Exports may touch $325 billion in 2017-18: PHD Chamber

Posted by Daily Shipping Times on 04-05-2017        Tweet

NEW DELHI: India's exports are expected to touch $325 billion in 2017-18 on account of rising competitiveness of Indian products and revival in global demand conditions, industry chamber PHDCCI said. "Our merchandise exports are expected to touch $325 billion mark in 2017-18," PHD Chamber President Gopal Jiwarajka said in a statement. The remarkable performance exhibited by exports is driven by rising competitiveness of India's products and revival in global demand conditions, he said. He added that the new tax regime - GST - would also help enhance competitiveness of Indian products and increasing exports.

Further, he said strong rupee is favourable for the growth of exports in Indian scenario. 

“Recent evidences have also indicated that when rupee appreciated from around Rs 68.60/$ in November 2016 to Rs 64.86/$ in March 2017, exports growth jumped considerably from around 2.29 per cent to 27.59 per cent, respectively,” Jiwarajka said.