An export survey by industry chamber Federation of Indian Chambers of Commerce and Industry (Ficci) in a report said this, adding the export target of $200 billion by the government for 2008-09 would most certainly be missed.

Several companies that participated in the survey mentioned that ocean freight rates, which have seen a substantial increase in recent times, have affected long haul export orders.

Some of the companies cited that their buyers in the US were considering increasing their sourcing from the markets of Canada, Mexico and other Latin American countries. "If this trend gains momentum then Indian exporters would have to reorient their market strategies and look for markets closer home," the survey said.

The survey saw participation from 323 companies with a wide geographical and sectoral spread. The turnover of the companies that participated in the survey ranged from Rs 1 crore to Rs 20,000 crore.

The respondents to the survey also said that the sharp increase in the price of oil and oil-based inputs has increased their production cost. "The transportation cost for raw materials and for finished goods has also increased and this is putting additional pressure on the exporters," the survey said.