This initiative will revolutionize and boost exports from India in the upcoming and opportunistic market of Latin America, serving as a gateway to all states in the Latin American region - Brazil, Argentina, Bolivia, Uruguay, Paraguay, Chile, Mexico and Panama.
Exporting products to Latin America has never been easy for the Indian manufacturer- traders due to the distance and delivery time constraints and hence they are not able to tap the full potential of the Latin American market, Solemn said.
The agreement between Solemn and Grupo RAS is set to change all that, as the Port Trade Center where Solemn is setting up a permanent warehouse and showroom with inventory, is exempted from all taxes and duties.
For Indian manufacturer-exporters, this is an easy, smart and competitive way to develop sales and distribution channels in South America, Solemn noted.
Announcing the agreement, Shyam Tandon, Chairman and Managing Director of Solemn group said, "Considering the ongoing recession in the export arena internationally, currently Latin America is the only region and upcoming market which can provide the required thrust and opportunities for the Indian Export Industry."
Tandon added, "Upcoming International events in South America like the FIFA world cup scheduled to be held in Brazil from 12thJune to 13thJuly, 2014 and summer Olympics scheduled to be held in Rio de Janeiro Brazil on Aug 5-21,2016 and many other important International events will give an added boost to business and consumption in these markets."
Solemn group will have complete facility of Stock, Show and Sell under this agreement at the Port Trade Center in Uruguay.
The products would be categorized under the following heads-Handicrafts, Jewelry, Textiles, Commodities, Construction, Utility, Equipments, Utensils, Home Decor, Ayurvedic and Herbal Products, Apparels and more.
Jewelry will get the brand name - Solemn and rest of the products will be branded as Aditti.
Tandon said, "This initiative will certainly boost the Indian products with 'Made In India' tag in Latin America."
He added, "Indian goods, especially handicrafts, jewelry, and textiles have a huge potential in Latin America. This agreement will specially help the SMEs and small manufacturers who are constrained to export their products due to the long distance between the regions and Govt regulations."
"Solemn will procure large export orders for them, facilitate quality checks at multiple levels to ensure that the orders are serviced and fulfilled and also assist with the logistics. This agreement will also bring in valuable foreign exchange to the Govt's kitty," he noted.
--IBNS (Posted on 17-10-2013)