India's Exports For Current Fiscal To Be Same As Prior Fiscal

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India's exports are likely to be the same as prior fiscal's $168 billion due to the global slowdown, the PTI reported quoting Jyotiraditya Scindia, the Minister of State for Commerce and Industry. While announcing the interim trade policy in February, the government fixed an export target $200 billion.

The Minister said that exports fell by 33% to 34% last fiscal and there a was marginal improvement last month, of 28% year-on-year drop. Some sectors like Jems & Jewellery and Chemicals improved, but overall exports were not bullish. Scindia also stressed the need for the industry to tap opportunities in Latin America, CIS, ASEAN and WANA region and target at joint ventures in these countries.

(Market News Provided by RTTNews)