Final Export Figures for April-March 2008 exceeds the target of US $ 160 billion

The export target of US $ 160 billion set for the year (2007-08) has been achieved. According to the final figures released by the DGCI & S (Directorate General of Commercial Intelligence & Statistics), the cumulative value of exports for the period April-March 2008 reached a level of Rs.655,864 crore as against Rs.571,779 crore registering a growth of 14.71%. In US dollar terms, exports reached a level of US $ 162.9 billion during 2007-08, registering a growth of 29.02% over the same period last year.

The major drivers of exports during the period were engineering goods (27.34%), petroleum products (51.97%), gems & jewellery (23.27%), agriculture & allied products (55.51%) and ores & minerals (30.34%). Exports of textiles, handicrafts and sports goods, which were badly hit during 2006-07 due to appreciation of rupee vis-à-vis US dollar since September 2006, showed improvement in their performance during the year.