The market must work towards along with the concerned stakeholders to generate demand at all level of development and value chain, Union Minister for Commerce and Industry Suresh Prabhu said In Delhi on Thursday ASSOCHAM 5th India Luxury Summit, 2017.

The Minister said that the ministry had been engaging with business associations and governments in East Asia, Europe,Latin America to create market for Indian products.

Commenting on the country's relation with other countries, Prabhu said that India and Russia bilateral trade is worth 8 billion only, so the government of both countries had been working on strategies to foster the economic relationship. The minister said that the ministry had been trying to make business plan for different markets based on scientific research to increase exports.

Making comparisons with China he said that the Chinese tourists are the highest spending tourists and demand for luxury products is at its highest today in China which was one of the poorest societies 35 years ago. (KNN/AG)