'India can corner 1% of global trade by 2007'

Going by the current trend in foreign trade, Vidyasager Rao, the Union minister of state for commerce and industry, anticipates that India can corner one per cent of the world trade by 2007.

The current trend has indications that there is a fair chance of crossing one per cent mark of the international trade without much difficulty, he said. At present, the country's share in the global trade is below one per cent.

Delivering speech at an export awards function organised by Visakhapatnam special economic zone, Rao said that units in SEZ had been contributing significantly in the sphere.

Exports from VSEZ jumped to Rs 9,922 crore (Rs 99.22 billion) in 2002-03 from Rs 6,780 crore (Rs 67.80 billion) in 1999-2000, he added. There are 659 export units operating in 8 special economic zones in the country.

In the near future, exports from these units would go up further, he hoped. These units are not only contributing to the country's export basket, but also generate massive employment to the people. Currently, 86,647 people are working in the special economic zone units, he added.

"We need more co-ordination between the industry and self-help groups in the country to increase the exports, and exporters need not fear about the aggressive Chinese marketing," he said.

Speaking on the occasion, K Vidyadher Rao, the state minister for major industries, commerce and export promotion, urged the Centre for transport subsidy for agro and poultry exports from the country.

"Andhra Pradesh produces 3.5 crore (35 million) eggs per day, and to export these eggs, the poultry industry is asking for subsidy on sea freight charges, and for mango and grapes exports, the industry is requesting for subsidy on air freight," he said.

To increase the garment exports, the Union government should reduce duties from the existing 8 per cent to 4 per cent, he said.

The state government has set a trend in implementing reforms in the industrial sector. As a result, AP is getting good response in attracting foreign investments, he added. Both the ministers distributed the exporters awards.

Dr Reddy's Laboratories got the top exporter award for the last two consecutive years, with exports of Rs 448.72 crore (Rs 4.49 billion) in 2001-02 and Rs 300.58 crore (Rs 3 billion) in 2002-03.

For the year 2001-02, top three exporter awards were given to Dr Reddy's, Tata Coffee Ltd and I Process Private Ltd. For 2002-03, these awards were won by Dr Reddy's, Rain Calcining Ltd and I Process Ltd.

For Visakhapatnam special economic zone units, for 2001-02, Worldwide Diamond Manufacturers, Synergies-Dooray Automative and Net Decisions Private Ltd, and for 2002-03, Worldwide Diamond Manufactures, LID Jewellery (India) Private Ltd and Synergies-Dooray Automotive got the best exporters awards.

K Ratna Prabha, development commissioner of Visakhapatnam special economic zone; Sudhir Sanghi, president of AP Export Oriented Units Association; B Satish Kumar, president of Visakhapatnam Special Economic Zone Units' Association; Ramesh Kumar, deputy development commissioner of VSEZ; also participated.