In the wake of the current turmoil in Greece, Indian exporters need to look beyond eurozone and explore opportunities in emerging markets such as Latin America, CIS nations and Africa, Pravir Kumar, Director General of Foreign Trade (DGFT) said.
" Distribute risks and diversify elsewhere," he told an Open House Meet attended by over 200 exporters. The session was organised by CII Eastern Region and the Federation of India Export Organisation (FIEO) here today. The government will back this move, he said, adding that
Indian exporters will also do well by focusing on the countries with which India has a free trade agreement (FTA).
The volume of Indian exports in eurozone is 18-19 percent of the country’s total exports. Exporters have been asked to go to Laitin America, CIS nations and Africa.
Sanjay Budhia, Chairman, CII National Committee on International Trade Policy & Exports, said that achievements in export of services, specifically IT (Information Technology) and business services and huge remittance receipts alone are not capable to bridge the trade-gap. EOM
