New Delhi: The government has set an export target of USD 325 billion for the current financial year on the back of slowdown in the global markets, Parliament was informed on Wednesday.
"Government has set an export target of USD 325 billion for the year 2013-14," Minister of State for Commerce and Industry D Purandeswari said in a written reply to the Rajya Sabha.
Due to the global slowdown in the developed regions like the US and Europe, the country's exports fell for the first time in three years with a dip of 1.8 per cent to USD 300.6 billion in 2012-13, taking the country's trade deficit to a record high level of USD 191 billion.
The government had set USD 360 billion export target for 2012-13.
"As per provisional figures, export registered an increase of 0.8 percent for the month of January after a continuous fall during May, June, July, August, September, October, November and December 2012," she added.
First Published: Wednesday, May 8, 2013, 14:26