Rajya Sabha

As per the information furnished by Reserve Bank of India, the percentage of India's exports catering to dollar dominated countries was 87.6% for the period April 1, 2007 to 31st March 2008.

India's foreign trade strategy is broadly based on focus-product and focus-country approach, thereby to promote 'Brand India' abroad. In order to diversify destinations of Indian exports, the government has initiated various region-specific integrated programmes like "Focus-LAC (Latin American & Caribbean Countries). "Focus-Africa", "Focus-CIS (Commonwealth of Independent States)" etc. besides setting up of joint forum on trade and investment for increasing bilateral trade, joint commissions on trade, working out Comprehensive Economic Cooperation Agreement (CECA), Regional Free Trade Agreement and Preferential Trade Agreement under SAFTA (South Asian Free Trade Area) for SAARC (South Asian Association for Regional Cooperation) countries. In order to boost exports and to provide an environment conducive to trade, apart from government to government discussions, the government encourages business to business cooperation and participation of Indian exporters in international exhibitions and fairs. Economic diplomacy has equally been emphasised along with political diplomacy. This has resulted in exploration and improvement in exports to new and potential dynamic markets.

This information was given by Shri Jairam Ramesh, Minister of State for Commerce, in a written reply in the Rajya Sabha today.

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RJ/MRS

Export diversification: government strategy broadens market access through focus-country programmes and trade agreements. India's trade policy advances export diversification via a focus-product and focus-country approach promoting Brand India, supported by region-specific programmes for Latin America, Africa and the CIS, business-to-business promotion, international exhibitions, economic diplomacy, and trade instruments such as bilateral forums, joint commissions, Comprehensive Economic Cooperation Agreements, and regional and preferential trade arrangements to expand market access and reduce reliance on dollar-dominated markets.