In line with the increasing bilateral trade between India and Singapore, Apex exports institution – Federation of Indian Export Organisations (FIEO) is gearing up to boost the participation of small and medium-scale manufacturers and retailers in the trade relation of the two nations.
While speaking on the inaugural day of Singapore International Indian Expo, FIEO Chief Ganesh Kumar Gupta said, “FIEO will be increasing participation by its small and medium scale manufacturers and retailers. The expo is providing wonderful opportunity to micro and small exporters to showcase wide range of quality products to high demanding customers in Singapore.”
“Exporters will move from B2C (business to consumer) to B2B (business-to-business) platform through participation in such expo,” he added.
Bilateral trade between India and Singapore is expected to achieve the target of $25 billion by 2019-20 as it has seen a strong growth in recent years. “We can easily reach $25 billion trade with Singapore by 2019-20, up from the current level of $17 billion,” said Gupta.
FIEO has participated in the four-day expo with 89 other companies, representing sectors like apparel, gems and jewellery, furnitures, handicrafts and textiles. “The participation is likely to be doubled in 2018,” Gupta added.
More than 200 stalls, offering over 10,000 Indian-origin products, have been put at the expo. Indian High Commissioner Jawed Ashraf and Singapore’s Senior Parliamentary Secretary for Trade and Industry Low Yen Ling and other officials also marked their presence on the first day of the expo being held from September 7 to 10 at the Suntec complex.