The Hindu : Business : Exports may miss target

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Tuesday, Feb 05, 2008
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Exports may miss target

15 p.c. rupee appreciation impacts growth

— PHOTO: SHANKER CHAKRATY

READY RECKONER: Union Minister for Commerce and Industry, Kamal Nath (right), with Chairman, CLE, Mukhtarul Amin, releasing a book in New Delhi on Monday.

NEW DELHI: In the wake of a global slowdown, particularly in the U.S., and sharp rupee rise, Commerce and Industry Minister Kamal Nath on Monday said he was ‘a bit sceptical’ about achieving the export target this fiscal.

However, Mr. Kamal Nath expressed confidence that India would end 2007-08 with exports in the range of $150-155 billion. “I am getting a bit sceptical about the export targets ... but we won’t be far behind it, let’s see somewhere there (between $150 billion and $155 billion),” Mr. Kamal Nath said on the sidelines of a book release function organised by the Council for Leather Exports.

Export target at $160 b

The Government has set an export target of $160 billion for the current fiscal.

However, the over 15 per cent rise in the rupee against the dollar has impacted export growth, particularly in labour-intensive sectors of leather, textile, handicraft and marine products.

The country has achieved exports of $111 billion in the April-December period. India’s exports last year were $125 billion.

Mr. Kamal Nath said the Government was giving priority to labour-intensive sectors such as leather, toys and sport goods to increase their competitiveness and enable domestic producers counter imports from China.

A review meeting was held here to discuss issues affecting the industry and ways to address these in the budget and the annual supplement to the Foreign Trade Policy, he said. — PTI

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