Country to achieve $325 bn export target: DGFT

Cumulative value of exports for April-October period of 2013 -14 was 179.376 billion dollar or Rs 10,69,226.68 crore

The Director General of Foreign Trade (DGFT) under the Union ministry of Commerce and Industries is hopeful that the country would achieve its export target of $325 billion in the current financial year.

“In the first seven months of the current fiscal merchandise goods worth 179 billion dollar were exported. We hope to get to the $325-billion target in next five months,” said Anup K Pujari, Director General of Foreign Trade.

Pujari was in the city to attend an open house meet organised by Federation of Indian Export Organisation, Eastern region-Odisha Chapter in association with the Directorate of Export Promotion and Marketing, Odisha.

He said, the figure is achievable if the exports grow at 11 per cent over the next five months. The Indian exports have shown double digit growth in last four months. DGFT has set the export target at $500 billion for 2014-15.

Cumulative value of exports for the April-October period of 2013-14 was 179.376 billion dollar (Rs 1069226.68 crore) as against $168.706 million (Rs 918,270.21 crore) in the corresponding period of last year, registering a growth of 6.32 per cent in dollar terms and 16.44 per cent in rupee terms, said a recent PIB release.

Exports during October, 2013 were valued at $27.097 billion (Rs 168,031.71 crore) which was 13.47 per cent higher in dollar terms (31.86 per cent higher in rupee terms) than $24.032 billion (Rs 127,431.81 crore) achieved in October, 2012. “We want to double our global trade volume by 2020,” he added. Pujari urged the state government to conduct due diligence of the quality of products prepared by the small artisans as it is decided that exports shipped through courier and e-commerce platform will be eligible for export benefits. As there is no clarity on the quality of products sold in the internet, they (artisans) should be encouraged to get ISO and BIS certifications, to gain buyers confidence, he added. He said, Odisha has great potential of export in cashew nuts and sea food products. Sea food export is growing at the rate of 20 per cent to 30 per cent annually. It is expected to reach Rs 1,000 crore this year.

Chief Secretary Jugal Kishore Mohapatra assured that the state will soon waive entry tax of two per cent on yarn to boost textile exports.