FY18 merchandise exports to see double-digit growth; to touch $315 bn: FIEO

Services exports to be about $185 billion as against $160 billion a year ago

Federation of Indian Export Organisations (FIEO) on Tuesday said it expects the merchandise exports from India to witness double-digit growth at around $315 billion and services exports to be about $185 billion in the financial year (FY) 2017-18.

The Federation, which was set up by the Union Commerce Ministry, expects FY17 to end with a merchandise export of about $270-275 billion with around 3-4 per cent growth as compared to $262 billion a year ago and $160-billion exports in services during FY.

"As we had already touched $300-billion merchandise exports in the past also, we should look at more aggressively increasing our exports with previous six months, especially the February exports showing an impressive double-digit growth of around 17.5 percent," FIEO president Ganesh Kumar Gupta said in a statement.

Gupta, chairman of Mumbai-based Akaash Textiles and Vijay Silk House Group took over as the new president of FIEO with effect from April 1, 2017, for a period of two years, according to a statement issued by the Federation's Hyderabad chapter.