<p>India’s merchandise exports recorded a compounded annual growth rate of 21.5 per cent during 2004-05 to 2008-09.<br /><br />Exports till 2007-08 has been in line with the targets in the trade policy, the ouctome Budget document said.<br /><br />After growing at 31.3 per cent in the first half 2008-09, exports plunged by 22.3 per cent in the remaining six months, falling short of the US$200-billion target. For the fiscal, exports were US$168.7 billion, a flat growth of 3.5 per cent.<br /><br />The FTP had two objectives — doubling India’s percentage share of merchandise export and making trade an instrument of economic growth — and “both the objectives of the FTP have been considerably met,” it said.<br /><br />India’s share in the global merchandise trade increased from 0.8 per cent in 2003 to 1.4 per cent in 2008, it said adding the export sector also created a large number of jobs.<br /><br />The Government will further unveil the new FTP, which will spell out the priorities segments in the external trade, in August.</p>
<p>India’s merchandise exports recorded a compounded annual growth rate of 21.5 per cent during 2004-05 to 2008-09.<br /><br />Exports till 2007-08 has been in line with the targets in the trade policy, the ouctome Budget document said.<br /><br />After growing at 31.3 per cent in the first half 2008-09, exports plunged by 22.3 per cent in the remaining six months, falling short of the US$200-billion target. For the fiscal, exports were US$168.7 billion, a flat growth of 3.5 per cent.<br /><br />The FTP had two objectives — doubling India’s percentage share of merchandise export and making trade an instrument of economic growth — and “both the objectives of the FTP have been considerably met,” it said.<br /><br />India’s share in the global merchandise trade increased from 0.8 per cent in 2003 to 1.4 per cent in 2008, it said adding the export sector also created a large number of jobs.<br /><br />The Government will further unveil the new FTP, which will spell out the priorities segments in the external trade, in August.</p>