Kolkata April 4 (IANS) The Federation of Indian Exports Organisations (FIEO) on Tuesday said country s merchandise and services exports are expected to reach around $500 billion in 2017-18.
The Federation also expects to end fiscal 2016-17 with an export of about $270-275 billion as against $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 an export of $160 billion is expected in 2016-17.
The merchandise exports are expected to be around $315 billion and services exports to about $185 billion in financial year 2017-18 said Federation s new President Ganesh Kumar Gupta.
According to him a greater emphasis needs to be given to exports in the new GST regime with liquidity being the key challenge for the exporters.
In the upcoming mid-term review of the Foreign Trade Policy there is a need to 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 Gupta added.
--IANS
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FIEO expects exports to touch $500 bn in 2017-18
