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India's exports to maintain healthy growth this fiscal: Commerce Secy

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Dion Global

06 Feb 2019

The government Tuesday expressed hope that the country's exports that are currently growing at 10 per cent will maintain the pace this fiscal.

Commerce Secretary Anup Wadhawan said trade deficit is not going to be a matter of "any worry".

Issues related to exports were discussed during a meeting convened by the commerce ministry with export promotion councils.

"Our exports are growing at 10 per cent. For the last three years, our exports have been growing and I have been saying that our exports are on track for reaching a record level this year.

"We are going to surpass the old level of USD 314 billion. We are on the way of achieving a record performance. Right now, we are 10 per cent up and I am sure we are going to maintain that," the secretary told reporters after the meeting.

A statement issued by the ministry said that the meeting with export promotion councils and other key exporters was held to discuss various issues being faced by exporters and examine ways by which India's merchandise exports can reach USD 325 billion by March 2019.

In 2013-14, the country's merchandise exports touched USD 314.4 billion level. After that, exports came under immense pressure again due to global slowdown.

Council of Leather Exports President P R Aqeel Ahmed, who attended the meeting, said they suggested ways to further boost exports.

During April-December this fiscal, exports grew by 10.18 per cent to USD 245.44 billion. Imports rose by 12.61 per cent to USD 386.65 billion.

The trade deficit widened to USD 141.2 billion during the nine months of the current fiscal from USD 120.57 billion in April-December 2017-18.