More steps likely to boost export

Written by Press Trust of India | New Delhi | Updated: Jul 30 2010, 05:22am hrs
The government on Wednesday said it is mulling over steps to give a further push to exports, which have grown by over 32% in the first quarter of the current fiscal. The commerce ministry has completed three-day consultations with exporter bodies such as FIEO and business chambers in the wake of the Prime Ministrys Economic Advisory Council (PMEAC) revising the export target to $216 billion for 2010-11.

Earlier, the ministry had fixed the export target at $200 billion on top of $182 billion in 2009-10 (the government has since revised the exports for the previous fiscal from $176.6 to $182 billion). Our consultations with chambers and exports councils have been completed. Now we will have in-house exercises and see what is required to be done, commerce and industry minister Anand Sharma told reporters after the review meeting.

Indias exports, which were impacted by the global demand slowdown, started rising from November 2009 on back of improved demand in the traditional markets of US and EU. In the first three months, exports stood at $50.8 billion showing a growth of 32.2% over the year-ago period.