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India's exports to cross $300-bn in FY12

The Federation of Indian Export Organisations (FIEO) on Tuesday said the country's exports would cross USD 300-billion in 2011-12.

"In FY 11, exports touched USD 246-billion and we expect it to reach the USD 300-billion mark in FY 12. Asia, Latin America and Caribbean (LAC) region and Africa have been the main contributors to this growth," FIEO President, Mr. Ramu Deora, said in a press release issued here.

Also, the signing of Comprehensive Economic Cooperation Agreement (CECA) and Free Trade Agreement (FTA) with Asian countries is expected to raise Asia share in our exports to 55 per cent by 2014, he said.

Mr. Deora said that engineering, chemicals, pharma and gems and jewellery would be the important sectors contributing to the increase in exports. These exports would be supplemented by traditional sectors, he said.

FIEO expects the exports to grow to USD 500-billion by 2014-15

Sources : FIEO

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