The ‘Buying Agents Association’ was formed to fulfil the need of Buying Agents to get together formally and work to improve their standards and growth avenues. In a formal conversation with Vishal Dhingra, Chairman, BAA, Perfect Sourcing attempts to find out the agendas and milestones the associations aim to achieve in the coming year.
The association is actively participating in over 100 trade shows and 300 events to network and stay abreast of industry trends. This effort contributes to creating a sourcing platform for BAA members. The whole idea of BAA was to bring all buying agents under one umbrella and pass on few benefits which otherwise would have been difficult.
Excerpts:
PS: What is the vision of BAA and how do you plan to attain this?
Chairman: Our main aim is to be recognised as a nodal body representing all buying/ sourcing consultants. To promote growth of export industry in association with Govt. of India; all export Promotion councils and exporter associations. Along with this we want to streamline the buying experience of foreign customers.
PS: Since its inception how has BAA achieved its goals?
Chairman: I am glad to inform that BAA has achieved significant milestones, including having over 300 members bringing in business worth USD5 billion. The signing of Memorandum of Understanding (MOUs) with various councils and trade bodies demonstrates a commitment to collaborate and form new alliance with industry peers.
Our key focus is on increasing knowledge and fostering development programs crucial for the growth and sustainability of the industry.
BAA is actively contributing to the industry’s success by fostering collaboration, supporting knowledge enhancement, and investing in skill development initiatives. Such efforts can have a positive impact on the overall competitiveness and professionalism of the buying and sourcing sector.
PS: What are your major milestones as an association since the formation of BAA?
Chairman: The consistent growth in membership, with a target to reach 1000 members by the end of 2025, reflects the appeal and value that BAA provides to professionals in the buying and sourcing industry.
Our milestone has also been achieved with the establishment of BAA’s own office at the Expo Mart that provides a physical presence and signifies a level of permanence, which can enhance the association’s visibility and accessibility.
The inclusion of institutional members in the governing body indicates a diverse and representative leadership, bringing in varied perspectives and knowledge for the benefit of the industry.
The formation of various performing committees suggests a structured approach to addressing specific aspects of the industry, allowing for focused efforts and expertise in key areas.
PS: What is your opinion about Bharat Tex. How do you think it will be beneficial for the members for BAA?
Chairman: It sounds like Bharat Tex is a significant and strategic initiative by the Textile Ministry, aiming to showcase India’s strengths in the textile industry on a global scale. The approach of bringing together multiple Export Promotion Councils (EPCs) and various textile-related products from across the country under one umbrella is a commendable effort. By positioning Bharat Tex as a hub for textile-related products, India can enhance its global visibility and appeal, especially as businesses are exploring options beyond China.
The focus on inviting overseas clients and showcasing strengths can potentially attract investments and foster international trade relationships, contributing to the growth of the Indian textile industry.
Further, the inclusion of seminars indicates a commitment to fostering collaboration within the industry. This can lead to valuable partnerships, shared insights, and collaborative initiatives.
The strong support from the Government towards Bharat Tex adds credibility and can further encourage participation from both domestic and international stakeholders. Overall, Bhara Tex appears to be a well-thought-out initiative that addresses the current global economic trends and positions India as an attractive option for investment and sourcing in the textile industry. If executed effectively, it has the potential to contribute significantly to the growth and success of the Indian textile sector.
PS: As an association, what are your plans to expand and grow in FY 2024.
Chairman: Buying Agents Association (BAA) is actively engaging in tie-ups, knowledge sessions, and discussions to prepare its community and the broader export industry for upcoming changes in the European Union (EU). Here are some positive aspects of these initiatives:
Preparing the community for upcoming changes in EU regulations demonstrates foresight and a commitment to ensuring that members are well-informed and able to adapt to evolving market conditions.
Another plan is hosting knowledge sessions is a proactive approach to skill enhancement that can help members stay updated on industry trends, regulations, and best practices, enhancing their overall competitiveness.
Actively promoting and selling Indian products overseas is in line with the broader goal of positioning India as a favorable sourcing option, especially considering the “China +1” strategy.
By keeping members informed about international market changes and fostering collaboration between SCs and vendors, BAA contributes to enhancing the global competitiveness of Indian products and services.
PS: Please share your current status in terms of numbers of associated members and benefits your members get via BAA
Chairman: We have a strength of over 300 members and associates at present including few Liaison offices, big and medium Buying offices besides few start-ups and new companies who want to venture into sourcing.