The Federation also expects to end fiscal 2016-17 with an export of about $270-275 billion as against $262 billion in the previous year, with a growth of around 3-4 per cent for the year in the merchandise sector whereas in services sector an export of $160 billion is expected in 2016-17.
"The merchandise exports are expected to be around $315 billion and services exports to about $185 billion in financial year 2017-18," said Federation's new President Ganesh Kumar Gupta.
According to him, a greater emphasis needs to be given to exports in the new GST regime with liquidity being the key challenge for the exporters.
In the upcoming mid-term review of the Foreign Trade Policy, there is a need to relook at further diversify the product basket focusing more on high-tech products where India's share in global trade is very low, to further compete in the international market, Gupta added.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.
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