Riding on a high export growth rate of 26 per cent in the first five months of 2004-05, the government on Thursday said it was confident of exports touching the $75 billion-mark.
"We are heading towards 75 billion dollar mark. This is based on the performance on the exports front till now which is going towards doubling of our share in global trade by 2009," the Commerce and Industry Minister Kamal Nath said.
In an interactive session at the Forum of Financial Writers, he said the government was hopeful that the current growth rate would continue and the target would be reached.
"The challenge is to strive for sustaining the growth rate at 0 per cent and above for the next five years. The
export target for the current financial year 2004 -- is pegged at 16 per cent. But I am determined that we shall exceed it," he said.
Asked about certain provisions like Target Plus scheme in the National Foreign Trade Policy which has not been notified so far, he said it would be notified soon.
He said as part of the Government's strategy to boost certain exports and employment-generating sectors, the ministry was organising a national conference on textiles which would bring together all stakeholders to deal with the post-quota regime.
The government was also in the process of formulating a tea advisory committee to bring back the lost glory of the sector, he said.
Nath said the government was undertaking an extensive study to determine the co-relationship between export growth and employment generation.