India’s exports to grow by 6.3pc to $326b this fiscal
Wednesday, 19 February 2014
New Delhi, Feb 18 (PTI): India's exports are expected to grow by 6.3 per cent to USD 326 billion during the current fiscal, Finance Minister P Chidambaram said Monday.
"Though 2013-14 began on a pessimistic note, I am happy to inform the House that the year will end with estimated merchandise exports of USD 326 billion, indicating a growth rate of 6.3 per cent," he said in the interim Budget speech in Parliament.
India's merchandise exports was at USD 300.4 billion in 2012- 13, a decline of 1.8 per cent over the previous year.
"However, imports are down and this does not augur well for either manufacturing or domestic trade. Our aim must be robust growth in both exports and imports, with trade in balance over a period of time," Chidambaram added.
Further, he said exports have recovered sharply and the recovery must be seen in the context of growth of global trade declining from 6.1 per cent in 2011 to 2.7 per cent in 2013.