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Briefing
Leather exports may touch 45% rise in three yrs
As part of a five point strategy to boost exports to Latin America, India has set a target to achieve three-fold increase in exports from around one billion US dollars at present to three billion dollars by 2004. "We are targeting a 45 per cent increase in exports, as part of our initiative "Focus LAC" and expect to export goods, worth three billion US dollars within the next three years", Joint Secretary, Ministry of Commerce and Industry, DK Mittal said, at a buyer-seller meet organised by the Council for Leather exports. The Latin American region's total imports amount to $350 billion, of which the share of India is around $0.7 billion, Mr Mittal said, adding that this year, India's exports were expected to touch one billion dollars.Textile exports hit
The Centre said that the slowdown in the US economy, could have a marginal impact on the country's textile exports, but a clearer picture will emerge only after the magnitude of the downturn is known. "Since more than 20 per cent of the Indian textile exports are routed to the United States, any slowdown there would have its ramifications in the sector, but the impact would be marginal, unless their economy goes for a total tailspin," BC Khatua said. He said the US had a trillion dollar economy and fall in growth was valued in billions of dollars. However, it is to be seen how the purchasing power of the Americans will be affected. and consequently Indian exports in general and textiles in particular.Mr Khatua said against a targeted growth of $15 billion, Indian textile exports were expected to be to the tune of $13 billion, registering a growth of about eight per cent. Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
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