Govt sets $325 bn exports target for 2013-14

The government has set an export target of $325 billion for the current financial year on the back of slowdown in the global markets.

The government had set a target of $360 billion for 2012-13.

Due to the global slowdown in the developed regions like the US and Europe, the country's exports fell for the first time in three years with a dip of 1.8 per cent to $300.6 billion in 2012-13, taking the country's trade deficit to a record high level of $191 billion.

Minister of State for Commerce and Industry D Purandeswari in a written reply to the Rajya Sabha on Wednesday said the "government has set an export target of $325 billion for the year 2013-14... As per provisional figures, export registered an increase of 0.8 per cent for the month of January after a continuous fall during May, June, July, August, September, October, November and December 2012."