Spotlight

New Delhi, 29 January 2007

INDIA IMPROVES RANKING IN WORLD MARKET

NEW DELHI, January 30 (INFA): India has considerably improved its ranking in the world market as an exporter.  Exports as a share of GDP is currently more than 13 per cent, compared with a share of only 6 per cent in 1990-91.

The most attractive in the world market are India’s merchandise and the service sector, whose exports together now account for about 20 per cent of the GDP, which is more than the share of agriculture in the GDP.

Exports crossed the landmark figure of US$ 100 billion to reach US$ 103 billion during 2005-06.  During the current year 2006-07, exports are expected to comfortably reach the target of US $125 billion.

A significant feature of export performance is that the export basket is fairly diversified.  Secondly, some of the skill intensive and technology intensive exports have recorded a high growth, reflecting the maturity and depth of the growth process. Thirdly, with rising investments in the export sector and its further integration in the world market, India has emerged as an important sourcing hub for labour intensive products such as textiles and auto parts.

In the pharmaceutical sector it holds the lion’s share of the world’s contract research business and has a strong competitive advantage in clinical trials and research, backed by its vast body of scientists and researchers.

Finally, there is a strong integration of the export sector with the domestic market, resulting in growing synergies between the two, leading to generation of additional economic activity and employment.

The growth performance of exports has been an outcome of a conscious and concerted effort on the part of the Government, bring down transaction costs and facilitate trade.

The vision and the roadmap provided by the Foreign Trade Policy (2004-09) for a five- year period with clearly enunciated objectives, strategies and policy initiatives has been instrumental in putting exports on a higher growth trajectory.

For the first time in the history of planning, doubling of exports in less than five years is being seen as an achievable target.

What is even more significant is that exports have been conceived of as an engine for generating additional economic activity for employment generation with special focus on rural and semi-urban areas.---INFA

CAREER AWARENESS DRIVE

HYDERABAD, January 30 (INFA): Incredible but true. Over 26,000 students thronged the Career Awareness and Recruitment Drive at Osmania University, Hyderabad, recently.

The drive, it may be added, was conducted by the AP State Council of Higher Education.

Computerized results will be announced soon.  Students were put through a written test followed by group discussions and interviews.---INFA