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    B - International Business-02 - How Big Is The Business.

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    Jimmy Roses
    India's exports have grown substantially in the past four years, exceeding expectations. Exports grew from $63 billion in 2004 to over $165 billion in 2008-2009, representing an average annual growth rate of 23%. Total merchandise trade is projected to reach nearly $400 billion for 2008-2009, accounting for 1.5% of world trade. This increased trade has also created over 136 lakh new jobs. Going forward, targets are set to increase exports to $200 billion by 2009-2010 and achieve a 5% share of world trade by 2020.

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    B - International Business-02 - How Big Is The Business.

    Uploaded by

    Jimmy Roses
    34 views3 pages
    India's exports have grown substantially in the past four years, exceeding expectations. Exports grew from $63 billion in 2004 to over $165 billion in 2008-2009, representing an average annual growth rate of 23%. Total merchandise trade is projected to reach nearly $400 billion for 2008-2009, accounting for 1.5% of world trade. This increased trade has also created over 136 lakh new jobs. Going forward, targets are set to increase exports to $200 billion by 2009-2010 and achieve a 5% share of world trade by 2020.

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    B- International Business-02 - How Big is the Business.

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    India's exports have grown substantially in the past four years, exceeding expectations. Exports grew from $63 billion in 2004 to over $165 billion in 2008-2009, representing an average annual growth rate of 23%. Total merchandise trade is projected to reach nearly $400 billion for 2008-2009, accounting for 1.5% of world trade. This increased trade has also created over 136 lakh new jobs. Going forward, targets are set to increase exports to $200 billion by 2009-2010 and achieve a 5% share of world trade by 2020.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    34 views3 pages

    B - International Business-02 - How Big Is The Business.

    Uploaded by

    Jimmy Roses
    India's exports have grown substantially in the past four years, exceeding expectations. Exports grew from $63 billion in 2004 to over $165 billion in 2008-2009, representing an average annual growth rate of 23%. Total merchandise trade is projected to reach nearly $400 billion for 2008-2009, accounting for 1.5% of world trade. This increased trade has also created over 136 lakh new jobs. Going forward, targets are set to increase exports to $200 billion by 2009-2010 and achieve a 5% share of world trade by 2020.

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    FOREIGN TRADE AND EXIM POLICY

    – 2009-2014
    I am pleased to say that our achievements have exceeded
    our expectations. Not only have we fulfilled our promises in
    substantial measures but we have achieved these
    remarkable results in just four years, instead five years.

    In 2004 our Exports stood at a little over US$ 63 Billion. In


    2007-08 they have exceeded US$ 155 Billion and in 2008-09
    it has exceeded to US$ 165 Billion. Our exports are not just
    double what they were 4 years ago but 2.5 times of that. We
    have managed an average cumulative annual growth rate of
    23% year on year, way ahead of the average growth rate of
    International Trade.

    Our total merchandise trade-exports and imports together


    will be almost US$ 400 Billion this year, accounting for
    nearly 1.5% of world trade shares.

    If the trade in services is added to this our commercial


    engagement with the world would be in the region of US$
    525 Billion.

    On the issue of employment it is our estimate that during the


    last 4 years increased trade activity has created 136 Lakh
    new jobs. I have always maintained that exports are not just
    about earning foreign exchange but about boosting our
    manufacturing sector, creating large scale economic activity
    and generating fresh employment opportunities.
    What is more remarkable about all these achievements is
    that they have been accomplished in the face of appreciation
    of the rupee by more than 15% in last one year, High interest
    rates, spiraling oil prices, withdrawal of some GSP benefits
    to India by other countries and general international
    economic slowdown of our major trade markets. In spite of
    all this our exporters have shown great resilience, for this,
    they deserve our Congratulations.

    Ministry of Commerce and Industry.


    Shri Kamal Nath
    And Mr. Anand Sharma

    And that is why I am here to discuss International Business.


    Compiled by
    Prof. VP Singh

    TARGETS:

    - Focus Market to Russia and other Markets


    like Latin American countries
    - Export Target fixed at US$ 200 Billion for
    2009-2010 – Let’s achieve it.
    - ECGC ( Export Credit Guarantee Corporation of
    India)
    - FIEO - IIFT
    - ITPO - STC
    - MMTC - SEEPZ
    - Seas - Types of Boards / Councils
    - Target to achieve 5% share of World trade
    by the year 2020.
    The task seems to be difficult, but the prize
    is great. If we achieve it, India will once more
    become the trading superpower it was two
    centuries ago.

    ------------------------

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