FIEO, India’s apex trade promotion body set up by the Ministry of Commerce and Industry in India promotes India's international trade. FIEO represents small, medium and large scale exporting units spread on a pan-India basis. Today it boasts of a direct membership of over 22,000 companies. They represent every product and service sector of India.
It has been FIEO's endeavor to promote trade with important international markets in line with the objectives of the Indian commerce ministry and the country as a whole. FIEO has offices all across India.
FIEO is participating at International Sourcing Expo Australia. It is by far the biggest spectacle showing Indian products in Australia. More than 65 Indian companies are participating and showing manufactured goods like apparels, textiles, sports goods, home furnishings, industrial textiles, leather products etc.
In his speech at ISEA, S C Ralhan-President, FIEO said the objective of the Indian participation is to project the image of India as a fast emerging economy in Asia and its attractiveness as a destination for high end manufactured goods. “Australia is India’s largest trading partner in East Asia with a bilateral trade of about 12 billion dollars in 2015-16.India's exports to Australia in 2015-16 registered a growth of 17.29 per cent with the trade balance in favor of Australia. However, the trade is nowhere its potential and there is immense scope for expansion,” he said.
“India and Australia have much to share with one another and we have seen our relationship expanding in many ways over the years, including through increased people to people links. Australia has also placed India at the forefront of its international partnerships. Both the governments recognise that there is a significant potential for further expansion iof co-operation in wide range of areas. The two countries are actively engaged in Regional Comprehensive Economic partnership (RCEP) negotiations to work out most beneficial tariff arrangement between the two countries besides other partners,” he poi nted out.
