Mumbai: Despite the volatility and economic instability in the global markets, the Indian government has set an export target of $325 billion for the current fiscal. However, the outlined target is far less than the figure aimed in last fiscal, which was $360 billion.
Confirming the outlined fiscal export targets, D Purandeswari, Minister of State for Commerce and Industry said, “Government has set an export target of $325 billion for the year 2013-14. As per provisional figures, export registered an increase of 0.8% for the month of January after a continuous fall during May, June, July, August, September, October, November and December 2012.”
According to the official resources, the country’s exports fell for the first time in three years to 1.8% in 2012-13 ($300.6 billion) due to the global slowdown in the developed regions like US and Europe. This took the country’s trade deficit to a record high level of $191 billion.
EPC World News Bureau
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