CCCI delegates off on trade mission to India

CEBU, Philippines - Close to 30 members of the Cebu Chamber of Commerce and Industry (CCCI) will be joining the six-day trade mission to India slated September 20-26, to further strengthen business and trade relationship between major cities in India and Cebu.

CCCI-India Business Council chairperson Mila C. Espina said that the Cebuano businessmen will visit New Delhi and Agra for scheduled business tours, business matching to explore partnerships and opportunities especially in the field for academic and trade exchanges.

The tourism arrivals from India have increased in Cebu, and the uptrend will be sustained with the growing interest in the growth of India, which registered US$12 trillion, the 12th largest economy in the world; and an average 7.5 percent economic growth a year.

The major industries are textile, chemicals, food processing, steel, engineering and transport equipment, cement, mining, petroleum, machinery and software.

Major agricultural products are rice, wheat, oilseed, cotton, jute, tea, sugarcane, potatoes, poultry and fish.

While major exports are gems and jewelry, leather, software while imports include crude oil, machinery, gems, fertilizers and chemicals.

Educational exchanges in IT and outsourcing are the priorities, Espina said.

According to Philippine Ambassador to India Francisco Benedicto, the visit for the Cebuano group is timely for the 60 years of Philippine-India relations celebration.

In an earlier interview with Indian Ambassador to the Philippines Rajeet Mitter urged industry players to tap the huge Indian furniture market.

Mitter said Cebu-based furniture exporters should not discount the Indian market for high-end furniture, as there is now a fast growing community in India, which can afford to buy expensive home furnishings such as furniture.

He noted that the furniture export industry in the Philippines, specifically Cebu is now exploring other markets outside of the US, because of this, India should be considered as one of the highest potential.

Of its 1.1 billion population, a fast growing percentage of which are going up to the middle-high end segment in terms of income, these people he said are looking for quality products, regardless of price, and Cebu's renowned upscale furniture could penetrate this growing market.

At present, Cebu furniture industry players are largely at the European Union, Middle East, and Russia as their alternative target markets to sustain the furniture exports, while the demand for these products in the US market is weakening.

"India is a very big market. Maybe difficult to enter but the potential is there," the Ambassador said.

Mitter, also offered the Embassy's support to help the suffering furniture exporters here to enter the Indian market easily.

"Your furniture product could make a hit in the Indian market. We have a huge and growing middle class and they have money to spend on high-end goods. The number of wealthy individuals is constantly growing," he stressed. — Ehda M. Dagooc