'India's FY12 exports may touch $275 bn'

India's exports in the current fiscal year could touch $275 billion, from $246 billion last year, Ramu Deora, president of the Federation of Indian Export Organisation (FIEO), said on Tuesday.

India's exports in the current fiscal year could touch $275 billion, from $246 billion last year, Ramu Deora, president of the Federation of Indian Export Organisation (FIEO), said on Tuesday.

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India hopes to achieve at least 25 % exports growth in the 2011/12 fiscal year to end-March, and aims to double its merchandise exports within three years, Trade Minister Anand Sharma had said last month.

India's merchandise exports rose an annual 37.5 % in the last fiscal year, surpassing the initial target of $200 billion, as demand soared for engineering goods, oil products and gems.