Will others learn from India’s logic of not ignoring newer markets?
India’s clientele is also geographically diversified. It strategically eyed China and other developing countries in West Asia as its prospective consumer markets. As a result, when almost all the countries were suffering, India more than compensated any possible loss by dealing with emerging economies and mature economies alike. Today, China is India’s largest trade partner; trade value between the two nations touched a whopping $37.9 billion in 2007.
For now, the chance of India achieving the $200-billion export target set for 2008-09 looks slim, for that would call for India to grow at a stupendous 25% y-o-y (in these recessionary times?!?). Nevertheless, these are times to sustain and not really to grow empirically!
India’s clientele is also geographically diversified. It strategically eyed China and other developing countries in West Asia as its prospective consumer markets. As a result, when almost all the countries were suffering, India more than compensated any possible loss by dealing with emerging economies and mature economies alike. Today, China is India’s largest trade partner; trade value between the two nations touched a whopping $37.9 billion in 2007.
For now, the chance of India achieving the $200-billion export target set for 2008-09 looks slim, for that would call for India to grow at a stupendous 25% y-o-y (in these recessionary times?!?). Nevertheless, these are times to sustain and not really to grow empirically!
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
and Arindam Chaudhuri (Renowned Management Guru and Economist).
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