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Rediff News  All News  » Business » India's exports turnover may remain at $168 bn

India's exports turnover may remain at $168 bn

July 23, 2009 19:59 IST
India's exports are likely to remain at the last year's level of $168 billion owing to the global slowdown.

"We will try to achieve last year's export turnover of $168 billion in the current fiscal," Minister of State for Commerce and Industry Jyotiraditya Scindia said.

The government had fixed the target for $200 billion of exports for the current fiscal while announcing the interim trade policy in February.

Scindia had recently informed the Rajya Sabha that the target was "unlikely to be achieved" due to continuing global financial crisis and economic slowdown.

Certain sectors of exports like, gems & jewellery and chemical were showing signs of improvement in the export markets, but overall things we re not bullish.

"Our exports fell by 33-34 per cent last fiscal. However, there were some improvement in the last month, where exports were down by 28 per cent over the corresponding month last fiscal," he said.

Chemxcil is an export promotion council set up by the Ministry of Commerce & Industry for chemicals, pharmaceuticals and cosmetics sectors.

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