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The five-year Foreign Trade Policy (FTP) unveiled in 2009 made due allowance for the global economic turbulence and uncertain overseas markets when it said the Government would take stock of the situation by March 31, 2011 after the short-term shock worked itself out.
After a disastrous dip of close to 35 per cent in 2009-10 in the aftermath of the global financial turmoil, India's exports in the fiscal 2010-11 is set to overshoot the target of $200 billion. Exports have already crossed $208 billion in the first 11 months of this fiscal.
In an interview to Business Line, the Commerce Secretary, Dr Rahul Khullar, said exports during 2010-11 would be somewhere in the $225-230-billion range. The Ministry would be releasing a strategy paper in two weeks' time. “We will be doing this for the first time because exporters are facing a big problem for which something needs to be done.
“The strategy paper would lay out what we should get done in the next three years. We will not set the target of export for the current fiscal unless we get firm numbers for March because there were some delays as the computer system during some days in March was not accessing data,” he said.
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