Exporters in India should be looking to increase their presence in the Latin America and Caribbean markets and in Africa, according to the Confederation of Indian Industry (CII). The industry body has also suggested that there needs to be a greater focus on certain manufacturing sectors: textiles, leather, gems, jewellery and engineering.
In a policy paper called India Export Series -Sectorial Analysis, CII argues that India needs to aim to be among the top three exporters in the globe in these particular manufacturing sectors.
To achieve this, a number of policies are needed, including greater investment in ports and freight lines and improvements in the scale of production.
As small and medium-sized enterprises (SMEs) dominate these industry areas, the CII also calls for regular guidance and support for SMEs to help boost their efficiency.
In terms of Indian exporters' geographic reach, CII calls for a "strategic push” in Latin America and Africa. India reaches 3.5% of Africa's import demand and only 0.7% of import demand of Latin America. CII argues it is possible to easily double these levels.
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