Text Box: India's trade with China grew by by 104% in 2002 and in the first 5 months of 2003, India has amassed a surplus in trade close to $0.5M. Mobile phones are growing by about 1.5Million a month. Long distance rates are down by two-thirds in five years and by 80% for data transmission. Wal-Mart sources $1 Billion worth of goods from India - half its apparel. Wal-Mart expects this to increase to $10 Billion in the next couple of years. GAP sources about $600 million and Hilfiger $100 million worth of apparel from India. Text Box: Tata Motors paid $ 118 million to buy Daewoo commercial vehicle Company of Korea. Ranbaxy, the largest Indian pharmaceutical company, gets 70% of its $1 billion revenue from overseas operations and 40% from USA. Tata Tea has bought Tetley of UK for £260M. India is one of the world's largest diamond cutting and polishing centres, its exports were worth $6 Billion in 1999.   About 9 out of 10 diamond stones sold anywhere in the world, pass through India. Garment exports are expected to increase from the current level of $6 billion to $25 billion by 2010. The country's foreign exchange reserves stand at an all-time high of $120 Billion.   Text Box: India: Trade