Shri Kamal Nath, Union Minister of Commerce & Industry, urged exporters to aim at achieving of US $126 billion exports during the current financial year 2006-07, thereby doubling India's merchandise exports in three years – from a level of US $63 billion in 2003-04.
Chairing a review meeting convened by him with all Export Promotion Councils (EPCs) and Commodity Boards on Export Targets and Export Performance here this evening, he assured that the government would extend all support to enable exporters to cross the target of US $ 120 billion set for the year 2006-07, which envisaged a growth of 16.8%.
“With the sustained 20% plus export growth witnessed in the last couple of years, I am confident that US $ 150 billion merchandise exports will be achieved well before the target date of 2009, enabling India to increase its share of world trade to at least 1%”, Shri Kamal Nath said.
Noting that some of the Councils such as gems & jewellery and chemicals & allied products were projecting growth rates lower than 16.8% projected for exports as a whole, Shri Kamal Nath urged them to suitably revise their targets upwards, while assuring them that constraints impeding faster growth in specific sectors would be addressed on a priority basis.
Shri Jairam Ramesh, Minister of State for Commerce; Shri S.N. Menon, Commerce Secretary; Shri G.K. Pillai, Special Secretary; Shri K.T. Chacko, Director General of Foreign Trade; and other senior officials participated in the interaction along with representatives of the EPCs and Commodity Boards covering India's key export sectors such as engineering, gems & jewellery, chemicals & related products, textiles (including silk, synthetic & rayon, wool & woollens, handlooms and handicrafts), sports goods, leather, processed foods, coffee, tea, tobacco, cashew and coir besides the Federation of Indian Export Organisations (FIEO).
marketing@alchempro.com
