India sets $340 billion merchandise export target for FY2014-15
The Dollar Business Bureau | @TheDollarBiz The Indian government is targeting a growth of 8% in merchandise exports to $340 billion in FY2014-15, according to Nirmala Sitharaman, Minister of Commerce, Government of India. In the Foreign Trade Policy (FTP) 2009-14, India had aimed at merchandise exports of $500 billion by FY2013-14 on the basis of strong growth fiver years ago, but revised the target last year to $325 billion due to a decline in industrial growth, higher cost of credit, rupee depreciation, and sluggish global economic growth. Sitharaman said that the Euro Zone Crisis and the global slowdown had an adverse impact on India’s overall trade last year, but India is better prepared now. “While the global environment still ...
