India's exports to Latin America, Africa cross USD 20 bn

New Delhi, Dec 7 : India's exports to the Latin American and African region stood at USD 20.58 billion last fiscal, Minister of State for Commerce and Industry Jyotiraditya Scindia said Monday.

"India's exports to the Latin American region increased from USD 2.16 billion in 2004-05 to USD 6.01 billion in 2008-09, registering a growth of about 178 percent," Scindia told the Lok Sabha.

"Likewise, our exports to Africa increased from USD 5.6 billion in 2004-05 to USD 14.57 billion in 2008-09, registering a growth of about 160 percent."

He also said the government had taken steps to expand the existing India-Chile Preferential Trade Agreement (PTA) and India-Mercosur (a bloc of Brazil, Argentina, Paraguay and Uruguay) Trade Agreement to "enhance our exports to the Latin American region".

Negotiations for a PTA with South Africa Customs Union (SACU), comprising Botswana, Lesotho, Namibia, South Africa and Swaziland, were also on, Scindia added.