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- By Parinda News Bureau, April 08, 2006, 11:56 IST
India 's merchandise exports have increased by 26% year on year, for two years now. “From 63 billion dollars in 2004, our exports this year have touched the magic figure of 101 billion dollars. Along with our Services imports & exports, our total economic engagement with the world tops 350 billion dollars”, Shri Kamal Nath, Union Minister of Commerce and Industry said at the Convocation function of the Institute of Management Technology (IMT), Ghaziabad today. Sir Ratan Tata also participated in the Convocation.
Referring to the ongoing changes in world demography with a greying of populations in the developed world, Shri Kamal Nath said: “The workforce – not just labour, but the skilled and technologically qualified manpower - would come from developing countries. This is an opportunity for India , which in ten years will have a workforce (not population, but workforce) larger than even China . With a right blend of IT, biotech and pharma manufacturing, topped up by qualified management, India could be the key destination for knowledge process outsourcing (KPO) and engineering process outsourcing (EPO) along with business process outsourcing (BPO)”.
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