Country’s exports will not be able to achieve the target of $325 billion in the current fiscal and will fall short by about $10 billion, FIEO on Wednesday said."Domestic factors like declining manufacturing growth and slow improvement in the global demand are the main reasons for slow growth in the country's exports.
"We will not be able to achieve the $325 billion exports target," Federation of Indian Exports Organisation (FIEO) President Rafeeq Ahmed said.The country's merchandise exports would touch $312-315 billion by the end of this fiscal, ending March 31.
During April-January, exports grew by 5.71 per cent to $ 257 billion, while imports dipped by 7.81 per cent to $ 377 billion. The trade deficit was about $119 billion. In the remaining two months (February and March), the country requires about $70 billion to reach the target.Finance Minister P Chidambaram in the Interim Budget speech has said that India's exports are expected to grow by 6.3 per cent to $ 326 billion during the current fiscal.