India provides some optimism for suppliers

The Asia Miner reports that India’s appetite for energy will continue to drive change in the sub-continent’s mining sector and create new opportunities for Australian businesses despite the global economic downturn, according to Austrade’s New Delhi-based Senior Trade Commissioner Peter Linford. Speaking at India’s largest mining industry event, the International Mining and Machinery Exhibition (IMME 2008), held in Kolkata, November 5-8, he said: “India is not affected as much by the global financial crisis as other markets including China. It’s a much more domestically driven economy, relying less on exports as a percentage of the GDP. According to the IMF, India’s exports as a percentage of GDP were 21.2%, nearly half that of China’s at 40.7%. (more…)

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