The Union Government announced an export target of 325 billion dollars for the current financial year 2013-14 to support the slowdown in the global markets.
It is due to the global slowdown in developed regions like that of US and Europe, the exports of India went down for the first time in three years with a dip of 1.8 per cent to 300.6 billion Dollars in 2012-13, making the trade deficit to a record high level of 191 billion dollars.
It is important here to note that, the Government had set an export target of 360-billion dollars for the financial year 2012-13.
According to the provisional figures, export registered an increase of 0.8 per cent for the month of January 2013 after a permanent fall during May, June, July, August, September, October, November and December 2012.
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