Govt. sets modest export target for 2001-02

By Our Special Correspondent

NEW DELHI, JULY 13. The Government today announced an export target of $49.7 billions envisaging a 12 per cent growth during 2001-02. This is considerably lower than the 19.8 per cent growth recorded last year.

The modest target has evidently been fixed in view of the economic slowdown in the U.S. and Japan, which are the major export markets for India.

The recessionary conditions are gradually extending globally and the low export growth recorded during April and May has made it clear that achieving double digit levels would be a considerable task this year.

Accordingly, an official release says the target for India's merchandise exports has been fixed after extensive consultations with various export promotion councils and commodity boards.

It takes into account the performance of the last financial year as well as an assessment of trends during the current year.

Among the various sectors which are expected to show significant growth this year are chemicals and related products, ores and minerals, electronic goods, petroleum products, project goods, leather and leather manufactures and some agricultural and allied items.

As for the textiles sector, the target is fixed at $13.7 billions, projecting a growth of 13.4 per cent.

Last year, merchandise exports from India were valued at $44.3 billions and the target for 2001-02 was exceeded. The Commerce and Industry Minister, Mr. Murasoli Maran, during an interaction with exporters earlier this week, urged them to strive for achieving at least one per cent share of the global trade.

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