The government today set an export growth target of 12 per cent for the current fiscal. This is a significant step-up from the 0.08 per cent fall in exports recorded in 2001-02.
Last fiscal, the government had first set an export growth target of 12 per cent, which was later revised to 3 per cent on account of the global economic slowdown and the impact of the September 11 terrorist attacks on the United States.
Union commerce and industry minister Murasoli Maran announced an export target of $48.79 billion, envisaging a growth rate of 12 per cent for 2002-03, an official release said here.
Defying the poor show in the last fiscal, exports grew 18 per cent in April 2002.
The 12 per cent growth target for the current fiscal comes on the back of signs of a trade recovery in the month.
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