| Date: |
04-05-2010 |
| Subject: |
Sharma upbeat on export target |
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New Delhi, May 3: Commerce minister Anand Sharma today expressed optimism that exports might cross $170 billion in 2009-10.
Sharma was speaking on the sidelines of the Businessworld Ficci-SEDF corporate social responsibility award function here.
Exports have crossed $156 billion between April 2009 and February 2010.
India has set an export target of $200 billion for the current fiscal against $185.5 billion achieved in 2008-09.
According to Sharma, there is no need for the Reserve Bank of India to stem rupee appreciation right now. “It has not yet reached a stage for government intervention,” he said.
He said the government had created a separate window for dollar credit under the foreign trade policy last year that can be used by exporters to hedge themselves against any rupee appreciation.
The partially convertible rupee has appreciated nearly 4.8 per cent in 2010 on renewed interest of foreign investors in the country.
Source : telegraphindia.com
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