Press Conference :Federation of Indian Exports Orgnasiations

10 May 2011: Nksagar-Sagar Media Inc: New Delhi: FIEO President,Ramu S Deora today again sticks to projected exports target of US$537 billions for 2014-15 announced earlier in December 2010.Ministry of Commerce and Industry fixed export targets for 2010-11 at US$ 200 Billions while FIEO puts it higher to US$ 220 Billions.The all out efforts of the exporters coupled with market diversification strategy of the Government helped to achieve a growth of 37.5% last fiscal,the best year so far,so as to reach a new milestone of US$ 240 Billions.Various factors played a key role in achieving such a target including interest subvention of 2% and continuation of DEPB and various other schemes.The higher growth achieved in 2011 prompted the government to revise the targets for 2013-14 from US$ 450 billion to US$ 500 billion.With emerging challenges at the global level coupled with constraints of domestic economy achieving compound annual growth rate of 26.7% to achieve US$ 312 billions by 2011-12 is not an easy task partuclarly when the sword of Damocles is hanging on exporters head observed,Mr Deora.