Latin America emerging as a handicrafts market

Despite of global economic slowdown and reduction in imports to many regions, Latin America has emerged as a major market for Indian exports including handicrafts. India’s total exports to this regions has crossed $1 billion mark in 2002 and in the next two years it is expected to double to $2 billion mark.

While addressing exporters at the Export Promotion Council for Handicrafts, the Indian Ambassador to Venezuela R. Viswanathan said ‘$2 billion of exports to Latin America is an achievable target in the next two years’. Stating that Venezuela was the gateway to Latin America, Viswanathan said that ‘Venezuelans have started realising India’s export capabilities and the advantages of doing business with India’.