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Exports likely to grow by 15% in 2017-18
Feb 13, 2018
The country’s exports are likely to register a growth of about 15 per cent in the current fiscal, which will translate into about $ 315 billion.
While presenting the Union Budget for 2018-19, Finance Minister Arun Jaitley said: Our exports are expected to grow at about 15 per cent in 2017-18.
Increase in the outbound shipments will help in generating more jobs besides strengthening the external sector of the country.
Cumulatively, exports during April-December 2017-18 grew by 12.05 per cent to $ 223.51 billion.
In the last financial year, the country’s total merchandise exports stood at $ 274.64 billion. Going by the 15 per cent growth expectation, the total figure by end of 2017-18 could reach about $ 315 billion.
The government is taking steps, including enhancing role of states to boost the outbound shipments, as it aims to increase the share of the country’s exports in global trade from the current 1.7 per cent.
Between 2011-15, exports from the country crossed the $ 300 billion mark.
Commenting on this, Federation of Indian Export Organisations (FIEO) said that 15 per cent growth is very much on the card as global trade is booming supported by buoyancy in commodities.
However, a volume-wise growth would pose some challenge due to appreciation of rupee, liquidity crunch and increasing protectionism across the globe, it said in a statement.
The Hindu Business Line
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Agricultural & Processed Food Products Export Development Authority
(Ministry of Commerce & Industry,
Govt. of India)
NCUI Building 3, Siri Institutional Area, August Kranti Marg, New Delhi - 110 016
Phone : 91-11-26513204, 26514572, 26534186
Fax : 91-11-26526187