India Aims to Double Exports to US by 2014.

While addressing the members of the consultative committee meeting of commerce & industry ministry, minister Anand Sharma said with the set of measures announced recently, we would be able to achieve the target of $200 billion by the end of this financial year.

“In the remaining three years of the Foreign Trade Policy, we should be able to maintain a high growth trajectory of annual export growth of 25% and will be able to double India’s exports of goods and services. Exports in September stood at $103 bn as against $81bn in the previous year, showing an average growth of 27.6%”, the minister said.

According to Apeda, the Indian food export is expected to grow at 12% per annum in the processed food and fruit exports segment. In 2009-10 Apeda exports rose to Rs 40,000 crore, up Rs 2,000 crore from the sales a year earlier.

The US food importers expect the Indian food exporters to focus US market for speciality food and organic items.

Exports of agricultural products from India are expected to cross around $22 billion mark by 2014 and account for 5% of the world’s agriculture exports.

Manohar Tirkey, Lok Sabha MP, highlighted the issues relating to fruits and vegetable exports, T K Rangarajan, Rajya Sabha MP, expressed concern over India losing export markets in developed countries and stated the need for creating domestic demand.

Source : fnbnews.com