Indian exports grow 23 percent
Tuesday, 11 January 2005, 20:30 IST
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NEW DELHI:India's exports are estimated to have grown by 23 percent to $53 billion during the first nine months of this fiscal, even as a $88-billion target has been set for the next fiscal year 2005-06, commerce ministry officials said Tuesday. The surge in India's exports and the double-digit growth rate during the first nine months of the current fiscal has been sustained despite an appreciation of the rupee, which makes the dollar rate of exports costlier, officials added. The detailed trade statistics by the Directorate General of Commercial Intelligence and Statistics would be released Wednesday, the officials said, adding that gems and jewellery, engineering goods, ores and minerals showed high growth. Besides, petroleum, chemicals, project goods, cereals except rice, plantations, textiles, jute manufactures, cashew including cashew nut shell, oil meals, leather and meat also registered impressive increases. Officials said Commerce Minister Kamal Nath had set a target of $88 billion in exports for the next fiscal and accordingly directed the ministry to interact with concerned export promotion councils to fix sector-wise projections. These projections have also been sought over another three fiscal years, keeping in view the medium-term export targets of $104 billion in 2006-07, $125 billion in 2007-08 and $150 billion in 2008-09, officials added. Strategies to unlock the potential of agricultural exports from India would also be worked out.
Source: IANS
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