On the back drop of robust export growth and favourable global economic environment, Department of Commerce, in May 2011, had prepared a strategy for Doubling Merchandise Exports in three years from US$ 246 billion in 2010-11 to US$ 500 billion in 2013-14.

The Export Target for the year 2013-14, for Merchandise Trade, as finalised by DOC is US$325 billion.

The target was revised due to factors such as: weak industrial growth, higher cost of credit, rupee depreciation, Euro zone sovereign debt crisis, recession in developed economies and sluggish global economic growth which have adversely impacted India’s exports.

The information was given by the Minister of State in the Ministry of Commerce and Industry Dr. D. Purandeswari in a written reply in the Rajya Sabha.

Export target revision: planned export doubling scaled back due to adverse domestic and global economic conditions. A national trade strategy to double merchandise exports was scaled back when the terminal-year export target was revised downward; the administrative adjustment was justified by weak industrial growth, higher credit costs, currency depreciation, sovereign debt turbulence abroad, recession in advanced economies and sluggish global demand, and was communicated to the legislature in a written ministerial reply.