The Federation of Indian Export Organisations (FIEO) has set a target to achieve merchandise exports to be around US $ 315 billion and services exports to about US $ 185 billion in FY 2017-18. This has disclosed by new FIEO President Ganesh Kumar Gupta in a release issued by the organization.
The Federation expects to end the fiscal 2016-17 with an export of about US $ 270-275 billion as against US $ 262 billion in the previous year, with a growth of around 3-4 per cent for the year in the merchandise sector whereas in services sector FIEO is expecting an export of US $ 160 billion in 2016-17.
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Gupta feels that a greater emphasis needs to be given to exports in the new GST regime with liquidity being the key challenge for the exporters. He also said that in the upcoming mid-term review of the Foreign Trade Policy, there is a need relook at further diversify the product basket focusing more on high-tech products where India’s share in global trade is very low, to further compete in the international market.
