India may fall way short of 2014-15 exports target

India is likely to miss the exports target of $340 billion set for 2014-15, falling short of the mark by almost 8 per cent at around $314 billion, a top official said.

According to Directorate General of Foreign Trade (DGFT) Pravir Kumar, it appears "difficult" to achieve the USD 340 billion merchandise exports target.

Asked about the quantum of total merchandise exports the Commerce Ministry expects for the current fiscal, Kumar told PTI: "Almost at par with the last year. Last year, we were at $314 billion, so around that only."

He was speaking on the sidelines of a function organised by exporters body Federation of Indian Export Organisations (FIEO) here.

During 2013-14, total value of exports stood at $465.90 billion, with merchandise and services accounting for $314.40 billion and $151.5 billion, respectively.

The target for total exports for 2014-15 is $500 billion, with merchandise and services expected to be at $340 billion and $160 billion, respectively.