Merchandise exports to be at $330 billion in FY19: Suresh Prabhu

This will be lower than the $350-bn target set by the commerce department

Total merchandise exports will be about $330 billion in the current fiscal year, Commerce and Industry Minister Suresh Prabhu said on Thursday. This will be lower than the $350-billion target internally set by the commerce department.

Exports have consistently been unable to meet the commerce department’s annual trade growth forecast. Speaking at a meet with diplomats from the European Union and the Oceania region, Prabhu said India’s exports have risen despite global uncertainties in the early part of 2018-19 (FY19).

While petrochemicals, jewellery, and apparel remain major export sectors, newer segments such as agri products have been successfully pushed, officials said.