By IANS,
New Delhi : The Federation of Indian Export Organisations (FIEO) Monday said Indian exports, helped by better infrastructure and emerging markets like Africa and Latin America, could reach $500 billion by 2014-15.
“The government should identify the requirement of investment to meet the milestone. Investment would be required in roads, ports, airports, power and warehousing segments,” said Ramu S. Deora, president, FIEO.
According to him, reaching the $500 billion target would require infrastructure at par with major exporting countries like China, South Korea and Japan.
“We need to have better roads, like we have in China and other major exporting countries, once the infrastructure is in place, this would help in having better linkages and reducing bottlenecks to exports,” Deora said.
With the world trade growing at its highest rate of 13.5 percent in the last 50 years in 2010, Deora said he was hopeful that the country would be able to export more by diversifying the destinations of exports.
“The major chunk of the $500 billion exports would come from the emerging markets of southeast Asia, Africa, Latin American countries and Commonwealth of Independent States,” Deora said.