India’s March exports rose to $16.3 billion, the commerce ministry said in a statement in New Delhi, on Thursday. That was slower than February’s 35.3 per cent gain.

Trade Minister Kamal Nath may find it difficult to achieve an export target of $200 billion for the current year that began April 1 as the government has banned shipments of some food products and other commodities to curb prices.

A slowdown in the US, India’s biggest market, also threatens overseas sales. “It’s going to be a challenging task to sustain the pace of export growth in the face of a moderation in the US and other major economies,” Director General of the Federation of Indian Export Organisations Ajay Sahai.  India’s exports in the fiscal year ended March 31 rose 23 per cent to $155.5 billion, compared with the target of $160 billion. The figures are provisional and may be revised later. Exports grew 23 per cent in the last fiscal year.

Exports to the U S grew 9.8 per cent in the eight months to November 30, slower than the 12.8 per cent gain in the same period a year earlier, according to the latest breakup of exports released by the central bank. India provides a more detailed analysis of exports five months after releasing initial data.

Europe shipments

Shipments to Europe rose 28.3 per cent in the eight-month period from 16.4 percent in the year earlier, the central bank said. Shipments to the UK rose 24 per cent and sales to the Netherlands jumped 102 per cent.