May 11 – India is looking into relying more on developing countries to offset slowing export demand from the United States, Japan and Europe markets hit by the global downturn.
Currently, 40 percent of India’s exports go to developing countries and the oil-producing countries like UAE are also strong buyers.
The Federation of Indian Export Organizations (FIEO) has already begun facilitating business meetings and roadshows for Indian products in developing countries. Many Indian exporters joining in trade shows in China, Hong Kong and Bulgaria have reported good orders.
Five percent of India’s exports go to the South Asian Association for Regional Cooperation. countires in Asia, but not a part of SAARC recieve 29 percent, while Africa gets 7 percent. Countries that are part of the Organization for Economic Cooperation and Development buy an estimated 38 percent of the country’s exports.
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