India’s Exports to Latin America, Africa Cross $20 Bn

New Delhi, Dec 7 – India’s exports to the Latin American and African region stood at $20.58 billion last fiscal, Minister of State for Commerce and Industry Jyotiraditya Scindia said Monday.

‘India’s exports to the Latin American region increased from $2.16 billion in 2004-05 to $6.01 billion in 2008-09, registering a growth of about 178 percent,’ Scindia told the Lok Sabha.

‘Likewise, our exports to Africa increased from $5.6 billion in 2004-05 to $14.57 billion in 2008-09, registering a growth of about 160 percent.’

He also said the government had taken steps to expand the existing India-Chile Preferential Trade Agreement (PTA) and India-Mercosur (a bloc of Brazil, Argentina, Paraguay and Uruguay) Trade Agreement to ‘enhance our exports to the Latin American region’.

Negotiations for a PTA with South Africa Customs Union (SACU), comprising Botswana, Lesotho, Namibia, South Africa and Swaziland, were also on, Scindia added.

Posted by Vamban on Dec 7, 2009 @ 7:24 PM Filed under Business, National, Top Stories. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry