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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

Subhayan Chakraborty  |  New Delhi 

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

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.

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India shipped out more than 610 million tonnes of agricultural produce in FY19.

In the last fiscal year, total exports stood at $302.84 billion, below the government’s target of $310 billion, while it was $275.85 billion in the year before.

India’s annual exports remained above the $300-billion mark till 2014-15, but declined to $262.29 billion in 2015-16 due to global slowdown. Exports had reached a high of $314.4 billion in 2013-14.

In the current fiscal year, the country has seen services exports worth $200 billion, Prabhu added.

First Published: Thu, March 28 2019. 22:56 IST
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