India needs to look at newer markets for exports apart from the three primary markets of the EU, the US and Japan, Union Minister of State for Commerce and Industry Jyotiraditya Scindia said today.
"Today, 30 per cent of our exports are concentrated in three geographies - the EU, the US and Japan. We have captured these markets and it is important to look at other geographies," Scindia told reporters here.
From a labour intensive perspective, close to 70 per cent of India's exports are committed to these three geographies alone, he said.
"We need to diversify into markets like West Asia, South Africa, Asean and CIS (former Soviet states)," Scindia said.
"The government would place a very strong foot forward to ensure that we move across geographies to other markets," he said.
There was a need for product diversification across four spectrums — consumer goods, manufactured goods, agriculture and services.
Scindia said that exports, in terms of real numbers, have shown a growth after shrinking in the December-April period.
