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Exports target of $325 bn looks virtually impossible: DGFT
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Saurabh Gupta | 13 Mar, 2014
Director General of Foreign Trade, Ministry of Commerce & Industry, Anup Pujari Wednesday told media that India will not be able to achieve the exports target of USD 325 billion in the current fiscal.
"USD 325 billion looks virtually impossible because if we do USD 30 billion like we did in March 2013 we will be reaching just about USD 310-312 billion," Pujari said on the sidelines of the inauguration ceremony of Carpet Expo begins in New Delhi on Wednesday.
He said, "We are looking at what best we can do and thereafter the government will try to see which sector did not do well and what remedial action needs to be taken."
India's exports declined 3.67 percent to USD 25.68 billion in February to USD 25.68 billion.
The trade deficit in February, as per data released by the government on Tuesday, narrowed to USD 8.13 billion, the lowest level in five months.
It improved mainly on account of a 71.42 percent decline in gold and silver imports to USD 1.63 billion in February from USD 5.71 billion in the same month a year earlier.
Total imports fell 17.09 percent to USD 33.81 billion last month. Oil imports, too, declined 3.1 percent to USD 13.6 billion.
The government has estimated exports at USD 325 billion in this financial year.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
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Yen |
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56.85 |
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