“By March 31 this year, the Government of India thought exports should be US$200 billion. However, in February itself we have crossed that figure and therefore by March-end we will do around US$225 billion of export. This year’s deficit is likely to be around US$120 billion,” Director-General of Foreign Trade (DGFT) Anup K Pujari, told reporters on the sidelines of an Open House Meet on Foreign Trade Policy here.

“The (export) target for the fiscal (2010-11) has been achieved by February itself. Since we are doing well...our exports are likely to be in the area of US$225 billion. Last month our exports increased by 31 per cent compared to February 2010,” he said.

The country’s trade deficit this year is likely to be around US$120 billion, which is less than 2.5 per cent of our GDP and over the years we would like to bring it down as a percentage of GDP, Pujari said.