Rapidly growing economies such as Vietnam, Ethiopia and the Philippines are also presenting partnership opportunities with the Indian industry, says WTC Mumbai
India has USD 4 billion worth of export potential with the developed country Japan in sectors such as medicaments and marine products, which will also showcase potential collaboration in trade and investment opportunities, according to MVIRDC World Trade Centre (WTC) Mumbai analysis.
In its World Trade Expo and its impact on India’s foreign trade analysis, WTC Mumbai stated that rapidly growing economies such as Vietnam, Ethiopia and the Philippines are also presenting partnership opportunities with the Indian industry.
The industry body suggested that India can explore value-addition opportunities in natural resource-rich countries such as Zambia, Argentina, South Africa and Ecuador that are participating in the expo.
Talking about India, it stated that industrial states such as Maharashtra, Gujarat and industrialising states such as Madhya Pradesh, Odisha and Rajasthan are showing their industrial policies and economic potential.
The fourth edition of the World Trade Expo is expected to connect Indian businesses to trade missions and industry from nearly 30 countries. Of these, 14 countries from Asia, Africa and Latin America will present trade and investment opportunities in their countries
India has untapped export potential worth USD 23.6 billion in these 14 countries. The sectors that hold maximum export potential are pharmaceuticals, automobiles, agro and marine products and Metal and motel products such as Iron and steel, and aluminium, it added.