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Govt working on plan to raise share of exports in GDP to 20%: Suresh Prabhu

In an interaction with export promotion councils in Kolkata, Commerce Minister Suresh Prabhu asked the industry to come up with a detailed plan to push the country’s exports and said that the Government too will come out with a strategy document on increasing the share of exports to 20% of the GDP.

The current share of exports in GDP is 18-19% FIEO (Federation of Indian Export Organization) says. .

In his budget speech last week, Finance Minister Arun Jaitley had said that India’s exports are likely to expand by about 15% in the current fiscal, ending March 31.

“Indian economy is now $2.5 trillion - seventh largest in the world. India is expected to become the fifth largest economy very soon,” he had said.

The Country’s merchandise shipments rose 12.36% to $27.03 billion in December 2017. Cumulatively, exports during the April-December period of 2017-18 grew by 12.05% to $223.512 billion.

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