India`s exports likely to remain same: Scindia

Last Updated: Thursday, July 23, 2009 - 22:55

Mumbai: India`s exports are likely to
remain same at the last year`s level of USD 168 billion owing
to global slowdown.

"We will try to achieve last year`s export turnover
of USD 168 billion in the current fiscal," Minister of State
for Commerce and Industry Jyotiraditya Scindia said here on
the sidelines of Chemxcil`s award giving ceremony here.

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

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

Scindia, however, 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 were 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.

Bureau Report

First Published: Thursday, July 23, 2009 - 22:55

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