SME Times News Bureau | 03 Jun, 2010
Commerce and Industry Minister, Anand Sharma Thursday said that India will achieve 15 percent growth in exports in the current financial year 2010-11.
"We are confident to achieve the 15 percent growth target in exports this year," Sharma told reporters on the sidelines of an event in Mumbai.
The country's merchandise exports grew by 36.3 percent to $16.9 billion in April as against $12.4 billion in the corresponding month a year ago, marking the sixth straight month of growth.
India's exports contracted for 13 straight months starting October 2008, before turning positive in November '09 ; and since then shipments have followed the growth path.
"The long-term policy objective is to double the percentage share of this country in global trade by 2020," Sharma added.
In the financial year 2009-10, exports dropped 4.7 percent to $176.5 billion mainly due to the global meltdown which had hurt demand. The Indian government has set a target of $200 billion-worth merchandise exports for 2010-11.