India emerges as a force in manufacturing exports

New Delhi, Apr 18 (UNI) Comerce and Industry Minister Kamal Nath launched the United Nations ESCAP's annual Economic and Social survey of Asia (ESSA) and the Pacific 2007 at a function held here today.

Releasing the survey, Mr Nath said "the publication finds that apart from the remarkable performance in IT services, India is rapidly emerging as a force in manufacturing exports, with capital-intensive products featuring prominently".

He said this year's survey drew particular attention to the ascendancy of India of economic powerhouse. UN-ESCAP's analysis indicates that India's contributon to global growth has nearly doubled in the last two decades. As a result, India is now the world's fourth largest economy in terms of purchasing power parity.

" Furthermore, the enormous trade potential between India and China is highlighted as one of the key phenomena in coming years.

There has already been a four fold increase in trade since 2002 and the comparatively low absolute value promises dramatic room for future increase", Mr Nath observed.

On this occation UN, Under Secretary General Kim Hak-Su and Executive Secretary of UN-ESCAP made a presentation of the survey.

UNI