651 millones de dólares frente a los 404 millones de China en 2016

(*)By R. Viswanathan - For those who think that Latin America is too far and cost of freight is too high and therefore the region should be less important for India’s trade, here is the eye opener from the 2016-17 (April-March) statistics of the Commerce Ministry of India.

 In 2016-17, India exported more to Mexico (3.5 billion dollars) than to neighbors such as Thailand (US$ 3.1bn), Myanmar (1.7bn) and Iran (2.4bn) or traditional trade partners Russia-1.9bn and Canada-2bn. India’s exports to Colombia ( US$ 787m) were more than the exports to some West European countries such as Austria, Ireland or Scandinavian countries. Guatemala had imported (US$ 243m) more from India than some Central Asians and East European countries.

For those who think that it is very difficult for India to compete with the Chinese exports, here is another piece of information: India beat China in export of pharmaceuticals to Latin America. India’s exports were

(*)Por R. Viswanathan - Para aquellos que piensan que América Latina está demasiado lejos y el costo del flete es demasiado alto y, por lo tanto, la región debería ser menos importante para el comercio de la India, aquí está la revelación de 2016-17 (abril- marzo) estadísticas del Ministerio de Comercio de la India.

 En 2016-17, India exportó más a México (3.500 millones de dólares) que a vecinos como Tailandia (US$ 3.100 millones), Myanmar (1.700 millones) e Irán (2.400 millones) o socios comerciales tradicionales Rusia -1.900 millones y Canadá- 2 mil millones Las exportaciones de la India a Colombia (US$ 787 millones) fueron superiores a las exportaciones a algunos países de Europa occidental como Austria, Irlanda o los países escandinavos. Guatemala había importado (US$ 243 millones) más de la India que algunos países de Asia Central y Europa del Este.

Para aquellos que piensan que es muy difícil para India competir con las exportaciones chinas, aquí hay otro dato: India superó a China en exportación de productos farmacéuticos a América Latina. Las exportaciones de la India fueron

651 million dollars in comparison to China’s 404 million in 2016.

In fact, in the last five years, India has been exporting more pharma to Latin America than China. What is even more interesting is the fact that India imports bulk of its raw materials from China, converts them into finished formulations and exports them.

India’s trade with Latin America in 2016-17 was 30 billion dollars of which export was 10.4 billion and import 19.6 bn.

Mexico was the largest destination of India’s exports with 3.5 billion. Export to Mexico has increased by 21% from last year.

Latin America was the leading destination of India’s vehicle exports with a share of 23% of India’s global exports. Mexico continued to be the main buyer of Indian cars with US$ 1.6bn accounting for 25% of India’s global exports. Vehicle exports to Mexico have been steadily increasing in the last three years and the increase from last year was an impressive 39%.

The collapse of TransPacific Partnership (TPP) following the withdrawal of US by the Trump administration is good for India. The TPP had extra clauses for patent protection going beyond the WTO standards and this would have affected India’s generic medicine exports to Latin America.

651 millones de dólares frente a los 404 millones de China en 2016.

De hecho, en los últimos cinco años, India ha estado exportando más productos farmacéuticos a América Latina que China. Lo que es aún más interesante es el hecho de que India importa la mayor parte de sus materias primas de China, las convierte en formulaciones terminadas y las exporta.

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