India's exports register 24% growth

By agencies   |   Wednesday, 27 April 2005, 07:00 Hrs
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KOCHI:India's exports registered a record 24 percent growth during 2004-05 as against the target of 16 percent, Director General of Foreign Trade (DGFT) K T Chacko said today.

Chacko said imports had also recorded comparative growth mainly in capital goods sector like machinery, which indicated that export houses were either preparing to modernize their production units or in the process of capacity expansion to meet their growing export commitments.

The growth in exports last year had also contributed to an additional 10 million jobs in this sector, Chacko said, adding that additional job creation was one of the main policies of the government.

He said growth in annual exports would also put on the country an additional commitment to keep up the momentum of growth and it was in this context that the center was reviewing export-import policies on an annual, long-term basis.

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