Exports up in Oct, may fall short of target

India's exports rose by a healthy 35.65 per cent in October, but Commerce Secretary G K Pillai on Monday said it may not be enough to meet the USD 160 billion target for the current fiscal. Exports stood at USD 13.30 billion in the month under review that also saw imports rise by 24.27 per cent to USD 20.79 billion, leaving a deficit of over USD 7 billion as against USD 6.92 billion in the year-ago period, as per trade data released. "If this (October) trend continues, we may achieve exports of USD 140-145 billion against the target of USD 160 billion," Pillai said on the sidelines of the India Economic Summit in the national capital.
India revised its export target to USD 160 billion in April after a surge in its currency vis-a-vis the US dollar. The Rupee has risen nearly 14 per cent in the last one year and is now trading at around 39.80 to a Dollar, hurting exports - particularly of textiles and leather.
Exports during April-October rose 20.89 per cent to USD 85.58 billion, while imports were up 25.31 per cent at USD 129.99 billion.
Source:- http://www.headlinesindia.com/archive_html/03December2007_64787.html