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May 18, 2001
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Money > Business Headlines > Report May 18, 2001 |
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Exporters must tap Latin American markets: MaranBS Economy Bureau The government on Thursday said it was necessary to diversify India's commodity and country basket so that export to regions like Latin America increases and the export tempo is sustained. "Irrespective of whether it is a hard landing or a soft one for the United States economy, its implications on our exports cannot be overlooked. Latin America and Europe are our obvious options," commerce and industry minister Murasoli Maran said while addressing a conference of Indian heads of missions to Latin American countries. The minister also said that the exporting industry should aim for at least one per cent share in the total imports of the Latin American countries from the present low level of 0.33 per cent share. To achieve this target, India's export to Latin America should be stepped up from $ 1 billion to $ 3 billion, he added. Maran also said that the India's missions abroad should play a more proactive role in trade and economic co-operation, with the commercial sections providing valuable commercial and market inputs. The minister added that the government would be looking for policy inputs from the missions on trade opportunities in the region which Indian exporters could utilise to foray into new markets. "Our missions need to provide us commercial intelligence including anticipated policy changes, which could create trade opportunities for us. Our missions need to face this challenge," Maran said. Powered by YOU MAY ALSO WANT TO READ:
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