India's exports to go up $500 bln by 2013: CII

New Delhi, Apr 8 (UNI) The country's exports can go upto 500 billion dollars in the next five years, if the government gives more incentives to textiles, gems and jewellery, leather and engineering firms, a report said today.

''India's exports is expected to reach 500 billion dollars by 2013, if the past growth trend continues,'' the industry chamber CII said in a report.

The chamber said India needs to be among the top three exporters in these four sectors globally, which accounts for more than 50 per cent of the country's current export basket.

India's exports for the fiscal year 2007-08 are expected to be between 155 billion dollars and 160 billion dollars, it continued.

Just ahead of the trade policy due on Friday, the chamber said the export strategy should focus on the fast growing market such as Latin America, the Carribbean and Africa, as India's exports to these countries are very low.

India's exports stands at just 3.5 per cent of Africa's total import demand and just 0.7 per cent of import demand of Latin America and Carribbean countries.

UNI SBA MP US2033