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India’s exports are estimated to have crossed US $ 53 billion during nine months of current financial year 2004-05 and the export growth rate in April-December is estimated to be over 23%. Thus, the surge in India’s exports is continuing despite appreciation of the rupee and the double-digit growth of over 20% is being sustained. Detailed trade data based on Directorate General of Commercial Intelligence & Statistics (DGCI&S) provisional figures would be available tomorrow.
Meanwhile, Shri Kamal Nath has announced an export target of US $ 88 billion for the next financial year 2005-06. In pursuance of this, the Ministry of Commerce & Industry is interacting with the concerned Export Promotion Councils and Commodity Boards to finalise the targets sector-wise and commodity-wise for each of the next four years to enhance India’s exports to the level of US $ 88 billion in 2005-06, $ 104 billion in 2006-07, $ 125 billion in 2007-08 and $ 150 billion in 2008-09. Strategies to unlock the potential of agricultural exports from India would also be worked out.
According to disaggregated data for April-August 2004-05, the sectors showing high growth in exports are gems & jewellery, engineering goods, ores & minerals excluding coal and mica, petroleum products, chemicals & related products, project goods, cereals except rice, plantations including tea, textiles excluding jute manufactures, cashew including cashew nut shell, oil meals, leather & manufactures, meat and preparations.
SB/MRS
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