Obama’s big picture recovery plan depends on a push to double exports in the next five years.
Well, we better hope that France wants to buy a lot of cars… because China has already expressed anger at the US export push, and India is about to enter the world market as a huge competitor.
Calling upon all exporters to generate vision and courage to sustain exports post-recession, Commerce and Industry Minister Anand Sharma said India has set a target of doubling its exports by 2014.
Speaking at the Exports Promotion Council for EOUs and SEZs (EPCES) awards here this evening, the minister said the exporters and the EPCES must not wait for recovery in global market post-recession as it may take time.
‘Recovery differs from continent to continent and from nation to nation. It is not uniform and there is going to be a global shortage in global trade,’ he said.
For Indian exports to withstand pressure, the minister said it would require vision and courage, however, he did say that Indian exporters had lived upto expectation. ‘We were down by 39.4 per cent in May 2009 but by October we moved to the positive periphery, I am optimistic that we are now in a phase of consolidating our exports. This year should be better as we have made market diversification by taking in 41 new world markets.’ He added that after sectoral reviews, two more markets were added that of China and Japan, and said now it is upto the exporters to sustain or increase the exports.