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India's export of goods may touch $330 billion in 2018-19: Suresh Prabhu

Expressing optimism over export growth, Commerce and Industry Minister Suresh Prabhu has said that India's export of goods may touch $330 billion in 2018-19. He added that this will be the highest ever growth. He said the country's merchandise exports have seen high growth in the past six years through sector-specific interventions, focused export promotion initiatives, and quick resolution of issues.

With the structural reforms that have been put in place over the past five years by the ministry and action-oriented plans for major sectors, Prabhu said India is on the path to become the fifth-largest economy this year. He also said the Department of Commerce has identified nine sectors that are gems and jewellery, leather, textiles, engineering, electronics, chemicals, pharma, agriculture and marine products to achieve at least 16% growth in exports in 2018-19.

Besides, continuing its growth trajectory for the fourth straight month, India's exports grew by 3.74% to $26.36 billion in January, as exports of gems and jewellery, chemicals and pharmaceuticals increased. Cumulative value of exports for the period April- January 2018-19 was $271.80 billion as against $248.18 billion during the period April- January 2017-18, registering a positive growth of 9.52%.

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