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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 Pravir Kumar, it appears ‘difficult’ to achieve the $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 in New Delhi.
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.