Exports to US may top $300 B by 2015: CII

Monday, 25 October 2004, 07:00 Hrs
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NEW DELHI: India's exports of manufactured products to the United States may touch $300 billion by 2015, an annual growth of 17 per cent as against the "historic growth" of 11 percent, according to a joint study on manufacturing by the Confederation of Indian Industry (CII) and McKinsey.

"'Made in India' is all set to become the next big manufacturing export story after services," claims the study released on Saturday.

According to the latest figures available, India's manufacturing exports to the US are languishing at $40 billion.

The study noted that the global trend to manufacture and source products from low-cost countries (LCCs) is likely to gather steam over the next 10 years, particularly in skill intensive industries, where India has a significant edge.

If India manages to raise its exports to the US to $300 billion by 2015, it will be commanding a share of nearly 3.5 per cent in the world manufacturing trade.

In addition, it will create 25-30 million jobs in manufacturing by 2015 and two to three times this number in the allied sectors like construction, education and entertainment due to the multiplier effect.

"The aspiration, though ambitious, is attainable," says the study.

Source: IANS
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