The Hindu : Business : Exports rise 26 p.c. in November

Online edition of India's National Newspaper
Sunday, Dec 12, 2004

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Business

Exports rise 26 p.c. in November

NEW DELHI, DEC. 11. Enthused by exports growing by 26 per cent in November and all set to reach $75 billion in the financial year, the Central Government today fixed a target of $88 billion for 2005-06.

Exports were so far on target and were likely to reach $75 billion during the current financial year, the Union Commerce and Industry Minister, Kamal Nath, said here at the review meeting for export performance convened by him.

Noting that in November alone, India exported over $6 billion worth of goods, with an average of $200 million a day, he asked exporters to aim even higher while complimenting them for their creditable achievement in spite of rising oil prices, rupee appreciation and congestion at ports.

"With this, our exports have so far crossed 48 billion dollar and the cumulative rate of growth for the eight month period (April-November) of the current year works out to more than 24 per cent over last year. We must not only keep the tempo up but also be ambitious enough to accelerate it," he said.

In a departure from the past practice of setting export targets on an annual basis at the beginning of every financial year, Mr. Kamal Nath announced that the target would be $88 billion for 2005-06, $104 billion for 2006-07, $125 billion for 2007-08 and $150 billion for 2008-09. — PTI

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