** Sagar Sandesh print version ceases to be published from December 31, 2017. New look E-paper would be available from Jan. 1, 2018 onwards. free of cost.**

India may have to scale down export target due to persistence of global economic downturn

The government may have to revise downwards its export target of 900 billion US dollars by 2020  keeping the global economic downturn  into account, apex body of exporters Federation of Indian Export Organisations (FIEO) has said.

The target could be lowered to 700-750 billion US Dollars for merchandise and services exports put together.

"Government may revisit the export target and reduce it, taking into account the global situation," said Ajay Sahai, director general of the Federation of Indian Export Organisations said on May 25.

This will happen if exports grow at a compounded annual rate of 15 per cent, he said.

In 2017-18, however, the organisation estimates Indian merchandise exports to clock 325 billion US dollars and pegs services exports at 180 billion US Dollars

In 2016-17, goods exports were 275 billion US Dollars and services exports were 160.68 billion.US Dollars.

Copyright © 2017 PORT TO PORT - Shipping Services Portal ( Sagar Sandesh ). All rights reserved.

Follow Us