India confident of 12% export growth target

Tuesday, 10 September 2002, 07:00 Hrs
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NEW DELHI: India is confident of achieving the 12 percent export growth target set for 2002-03 fiscal.

India's exports have registered double-digit growth during the first four months of April-July.

"On the basis of the trends so far, the target of 12 percent set for 2002-03 would be achieved," Commerce Minister Murasoli Maran said here Tuesday at a two-day meeting of Directorate General of Foreign Trade (DGFT) officers.

During April-July, India's exports grew by 15.17 per cent to $15.87 billion from $13.78 billion in corresponding period of the last fiscal.

After a negligible downslide last year, India stepped up efforts to boost exports as it aims to corner a one percent share of global trade by 2007, up from 0.67 percent now. This would require a compound growth of around 11 percent.

Describing the meeting as a part of a mid-term analysis of the current Exim policy to sustaining and accelerate exports, Maran announced a three-member would reorient and fine-tune the functioning of the DGFT.

This is being done to simplify decision making to ensure greater transparency in trade promotion, said Maran.

Source: IANS
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