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Shrugging off a ‘challenging global environment’, the country’s merchandise exports are poised to exceed $314 billion recorded in 2013-14, according to Anup Wadhawan, Secretary, Department of Commerce, Union Ministry of Commerce.
“We are confident of surpassing the peak export figure this year. This is despite a challenging global environment where petroleum prices are coming down and about 15 per cent of our exports are petroleum products,” he said.
Wadhavan delivered a keynote here on Monday at the inaugural of the 19th edition of IndiaSoft 2019 and the GlobalSoft2019.
Addressing the media, he said that the IT industry will grow at 10 per cent. Sectors such as pharma, engineering products, textiles, gems and jewellery and leather products will drive exports.
“After achieving the peak, there was a downturn for a couple of years. But after that our exports have been growing consistently barring one or two months,” he said.
He said the government was regularly discussing issues related to policy and regulation and has been adjusting accordingly. “This has become part of the strategy,” he said. The Commerce Secretary said that the current trade tussle between the United States and China could benefit India.
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