India’s commerce ministry said Wednesday that the country’s exports would reach a maximum of $150 billion this fiscal year. Although that figure is lower than the commerce ministry’s official target of $160 billion, it is much higher than the most recent estimates by the Federation of Indian Export Organizations. On Jan. 15, FIEO said exports for this fiscal year would reach $135 billion, noting that several Indian sectors have been damaged as the value of the rupee gained 12 percent against the dollar since January, 2007. Exports from April-November, 2007 totaled $98.38 billion, according to the commerce ministry, up 22.08 percent over the same period the previous year, led by gems, jewelry, rice and iron ore. The stronger rupee hurt exports of textiles, leather and handicraft.
Journal of Commerce
