Maser CEO’s take on USD 100 bn trade pact between India and UAE

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By Corespondent
Maser, a television and other electronic products manufacturing company with a strong presence in East Africa is making great marketing inroads not just in Middle East but in African markets as well. This trend is set see the company grow in leaps and bounds in future.

The sweetening part is that last week, India and UAE a far signed far-reaching USD 100 billion-dollar pact to improve connectivity and the overall business environment in two countries.

According to the Maser CEO Mr. Prateek Suri, a business mogul feted the prestigious success in African Continent and  these mega-regional initiatives are viewed as cogwheels to ultimately deepen regional integration, with companies poised to enjoy non-tariff barriers, business growth and in a wider perspective, deepening economic integration in the region to usurp growth in both intra-regional trade and investment.

The ultimate objective of the pact is to improve connectivity and the overall business environment in the region, propping up business environment and how they are impacting their business strategy and synergies.

“We, as a company operating in Middle East and India see that this pact as a precursor that will unleash unlimited opportunities in our trade initiatives that will consequently see expansion to our product demands. The pact is in tandem with the business trends that are taking place in the business world where countries are opening up their markets encouraging inter-regional trade,” suri said.

An observation by Crexcel Marketing company in East Africa, business will solely depend on how Maser products have been received by the consumers and the quality of the product in question. According to Crexcel CEO Mr. Docta Ulimwengu , the Maser products have been well received in the region and continue to do well due to their pocket-friendly pricing and top-of-the-range quality.

“The pact will help will help in shaping Maser business aspirations in the right direction. As it is elsewhere, the mega-regional trade initiatives are complementary in terms of driving growth in the regions and India is certainly set to benefit from increased inter- and intra-regional trade and investments flows, as well as the potential infrastructure investment,” suri said.

Maser will as a result be ideally positioned to sit in the center of global value chains. It is therefore imperative that companies start factoring in these initiatives in their business strategic planning. Otherwise, it could mean missed opportunities for some, and for others, eroding market shares.
“We as a leading electronic manufacturer will be sure to cash in on the growing trends. For example, we are looking into the African free trade area pact to penetrate the African market as well,” added Suri.

In February this year, India and the UAE signed a comprehensive economic partnership agreement (CEPA) which will allow duty-free export of food products, textiles, gems and jewellery, pharma and other products while giving easier access for Indian professionals in high skill sectors to Emirates.

The deal with UAE, India’s third-largest trading partner after China and the US, signals the government returning to signing free trade agreements (FTAs) as it seeks to push exports and movement of Indian professionals. Given the growing bilateral ties, the agreement also signaled the strategic intent and also tap a possible gateway for exports to other countries in the region.

In a survey conducted in the first quarter of 2022 by Crexcel together with East Africa Herald in 20 African countries, Maser commands well over 70 percent of the local and international market share of low-cost TV market segment. The feat of being the top smart TV brand in the Africa and Asia in two consecutive quarters was done in just less than few years since its entry into the African and Middle East market a few years ago.

Maser is a gulf originated brand which is leader in led TV with vast interest in East Africa has been upbeat to make available TV sets that are not only top-of-the-range but also affordable to many.  This augurs well with the company’s quest to not only have its presence in Asia, but to spread out to middle East and Africa as well.