FIEO sets 5-year export target at $750 bn

NEW DELHI : Exporters body Federation of Indian Export Organisations (FIEO) has set ambitious export target of $350 billion for the current fiscal and $750 billion by 2018-19.

"The Government should set up export growth clusters and parks focussing on specific sectors and countries to accelerate exports," FIEO chief Rafeeque Ahmed said.

FIEO also urged the Government to consider getting into a Free Trade Agreement (FTA) with China and conclude FTA talks with the EU.

"We should boldly consider an FTA with China as Indian exporters can gain enormously if tariffs are brought down in the Chinese market," Ahmed said.

He added that the conclusion of FTA talks with EU can bring benefits to Indian exporters, especially since it no more qualified for lower duties under the Generalised System of Preferences scheme.

"We will discuss our proposal for a FTA with China with the Commerce Minister," Ahmed added.

Last year India exported goods worth $312 billion, missing the target of $325 billion. The improvement in manufacturing performance and higher growth projections for world trade augurs well for India's exports, Ahmed said.

Source : dailyshippingtimes.com