The exporters in India were given a very ambitious target by the concerned department recently of achieving the $500-billion mark by 2014-15.

With this view in mind they are moving ahead and exploring newer markets leaving behind the traditional old markets and moving towards Asean, Latin American and African markets.

Ramu S. Deora, president of the Federation of India Export Organisations believes that of the $500-billion to be achieved a major chunk will only be contributed by the Asian continent with a share of $230 billion.

More than $100 billion according to him will be imported by Asean alone where as exports to Africa and Latin America will rise to levels of $75 billion and $50 billion, respectively. Central Asian nations such as Kazakhstan and Uzbekistan will also be target markets of these exporters also including the Commonwealth of Independent States (CIS) countries such as Russia and Ukraine.

Traditional destinations - Europe and the US will however be witnessing a slowdown of about 15 percent, as the new markets will eat up the share.