India may target 5 pc share in int'l trade by 2020

TADA: India is expected to target 5 per cent market share in the International trade by the year 2020 from the current 1.5 per cent, a senior official said.

"In the context of exports, India's contribution is presently 1.5 per cent in the international trade and we have set a target of achieving 5 per cent by 2020," Export Promotion Council for EOU and SEZ Units Director General L B Singhal said at the ground breaking ceremony of Sree City, a Special Economic Zone, near here.

And added "A significant (export share) of which will be contributed by Special Economic Zones". In the last two years alone about Rs 73,000 crore of investments have been made in India alone, he said, adding "Out of the said amount Rs 66,000 crore has been contributed to India's exports and around 3,30,000 employments have been made".

About SEZs in the country Singhal said 462 SEZs were approved in India out of which 225 SEZs have been notified.
The main objective of the SEZs is to increase exports, generate more employment opportunities, adequate creation of infrastructure, he said.

He expressed hope that the presence of Chennai and Tirupati airports close to Sree city would make many international companies set up their venture here.