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IRNA - India's Union Commerce Minister Kamal Nath has said India's share in the global trade is likely to go up to two percent in 2009 from 1.5 percent in 2006 on the back of fast growth in goods and services trade.
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"Based on the current rates of growth, it is expected that India's share in world trade covering merchandise plus service trade may well double from the level of 2004 to cross two percent in 2009," he said.
According to information published in the World Trade Statistics by WTO, India's share in world trade, including merchandise and services sector, grew from 1.1 percent in 2004 to 1.5 percent in 2006, an official release said here.
India's share in global merchandise trade is also likely to increase from 1.2 percent in 2006 to 1.5 percent in 2009.
According to the 2006 World Trade Statistics, India's total merchandise trade stood at 294 billion dollars.
Services trade rose to 143 billion dollars, with its share growing from two percent in 2004 to 2.7 percent in 2006.
India's global economic engagement in 2006 covering both merchandise and services trade stood at 437 billion dollars, up 72 percent from 253 billion dollars in 2004, it said.
