STRATEGIES FOR PROMOTION OF INDIA’S EXPORTS TO EMERGING MARKETS: LATIN AMERICA & CARIBBEAN COUNTRIES AND SUB-SAHARA AFRICA

Promotion of India's exports to new emerging markets in the world has assumed significant importance in the view of the economic slowdown in the developed counties and relatively growing opportunities in the emerging markets. Further, India's capacity to meet the demands of these countries in diverse fields covering consumer goods to high technology machinery items can prove to be mutually advantageous to India and these countries. But in order to achieve the desired results, there is a need for dynamic export marketing strategies to penetrate into emerging markets of the world covering mainly Latin America & Caribbean countries and SubSahara Africa. This paper is descriptive in nature and assesses the extent to which India has tapped the market share of these new emerging economies. This paper also analyzes India's trade with these regions from year 2008-09 to 2016-17 and identifies the issues pertaining to the bilateral trade between India and these regions. The result shows a huge balance of trade against India. In view of this, India need to further push and re-examine all the schemes and strategies started with the aim of promoting India's exports and strengthening trade relations and focus on the key issues to stimulate the exports to these economies.