India beats China in export growth rate: WTO
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India beats China in export growth rate: WTO

New Delhi: India has overtaken China in exports growth rate, recording an increase of 16.1 per cent in 2011, topping the list of all major trading countries in the world, says a WTO report

"India had the fastest export growth among major traders in 2011, with shipments rising 16.1 per cent. Meanwhile, China had the second-fastest export growth of any major economy at 9.3 per cent," World Trade Report 2012 of WTO said.

China had topped the list in 2010 with shipment growth rate of 28.4 per cent, while India recorded an increase of 22 per cent. According to experts, the Indian government's and exporters' endeavour of diversification of export markets have benefitted the country's shipments.

"Mainly the diversification of markets to Middle East countries, South East Asia and China has yielded good results for Indian exports," said K.T. Chaco, director of the Indian Institute of Foreign Trade (IIFT). Federation of Indian Export Organisations (FIEO) president Rafeeq Ahmed also said market and product diversification strategy have yielded positive results.

After the economic slowdown in the India's traditional export markets - the US and Europe -- the government had extended incentives to exporters to explore new markets, including in regions like Latin America and Africa.
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