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Indian exporters should target Africa, L America, China: Exim
New Delhi, Aug 27: Emphasising the market potential in Africa, Latin America and China, the Exim Bank today said that India`s export target can be achieved by increasing trade with these regions where its share currently stood at a meagre 0.62 per cent.
New Delhi, Aug 27: Emphasising the market potential in Africa, Latin America and China, the Exim Bank today said that India's export target can be achieved by increasing trade with these regions where its share currently stood at a meagre 0.62 per cent.
Africa, Latin America and China's imports together stood at about USD 760 billion in 2001, accounting for about 12 per cent of global imports, whereas India's export to the regions was only 0.62 per cent, according to the bank's latest study titled strategy for quantum jump in exports: focus on Africa,
Latin America and China.
Outlining an analytical approach for achieving significant increase in India's exports over the medium term, the report released by DGFT Director General L Mansingh said the country could aim to achieve by 2007, a target import share of 10 per cent in Africa, 2 per cent in Latin America and five per cent in China.
The report estimates that if these targets can be achieved, then India's cumulative exports to these regions will increase to USD 24 billion by 2007 from the current level of USD 4.7 billion in 2001, an Exim Bank release said here.
Exim Bank managing director and CEO T C Venkatsubramanian said that India should look at the third world market for its exports as 40 per cent of the imports of developing countries' come from other developing countries.
The target import share works out to an export level valued at USD 18 billion, for the African region, USD 1.8 billion for the Latin American region and USD 4.28 billion for China, the release added.
Bureau Report
Outlining an analytical approach for achieving significant increase in India's exports over the medium term, the report released by DGFT Director General L Mansingh said the country could aim to achieve by 2007, a target import share of 10 per cent in Africa, 2 per cent in Latin America and five per cent in China.
The report estimates that if these targets can be achieved, then India's cumulative exports to these regions will increase to USD 24 billion by 2007 from the current level of USD 4.7 billion in 2001, an Exim Bank release said here.
Exim Bank managing director and CEO T C Venkatsubramanian said that India should look at the third world market for its exports as 40 per cent of the imports of developing countries' come from other developing countries.
The target import share works out to an export level valued at USD 18 billion, for the African region, USD 1.8 billion for the Latin American region and USD 4.28 billion for China, the release added.
Bureau Report