India’s Union Minister for Commerce & Industry, Shri Kamal Nath, has said in a statement that India is poised to double its share of foreign trade to reach 1.5% of world trade by 2009. Speaking at a meeting with visiting Norwegian Minister for Trade and Industry, Mr. Borge Brende, he said that India was committed to pursuing the economic reforms in an ‘inclusive manner’ so that the benefits percolated to all sections of the society.
“The National Foreign Trade Policy of 2004-09 has taken an integrated approach to serve as a generator of economic growth and employment to help achieve our development objectives”, the Minister said.
The bilateral trade with Norway had registered a growth rate of over 100% last year touching $340 million. Indian exports to Norway in the last year amounted to about $76 million and included commodities like RMG (ready-made garments) cotton including accessories, cotton yarn and fabrics, handicrafts, leather & leather goods and cashew.
