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Federation of Indian Export Organisations (FIEO) in its latest study has said that aggressive marketing strategy including support from the government can help Indian businesses tap $112 billion export potential in ten countries like the US and UK in three years. It said that to tap this potential, a proper strategy is required.

FIEO suggested the government to formulate a scheme to support participation of domestic industry in exhibitions, buyers-sellers meet, and roadshows in important cities of these ten countries to showcase Indian goods. Besides, Indian missions in these countries should identify market access issues so that those problems can be resolved to promote shipments of domestic goods in those destinations as non-tariff barriers impact exports. It also said the missions can also help industry organize meetings with leading importers. It added that active print and electronic media campaigns can be considered to show the prowess of domestic manufacturing capabilities in these countries.

The organization said 'the top 10 countries with the value of untapped exports potential of $112 billion are the US ($31 billion), China ($22 billion), UAE ($11 billion), Hong Kong ($8.5 billion), Germany (7.4 billion), Vietnam ($9.3 billion), Bangladesh ($5 billion), UK ($5.4 billion), Indonesia ($6 billion) and Malaysia ($5.8 billion). It said that due to global slowdown, rising interest rate and high inflation, the demand has taken a hit affecting India's exports also and in this backdrop, it is important to focus on untapped exports potential. According to the study, there is a potential to increase exports of domestic products to these ten destinations and those goods include diamonds, vehicles, jewellery, electronic items, auto components, marine products, apparel, insecticides, iron and steel, tea, and coffee.