Nath to meet PM to review exports target later today

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New Delhi, Nov 17 (UNI) Commerce and Industry Minister Kamal Nath today said he will meet Prime Minister Manmohan Singh this evening to review the impact of global slowdown on the 200 billion dollar exports target this fiscal.

'I will meet PM later today to discuss the issue,'' Mr Nath told reporters on the sidelines of India Economic Summit here.

So far, however, the targets are on track, he said, adding that they would also deliberate on providing incentives to the exporters for maintaining a level playing field. by giving them back state and central taxes.

As India is an export-led country, slowdown in the global economies is likely to dent the country's growth prospects.

Industry body Assocham had also projected in its study 'Realistic Exports vs The Targeted One ' that the country's exports are likely to miss its target for this fiscal by 20 per cent or 40 billion dollars shortfall due to various reasons such as the slowdown syndrome , rising ocean freight rates and certain export restrictions imposed by the government.

"Seven key export segments such as textiles, apparel, gems and jewellery, diamonds, brass ware, handicraft and leather are already reeling under recessionary trends," it had said.

UNI MP/SBA SG VC1245

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