FIEO unveils product strategy for 36 top performing products to add $65 bn in next 3 yrs
Updated: Oct 08, 2015 11:19:19am
New Delhi, Oct 8 (KNN) Out of the top 100 products of India’s exports basket at 6 digit tariff lines, FIEO has identified 36 products, using certain parameters, which have showed a CAGR of 21 per cent in India’s exports during 2010-14 (as against overall exports CAGR of 9.56 per cent).
The six parameters used by the Federation of Indian Export Organisations (FIEO) included - Positive Revealed Comparative Advantage (RCA); higher exports growth than India’s average exports growth in 2010-2014 (Calendar year wise) in such products; higher world-wise import growth than World’s average imports growth in 2010-2014 (Calendar)
The 36 products showed a CAGR of 21 per cent in India’s exports during 2010-14 (as against overall exports CAGR of 9.56 per cent), the apex body for exporters said in a release on Wednesday.
The CAGR of World’s Imports for such products was 16.63 per cent in the same period (as against overall global imports CAGR of 5.3 per cent in the same period).
The total exports of these 36 products from India in 2014 (Calendar year) was USD 45.58 billion, close to 14 per cent of our total exports. The World Imports for these 36 products in 2014 stood at USD 700.45 billion. India’s share in World Exports for these 36 products was thus 6.5 per cent in 2014 as against our overall share of about 1.7 per cent in World Merchandise Exports.
“FIEO expects even the current CAGR of over 16 per cent will take their imports to USD 1100 billion by 2017. If India can increase its share from 6.5 per cent to 10 per cent in next three years, we can take our exports from USD 45.58 Bn to over USD 110 billion in next 3 years,” added the release.
An additional USD 65 billion to the exports sector can be added by these 36 products at 6 digit tariff lines observed FIEO.
FIEO has also sought for consultation with products specific Export Promotion Councils and other organisations to understand the supply side challenges in meeting such targets and devising product specific strategy or a product market matrix strategy to boost exports. (KNN Bureau)
The six parameters used by the Federation of Indian Export Organisations (FIEO) included - Positive Revealed Comparative Advantage (RCA); higher exports growth than India’s average exports growth in 2010-2014 (Calendar year wise) in such products; higher world-wise import growth than World’s average imports growth in 2010-2014 (Calendar)
The 36 products showed a CAGR of 21 per cent in India’s exports during 2010-14 (as against overall exports CAGR of 9.56 per cent), the apex body for exporters said in a release on Wednesday.
The CAGR of World’s Imports for such products was 16.63 per cent in the same period (as against overall global imports CAGR of 5.3 per cent in the same period).
The total exports of these 36 products from India in 2014 (Calendar year) was USD 45.58 billion, close to 14 per cent of our total exports. The World Imports for these 36 products in 2014 stood at USD 700.45 billion. India’s share in World Exports for these 36 products was thus 6.5 per cent in 2014 as against our overall share of about 1.7 per cent in World Merchandise Exports.
“FIEO expects even the current CAGR of over 16 per cent will take their imports to USD 1100 billion by 2017. If India can increase its share from 6.5 per cent to 10 per cent in next three years, we can take our exports from USD 45.58 Bn to over USD 110 billion in next 3 years,” added the release.
An additional USD 65 billion to the exports sector can be added by these 36 products at 6 digit tariff lines observed FIEO.
FIEO has also sought for consultation with products specific Export Promotion Councils and other organisations to understand the supply side challenges in meeting such targets and devising product specific strategy or a product market matrix strategy to boost exports. (KNN Bureau)
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