Export for the fiscal to be around $ 140 bln: Pillai

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New Delhi, Dec 3 (UNI) Indian exports are likely to be around 140 billion dollars during this fiscal and can reach 145 billion dollars if the present strength continues, said Commerce Secretary G K Pillai.

''We will definitely hit the 140-billion-dollar mark in exports,'' Mr Pillai told reporters on the sidelines of the World Economic Forum summit here.

He, however, said many sectors like textiles, leather and marine products have been witnessing a downturn in exports. ''Do not look at the gross figure. Sectors like handicrafts have seen 66 per cent decline in exports.'' Mr Pillai added that though growth has been in some sectors like petroleum and engineering products, the impact of rupee appreciation is being felt in sectors with high employment.

India set an annual export target of 160 billion dollars but a relentless rise in the value of the rupee, which has risen to record high against the dollar, has meant that Indian companies have lost the competitive edge compared to its competitors with a resultant squeeze on margins.

UNI

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