Surat - The Federation of Surat Textile Traders Association (FOSTTA) organized a crucial meeting with resale brokers from the city's textile market on Saturday. The meeting focused on discussing various business challenges faced by the brokers and formulating solutions to improve their operations.

Key Takeaways for Resale Brokers:

• Form a Unified Body: A critical outcome of the meeting was the decision to encourage all resale brokers to come together and establish their own organization. This will allow them to have a stronger collective voice and advocate for their interests within the textile market.
• Enhanced Buyer Transparency: FOSTTA emphasized the importance of brokers obtaining complete buyer information before placing orders with suppliers. This will help mitigate risks associated with unreliable buyers.
• Implementation of NOC System: To address issues with outstanding payments, the meeting proposed a system where brokers would require a "No Objection Certificate" (NOC) before supplying goods to buyers with past payment delinquencies with other brokers. This will promote financial responsibility within the market.
• Clear Communication with Traders: FOSTTA highlighted the importance of brokers clearly establishing terms and conditions with traders before any purchase agreements. This will help prevent misunderstandings and ensure smooth business transactions.

Representatives at the Meeting:

• Kailash Hakim, President of FOSTTA
• Kapilbhai Soni, FOSTTA Director (instrumental in bringing the resale brokers together)
• Other prominent Surat traders

This meeting is considered a significant step for Surat's resale brokers. The collaborative efforts of FOSTTA and the brokers themselves hold the potential to create a more organized and efficient business environment for the resale sector within the textile market.