Telangana exports to double within five years

Telangana exports to double within five years

Agency News

Hyderabad, Jul 25: Federation of Indian Export Organisation (FIEO) Southern Regional Chairman, Israr Ahmed on Thursday said that the Telangana Exports are to be doubled within five years from USD 7.38 billion exports registered in the state in 2018-19.

Addressing at a Seminar on exports from Telangana –issues and prospects being organized by the Federation of Indian Export Organisation (FIEO), Telangana Chapter here, he said the top ten leading sectors comprising Pharma, Chemicals, Organic Chemicals, Granite and natural stones, Electric machinery and equipment, other misc chemicals, Buffalo meat, Gold and Jewellery, Industrial machinery for dairy comprise nearly 72 per cent of the exports.

In Agri sector, commodities with more than 1 percent share while rice(Other Than Basmati) - 1.65 per cent, Spices ( 1.47%), Cereal preparations (1.17%), he informed.

Telangana has a lot of sunrise sectors which it needs to focus on and these sectors such as gaming and animations, Medical Tourism, Defence, Aerospace General Tourism, Power And Energy, Agri And Food Processing, seeds export etc, provide a lot of scope for skills, job opportunities and employment generation, he said.

FIEO will be glad to be of service to the Telangana state in improvement in these areas and will actively work with the state in development of exports of these sectors from the state, he stated. FIEO CEO and Director General , Dr Ajay Sahai has delivered on Global Trade Scenario, Challenges and way to Increase Export from Telangana.

GST Principal Commissioner (Secunderabad), M R R Reddy,who released a book on GST for MSME sector which compiled the latest rules on relaxation of compliances in GST in the MSME sector, stated that in the recent changes refund of both CGST and SGST will be made by the CGST authorities only.

Addressing on the occasion, Additional Director General for Foreign Trade , Hyderabad, SBS Reddy urged the exporters of Telangana to come up the various issues concerning exports and address them to the Government in order to improve upon the same. He also asked the exporters in avail of interest subvention in exports which to a large extent is being foregone by exporters due to lack of awareness.

HDFC Senior Vice-President and AP and Telangana Zonal Head, S Sridhar provided an overview of HDFC operations and also the MSME lending’s being done by HDFC Bank in Telangana. He stated that HDFC was the second largest private sector bank in Telangana.

More than 100 exporters from various sectors flagged several issued during the interaction session both issues on central level, banking levels, non- refund of SGST, State infrastructure and Railway connectivity for export cargo to Kolkata and Chennai. (UNI)