Mr. Divya Aggarwal
Senior Copy Editor
Money Management Consultants Ltd
New Delhi, India
Free Member
Joined :05/11/2007
No of Topics Posted : 113
Reply/Comments : 18
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TOPIC : Exports may hit $150b this fiscal
Going by the current trends and given the hit from an appreciating rupee, Indian exports likely to touch $150 billion this financial year. Though the export target of $160 billion may not be met, a senior commerce ministry official expects the exports to rise sufficiently to reach $150 billion mark by the end of this fiscal.
The ministry had earlier expected it to be around $140 billion though the commerce and industry minister, Mr Kamal Nath, had expressed confidence in meeting the target and refused to review it. Last financial year exports had touched $125 billion.
The growth in dollar terms has been in the range of 18 per cent, the official said. An over 15 percent appreciation in the rupee has hit export in several sectors, including textiles, leather and handicraft.
The November data, which will be submitted to the commerce minister, has shown an increase in volume of exports even though it had gone down in value terms, thanks to a surging rupee as against the dollar.
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TRADE INDIA MAIL
