There is a need for students of Foreign Trade to study the reasons behind the decline in cashew exports from India and suggest remedial measures, Director of the Integral Institute of Advanced Management (IIAM) B. Parvathiswara Rao has said.
Addressing a group of students from the Indian Institute of Foreign Trade (IIFT) at a meeting organised by the Vizagapatam Chamber of Commerce and Industry (VCCI) here on Friday, he said that India had a share of 92 per cent in the world cashew exports. Though the share has come down to 39 per cent, India continues to have monopoly in cashew exports.
Prof. Parvathiswara Rao said that there around 350 cashew export units in Srikakulam district alone and a majority of them were concentrated in Palasa. Srikakulam accounts for 60 per cent of the total cashew exports from India. But, for the last few decades exports from Palasa have stopped and students could study the reasons for the same. Though China and Vietnam were emerging as competitors in cashew export trade, India has the highly skilled labour for processing the cashew nuts. Cashew industry was highly labour-intensive and each small company was employing around 800 to 1000 workers. Only India was able to export the nut as a whole after processing. This was because skilled labour was required to extract the nut as a whole without splitting. Prof. Parvathiswara Rao underlined the need to develop agro-based industries to prevent migration of villagers to the urban areas. CEO of Symbiosys Technologies O. Naresh Kumar inspired the students to inculcate discipline, work with commitment and remain loyal to their organisation to attain their goals in life.
VCCI honorary secretary M.V. Narayana Rao said that 30 IIFT students, 15 from the main campus in Delhi and the rest from the Kolkata campus, have come to the city on a study tour.
