New Delhi, Oct 7 (IANS) Delegations from 11 countries of the Latin America and Caribbean (LAC) region will be participating in the 6th CII India-Latin America and Caribbean Conclave here on October 8-9, a statement said.
The LAC Conclave, organized by the Confederation of Indian Industry in partnership with the commerce and industry ministry’s commerce department and the external affairs ministry, would be addressed by Costa Rican Vice President Ana Helena Chacon Echeverria and ministers and officials from the LAC region.
“India-LAC trade has multiplied by 10 times in the last 10 years and we believe that trade can go up from close to $50 billion to $350 billion in the next 10 years. This edition of the India-LAC Conclave builds upon the many areas of trade and investment opportunity identified in the previous such conclaves,” said CII director general Chandrajit Banerjee.
India’s aggregate trade with LAC region expanded from $5.2 billion in 2005 to $49.1 billion in 2014. India’s exports went up from $2.8 billion to $15.5 billion, a jump of more than five times, while imports from the region increased by 14 times to $33.6 billion.