India targets 25 percent growth in exports
November 4th, 2010 - 8:06 pm ICT by IANSNew Delhi, Nov 4 (IANS) India will double its exports by 2014 on the back of 25 percent annual growth and a diversified market, Commerce and Industry Minister Anand Sharma said Thursday.
“With the help of a set of measures announced recently, we will be able to achieve the target of $200 billion exports in this financial year,” Sharma said at a consultative committee meeting of the commerce ministry here.
He pointed out that India’s exports had increased 27.6 percent to $103 billion in the first six months of current fiscal as against $81 billion during the same period last year.
He said the government had adopted a multi-pronged strategy - providing a stable policy regime, adopting a conscious market diversification plan, providing additional support to sectors hit badly by the global recession, encouraging technological up-gradation of export sectors, and undertaking simplification of procedures to reduce transaction costs - to boost exports.
Emphasising the need to diversify exports, Sharma said: “It is important to have a diversified market and ensure a better risk management for our exports to buffer against any challenges which may come with the changes in global economy.”
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Tags: anand sharma, commerce ministry, committee meeting, conscious market, consultative committee, diversified market, export sectors, global economy, global recession, gradation, industry minister, market commerce, market diversification, policy regime, pronged strategy, risk management, simplification, stable policy, target, transaction costs