India's exports likely to grow at least 10% in 2014: FIEO.

New Delhi: India's exports are likely to grow by at least 10 percent in 2014, exporters body FIEO said today, basing its forecast on the WTO's projections of global trade.

"On a rough estimate, India's export growth has been more than double the global trade growth and thus we should expect a minimum of 10 percent increase in exports in 2014," Federation of Indian Export Organisations (FIEO) President Rafeeque Ahmed said.

Global trade is projected to recover and grow by 4.7 percent in 2014, more than double of what was achieved in 2013, the World Trade Organization said yesterday.

The growth is projected to be slightly faster at 5.3 percent in 2015, which is also the 20-year average.

Ahmed said between 2005 and 2013, world trade grew by 7.35 percent on an average, while India's exports jumped by 15.66 percent on an average during this period.

However, since India's exports recorded a modest growth of about 4 percent in 2013-14, a 15 percent increase in overseas shipments to USD 360 billion should be targeted for 2014-15, he said.

Source : zeenews.india.com