The Telegraph
Since 1st March, 1999
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Export target to be met
- 18% rise in the first four months raises ministry’s hopes

Calcutta, Sept. 7: Encouraged by an 18 per cent growth in exports in the first four months, the Union commerce ministry is confident of achieving the 12 per cent export growth target for the current financial year.

“India has achieved an 18 per cent growth in exports in the April-July period as against the corresponding period of the previous year,” said Union minister of state for commerce and industry Rajiv Pratap Rudy. He was in the city to attend a function organised by the Falta Chamber of Commerce (an association of EOUs and EPZ units in eastern region).

Last year the country had experienced a negative growth in spite of keeping an export target of 12 per cent.

The government has set an ambitious target of achieving 1 per cent of the total global exports by 2007. Currently India’s contribution to the total global exports is only 0.67 per cent. Around 60 per cent of India’s exports come from small scale and handicrafts sector.

Indian exporters traditionally export their products to the US, the European Union and Japan. “This over dependence should be reduced. So we are targeting sub-Saharan countries and Latin American countries to export our products,” Rudy said.

The exporters to these markets would be given export house status on export of Rs 5 crore.

“These countries are interested in importing bulk drugs and heavy engineering products from India. In fact, the response from the global market for these two products are quite encouraging,” the minister added.

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