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Govt revises export-import targets, lowers trade deficit
06
Jul '09
The new trade policy envisaged by the government has set a target to achieve exports of US $19.9 billion for the new fiscal year beginning from July 1, 2009. On the other hand, the target for imports has been set at $28.7 billion.

As per the targets, the trade deficit is expected to be $8.8 billion against the trade deficit of $16.26 billion garnered in the first eleven months of the previous fiscal, when exports stood at $16.2 billion and imports totaled $31.48 billion.

As per the overall exports target, the lions share of the target is expected to be achieved by the textile sector, with shipments amounting to $10.41 billion. Exports of foods are expected to touch $3.06 billion in the fiscal.

Among other goods, shipments of carpets will reach $213.2 million, sports goods $303 million, tanned leather $408 million, finished leather goods $689 million, footwear 103 million and jewelry $210 million.

Within the textiles group, contributions will come from raw cotton with $69 million, cotton yarn $1.28 billion, cotton fabrics $1.98 billion, yarn $46.1 million, knitwear $1.84 billion, bedwear $1.87 billion and towels $603 million.

Readymade garments is expected to raise $1.43 billion, art silk and synthetic textile $403 million, textile made ups $528 million and other textile materials $351 million. Imports of the textile sector are expected to touch $1.94 billion.

Fibre2fashion News Desk - India

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