the international markets. Rodrigues said that, merchant export houses could exploit new markets for the manufactures and also export the goods on their behalf, thus freeing them from these hassles and helping them concentrate more on the actual manufacture of the goods to enhancing quality and also reduce costs. He also elaborated on the basic knowledge that new entrants into the export business need to have to successfully navigate the International Markets.
“While engaging in international trade a bulk of the business correspondence and transfer of sensitive data is carried out online. This poses a huge challenge as this data transfer could be subject to hacking,” said Jocelyn Britto, independent business consultant. He explained the different ways that hackers across the globe use to try to access sensitive correspondence and data. Britto spoke on the measures and practices that one could implement in order to have a better and safer experience while using the online platforms to facilitate business correspondence and data by implementing safe operating practices.
Answering the question on how exporters from Goa could attract or identify potential new markets, Cyril Desouza, assistant director, trade promotion, World Trade Center Goa, said that the network of the WTC across the globe does play a vital role in this regard.
He pointed out the WTC facilitates and encourages both out-bound and in-bound foreign trade delegations, organizes international exhibitions, conferences and summits that offer a tremendous opportunity for exporters to showcase their products and have networking opportunities for enhancing their knowledge of the new and emerging markets globally. The WTC webinar was held on April 29 2021.