Move faster in global market essential for success - CII

22 Oct '07

4 min read

Ms Patricia R Francis, Executive Director, International Trade Centre, Geneva, said, "Access to information on new markets, technology transfer, positioning in the global value chain and the ability to move faster in the global market are essential for success."

She said this while addressing the Confederation of Indian Industry (CII) national conference on "Export Development and Inclusive Growth – Taking Exports to US$200 billion," by 2009.

I India's exports have increased substantially from US$17.9 billion in 1991-92 to $126.24 billion in 2007, registering an annual increase of 37.5%.

Ms Francis said this was an impressive growth and added that wealth generated by trade can help in social protection only by raising the standards of livelihood in a sustainable manner.

Praising India's role in redefining the global economic growth, Ms Francis said that in the coming years, the BRIC nations would contribute to about 50% of global economic growth. She assured CII of all help in attaining the export target of $200 billion by 2009 through inclusive growth.

Speaking about the International Trade Centre's (ITC) role in pushing global trade, she said ITC's primary aim is to assist enterprises by helping to make the policy environments more friendly for export business by strengthening the institutions which provide services to exporters and by helping small export enterprises become more competitive.

She said ITC was moving towards providing value-added services with CII's help and added that the ITC-CII partnership will provide tools of export development by helping SMEs reach out to global markets.

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