Exporters target $100 bn trade with China by 2018
16 Oct 2012 11:54 PM GMT
Given the huge potential of India in the global trade market, the country should target USD 100 billion exports to China by 2018, apex exporters body FIEO said on Monday.
In 2011-12, India's exports to China were USD 18 billion.
'We should target USD 100 billion of exports to China by 2018, which requires a compound annual growth rate of about 30 per cent. This is challengeable yet achievable target given the potential of the country,' Federation of Indian Export Organisations [FIEO] President Rafeeque Ahmed said in a statement.
The government is concerned over widening trade deficit with China, which has touched USD 40 billion in 2011, and is also taking steps to bridge the imbalance. Speaking at the inauguration of China Import and Export Fair [CANTON], Ahmed said that participation in such fairs would provide necessary exposure to companies and boost India's exports to China.
The FIEO president urged the manufacturing firms to look at value-added exports, as China is gradually exiting from various industry segments involving large labour force.
In 2011-12, India's exports to China were USD 18 billion.
'We should target USD 100 billion of exports to China by 2018, which requires a compound annual growth rate of about 30 per cent. This is challengeable yet achievable target given the potential of the country,' Federation of Indian Export Organisations [FIEO] President Rafeeque Ahmed said in a statement.
The government is concerned over widening trade deficit with China, which has touched USD 40 billion in 2011, and is also taking steps to bridge the imbalance. Speaking at the inauguration of China Import and Export Fair [CANTON], Ahmed said that participation in such fairs would provide necessary exposure to companies and boost India's exports to China.
The FIEO president urged the manufacturing firms to look at value-added exports, as China is gradually exiting from various industry segments involving large labour force.
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