Objective and achievement of Focus:LAC Programme

OBJECTIVE OF “FOCUS:LAC” STRATEGY

Considering the potential of the market in the Latin American region, an integrated programme “Focus:LAC” was launched in November 1997 by the Commerce Ministry. The Programme has been reviewed from time to time and extended up to March 31, 2008. This programme aims at : 

·        Sensitizing the organizations viz. Export Promotion Councils, Chambers of Commerce & Industry, EXIM Bank, ECGC etc. involved in trade promotion efforts.

·        Granting various incentives to Indian exporters and launching of export promotion measures 

·        Focussing on the Latin American region, with added emphasis on the nine major trading partners of the region.

·        Focussing on the following major product groups for enhancing   India’s exports to the Latin American region: 

--  Textiles including ready-made garments, carpets and        handicrafts

               --  Engineering products and computer software

                   --   Chemical products including drugs/pharmaceuticals 

EFFECTIVENESS OF THE STRATEGY 

The Latin American region comprises  of following 44 South American, Central American and Caribbean countries. 

1.                 Argentina	2.                 Brazil
3.                 Chile	4.                 Mexico
5.                 Paraguay	6.                 Uruguay
7.                 Venezuela	8.                 Bolivia
9.                 Colombia	10.             Ecuador
11.             Peru	12.             Costa Rica
13.             El Salvador	14.             Guatemala
15.             Honduras	16.             Nicaragua
17.             Barbados	18.             Belize
19.             Guyana	20.             Jamaica
21.             Trinidad & Tobago	22.             Antigua
23.             Dominica	24.             Grenada
25.             Montserrat	26.             St. Kitts-Nevis-Anguilla
27.             St. Lucia	28.             St. Vincent
29.             Bahamas	30.             Bermuda
31.             British Virgin Islands	32.             Cayman Islands
33.             Cuba	34.             Dominican Republic
35.             Falkland Islands	36.             French Guiana
37.             Guadeloupe	38.             Haiti
39.             Martinique	40.             Netherlands Antilles
41.             Panama	42.             Suriname
43.             US Virgin Islands	44.             Turks and Caicos Island

  This region accounts for about 5% of world trade. However, the region is not a significant trading partner of India. Latin America has a share of 2.88 % in India’s global exports and a share of 1.69 in India’s global imports. In the last decade, our trade with the LAC region has been showing a continuously rising trend. India’s exports to the region have gone up from US$ 478.74 million in 1996-97 to US$ 2956.01 million in 2005-06, registering a growth of around 517% over a decade.