India's exports to fall short of $325bn target: Anand Sharma

India Infoline News Service | Mumbai |

Federation of Indian Exports Organisation (FIEO) said that the exports will touch about $312 billion during the current financial year.

Anand Sharma, Commerce and Industry Minister said on Tuesday, Indian exports will fall short of the $325 billion target envisaged in the current fiscal, according to a media report.
India's merchandise exports rose 4.79% to $282.7 billion for the April-February period. Imports during the 11-month period fell 8.65% to $410.86 billion. The trade deficit during this period was $128 billion.
Federation of Indian Exports Organisation (FIEO) said that the exports will touch about $312 billion during the current financial year.
Besides global slowdown, domestic factors like declining manufacturing growth have impacted the exports growth.
The country's engineering exports fell by over 3% in February, the first time in seven months, because of steep decline in shipments to the key ASEAN markets of Singapore, Malaysia, Indonesia and Thailand with which India has entered into a Free Trade Agreement.
In order to enhance shipments, FIEO have suggested the government to fix exports target at least for next five years and announce some major policy decisions in the forthcoming Foreign Trade Policy for 2014-19.
 

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