Exports, manufacturing require Budget's focus: Fieo

  • PTI, New Delhi
  • Updated: Jul 04, 2014 13:48 IST

Reducing the cost of credit for traders and boosting exports as well as manufacturing require special attention in the forthcoming Budget 2014-15, exporters' body Fieo has said.

"Propelling exports, when world economy is expected to grow at over 4.5 per cent, will be much needed both for managing trade deficit, current account deficit as well as generating employment in the country," the Federation of Indian Export Organisations said in a statement.

The finance minister has to find ways and means for reducing the cost of credit which has moved by over 60% in the last three years, it said.

India's trade deficit rose to 10-month high of USD 11.23 billion in May even as exports grew by 12.4%, highest rate in six months, on improvement in the global demand.

India's exports in the last three years have been hovering at around USD 300 billion. India's exports in 2013-14 fell short of the USD 325 billion target and managed to reach USD 312.35 billion. The country's exports stood at USD 300.4 billion in 2012-13 and USD 307 billion in 2011-12.

According to Fieo, India's exports are expected to touch USD 360 billion in the current fiscal.

From Around the Web
Sponsored by Revcontent

also read

‘Dream, dream, dream!’: 10 memorable quotes by People’s President APJ Abdul Kal...
Show comments

Steps to disable Ad Blocker on your browser


In order to serve content on our website, we rely on advertising revenue which helps us to ensure that we continue to serve high quality unbiased journalism. From our end, we will aim to show clean and unobtrusive ads to provide you with a great browsing experience.

Request to please follow the steps below and once done, please refresh your page.


For Chrome and Ad BlockPlus users

1.Press the ‘ABP’ icon in your toolbar at top right of this page

2. Click on ‘Enabled on this site’; this should now change to ‘Disabled on this site’


chrome



For Chrome and Ad Block users

1.Press the ‘AdBlock’ icon in your toolbar

2.Select the option ‘Don’t run on pages on this domain’ and then click ‘exclude’ on the pop up


chrome

Steps to disable Ad Blocker on your browser


In order to serve content on our website, we rely on advertising revenue which helps us to ensure that we continue to serve high quality unbiased journalism. From our end, we will aim to show clean and unobtrusive ads to provide you with a great browsing experience.

Request to please follow the steps below and once done, please refresh your page.


For Mozilla and AdBlock Plus (ABP) users

1.Press the ‘ABP’ icon in your toolbar

2.Select the option ‘Disable on hindustantimes.com’


chrome

Steps to disable Ad Blocker on your browser


In order to serve content on our website, we rely on advertising revenue which helps us to ensure that we continue to serve high quality unbiased journalism. From our end, we will aim to show clean and unobtrusive ads to provide you with a great browsing experience.

Request to please follow the steps below and once done, please refresh your page.


For Internet Explorer and AdBlock Plus users

1.Press the ‘AdBlock Plus’ icon in your status bar at the bottom of the screen

2.Select the option ‘Disable on hindustantimes.com’


chrome

Steps to disable Ad Blocker on your browser


In order to serve content on our website, we rely on advertising revenue which helps us to ensure that we continue to serve high quality unbiased journalism. From our end, we will aim to show clean and unobtrusive ads to provide you with a great browsing experience.

Request to please follow the steps below and once done, please refresh your page.


For Safari and AdBlock users

1.Press the ‘AdBlock’ icon in your toolbar

2.Select the option ‘Don't run pages on this domain’ and then click 'exclude'


chrome