Govt to miss export target of $360 billion: Anand Sharma

Govt has already cleared three FDI proposals on single brand retail last week

India is expected to miss the export target this fiscal of $360 billion as exports will not exceed $300 billion, commerce and industry minister Anand Sharma said today after addressing the student of St Xavier's college.

"Exports have not grown as we were hoping because of the contraction in global trade, the continuing turbulence in the Eurozone area and the fall in demand in some of the traditional destinations. We still hope, the numbers of February and March will remain strongly positive. We will be happy if we mange to reach closer to $300 billion this fiscal," Sharma said.

While talking about FDI in retail he said that the government will fast track new proposals and has already cleared three foreign direct investment proposals on single brand retail last week.

He also added that Sainsbury, Carrefour, Tesco and Walmart have applied for permission to set up sourcing centres in
the country.

While talking about the Jet Airways-Etihad deal he said that the government has assured the later that India is a safe and a profitable investment destination.

Sharma also added that chief negotiator will meet on 14- 15 March to discuss about Free Trade Agreement between India and the Euro Zone.