Kolkata, Dec 02: After a low-key performance during the first five months, Indian exports have bounced back and are expected to reach the targeted 12 per cent growth in 2003-4, according to the Director General of Foreign Trade. "Exports started picking up in September. While the annual export growth this year may not be as spectacular as last year, it is poised to reach the targeted 12 per cent growth," L Mansingh, director general, DGFT, said here today.
The export growth (in dollar terms) in 2002-3 was 20 per cent.
The annual growth target of 12 per cent was set under the export-import policy for 2002-7 to achieve at least one per cent share in global trade, he said.
Mansingh said there had not been any significant impact of appreciation of rupee against dollar on Indian exports.
While the targeted growth in exports had been maintained during past few years, there was emergent need to expand export units to non-traditional places and expand capacity in sectors like steel and automobiles.
"With the steel exports surging over the years, there is need to expand capacity to meet domestic demand and sustain growth of engineering exports and others," he said.
Mansingh, speaking at an interactive session organised by CII, said the Centre was considering extending some of the facilities available at the special economic zones to other exporting units located elsewhere. Bureau Report