$104 bn is export target for '06-07

The commerce and industry ministry has fixed a tentative export target of $104 billion for the next fiscal, against a target of $92 billion for the current fiscal.

"Against the current year's target of exports of $92billion (which is expected to be exceeded), the department has tentatively fixed a target of $104 billion," the ministry said in its outcome budget.

It said the envisaged target for 2006-07 is likely to be revised upwards keeping in view the trend of exports during the current year. The target will be in line with the export target of $150 billion in 2008-09.

The performance of various schemes of the commerce ministry has been encouraging as exports have recorded a growth rate of more than 20 per cent during the last three years, said the outcome budget.

Exports in the April-January 2006 period stood at $74.98 billion, higher by 18.87 per cent in relation to the figure in the corresponding period the previous year.