A two-day Reverse Buyer-Seller Meet (RBSM), was recently held in Visakhapatnam by the Andhra Pradesh MSME Development Corporation (APMSME DC) in collaboration with the Federation of Indian Export Organisations (FIEO).
The event brought together over 25 international buyers from 18 countries and over 430 MSME exporters (amongst 196 were first time exporters), creating a dynamic platform for export opportunities.
The RBSM was inaugurated by Dr N Yuvraj IAS, Secretary, Industries and Commerce, Govt of AP, who highlighted the critical role of MSMEs in driving AP’s export growth and economic development.
The Secretary highlighted various trade promotion initiatives of AP Government and focus given for developing critical infrastructure with the aim to help industries to reduce logistics costs.
Dr Yuvraj also explained on the various infrastructure projects being executed by Andhra Govt for making exports competitive in the international market.
Mr Vishwa M, Chief Executive Officer, APMSME DC while addressing the participants in the valedictory session said that the AP Govt. has introduced several policies and incentives to support MSMEs, including export promotion schemes, financial assistance, and ease of doing business initiatives.
As per the organizers the event generated prospective business of USD 70, 66,250 wherein 38 MOUs were signed by the first-time exporters, business worth approximately USD 29, 28,000.
Mr Gopalakrishnan, Regional Chairman FIEO South said that exports from AP in the year 2023-24 was USD. 19.3 billion with 5% share in India’s export. He further opined that Andhra Pradesh has the potential to gain 10% of India’s export basket within a short span of time.
