India targets 50bn dollars trade with Latam by 2014; Latam assessing ‘China euphoria’
Latin America trade with India could go up to 50 billion dollars by 2014 on the back of projected high economic growth in both the regions, said R. Viswanathan, India's ambassador to Argentina, Uruguay and Paraguay.
”The region (Latin America) is going to be a regular source of imports of crude oil, edible oil, minerals, timber and other products which India needs to sustain its high growth. Agribusiness, food processing, energy and mining are the growth areas of Latin America and the Indian companies should target them for trade and investment“ said the top Indian official.
At present, the Latin American region accounts for 4% of India's trade. Two-way trade between India and Latin America was recorded at 23 billion dollars in 2010. It included 9 billion of India's exports to Latin America and imports of 14 billion.
India targets to increase its exports to Latin America to 20 billion by 2014.
Viswanathan said the region would also offer in the coming years great investment opportunities to Indian companies. ”The 2014 World Cup, 2016 Olympics and the 270 billion dollars investment in hydrocarbons by Brazil are the big ticket projects offering unmissable opportunities for Indian companies“.
India is diversifying its product basket and foreign trade market to shield its economy from uncertainties in Europe and the US. It has increased economic engagement with Africa, Latin America and the Caribbean.
As part of its market diversification program, the Indian government is offering various incentives to boost exports to Latin America and the Caribbean.
”There is a unique opening for India at this time. The Latin Americans are disillusioned with Europe and US who are facing crisis after crisis. They are reassessing the China euphoria after their industries and jobs have been hit hard by the flood of cheap imports,” said Viswanathan.
India has entered into preferential trade agreements (PTAs) with Chile and the Mercosur bloc, comprising Argentina, Brazil, Paraguay, Uruguay and Venezuela.
Viswanathan said Latin Americans were attracted by the large, growing, democratic and non-threatening India which faces political and developmental circumstances similar to theirs.
“They see the value addition of Indian investment to their economies, industries and especially human resource development by the Indian IT and BPO companies who employ 20,000 Latin American youth,” he said.
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like invasion of UK starting with doctors/nurses/students...etc......!!
I have absolutely no idea what you are talking about.
..some of 42 % medical students and doctors in the British National Health Service are of Indian/Pakistani/Bengladeshi origins........
any need of a translator ??
obviously you are not living in UK....!!
Yes, and they work in the UK because they get more money and (in their words) a better standard of living than they ever could in India.
Still don't understand the relationship to the topic though, or are you saying that Argentina needs nurses and doctors?
He makes a joke of doctors and nurses from these countries, but says nothing of British doctors and nurses that take their expertise abroad,
and save people, but of course perhaps the Argies don’t have foreign doctors and nurses, perhaps the likes of geo, uses witch doctors,
Very childish geo, very childish.
These people do a bloody great job,
Unlike some we could mention
[Land mines that kill innocent civilians.
Why go and find a useless bit of information to justify argentines laying of land mines,
To little, to late .
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