MUMBAI, Aug 31: Commerce & Industry Minister Anand Sharma has expressed hope that India’s GDP would grow by 5.5 per cent during the current fiscal and export performance will be better despite global slow-down.
Addressing leading exporters after inaugurating the brand new office of the Federation of Indian Export Organization (FIEO) here today, Mr Sharma said that regardless of the GDP numbers released yesterday, I am confident that India’s GDP growth will not be less than 5.5 per cent this year.
The Commerce Minister based his optimism on the export performance and said despite the world-wide recessionary trends, Indian exports managed to touch US $ 303 billion last fiscal, almost double from the USD 167 billion 4 years ago.
He said the exports have done well in the first four months of this fiscal and forward bookings of exporters are also encouraging.
FIEO members expressed confidence of touching USD 325 billion mark.
The government has taken several measures to push merchandize exports to earn foreign exchange. The special thrust has been laid on bringing down transaction cost to boost trade efficiency, he said.
(UNI)
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