Exports falls short by $5 bln of target in FY08, at $155 bln

New Delhi, Apr 22 (UNI) India's exports for 2007-08 was at 155 billion dollars, short by five billion dollar from the targetted 160 billion dollar.

Disclosing this in the Lok Sabha today, in reply to a question, Commerce minister Kamal Nath said the dip was minor, as overall export performance has shown great resilience despite appreication of rupee, high interest rate, spiralling oil prices and general international economic slowdown in some of India's major trade markets.

Notwithstanding the slippage in meeting the 2007-08 exports target, India has upped exports target to 200 billion dollars for FY09, the minister added.

Replying to another question, he said there is no plan to import rice to curtail rise in its prices in the country.

Instead, the government has banned export of non-basmati rice to strengthen domestic supply in a bid to check high prices.

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