India Emerges as a force in Manufacturing Exports - Kamal Nath launches Escap’s Annual Ecoomic and Social Survey of Asia

Shri Kamal Nath, Minister of Commerce & Industry, launched the UN-ESCAP’s annual Economic and Social Survey of Asia and the Pacific 2007 at a global media launch here today.Releasing the Survey, the Minister noted that "the publication finds that apart from the remarkable performance in IT services, India is rapidly emerging as a force in manufacturing exports, with capital-intensive products featuring prominently".

Speaking on the occasion, Shri Kamal Nath said he was pleased to note that this year’s survey drew particular attention to the ascendancy of India of economic powerhouse. UN-ESCAP’s analysis indicates that India’s contribution to global growth has nearly doubled in the last two decades. As a result, India is now the world’s fourth largest economy in terms of purchasing power parity.

"Furthermore, the enormous trade potential between India and China is highlighted as one of the key phenomena in coming years. There has already been a four-fold increase in trade since 2002, and the still comparatively low absolute value promises dramatic room for future increase", he observed.

Mr. Kim Hak-Su, Under Secretary General of the United Nations and Executive Secretary of UN-ESCAP, made a presentation of the Survey and Ms. Shalini Dewan, Director, United Nations Information Centre, also spoke on this occasion.

Source : Press Information Bureau

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