First virtual Trade Fair of India
The Export Promotion Council for Handicrafts hosted a four day virtual fair for around 200 Indian Exporters. The exporters were mainly from the industries of fashion jewelry and accessories
The four-day fair that was conducted online focused on markets such as Europe and United States. The fair generated business opportunities of Rs 153 crores. Every seller was provided with a virtual stall.
As an overseas buyer clicks on a stall, he will be directed to the photographs and videos of the product of the seller. If the buyer is interested, he will be provided with the links of immediate interaction through Zoom or Skype. If he places the order, he will be delivered through courier services.
Usually the sellers had to spend around Rs 1.5 lakhs to Rs 2 lakhs to install a physical stall. This time, their expenses was just Rs 10,000 to showcase their products in a virtual stall. This helped several small exporters to participate in the virtual fair.
The Export Promotion Council for Handicrafts will now adopt the method for other goods and services. Also, it is to scale the virtual export fair to cover products in fashion, lifestyle, textiles, home, furniture. Around 3,000 to 50,000 buyers are expected to participate in such future fairs.
Month: Current Affairs - June, 2020
Category: Economy & Banking Current Affairs