Hailing the sharp 57 per cent increase in exports to $ 25.9 billion in May, Mr Ramu Deora, President, Federation of Indian Export Organizations (FIEO), said it was the sign of a robust global scenario, particularly in advanced economies, coupled with effective government initiatives.
According to him, if stability in policies is maintained and credit cost lowered, the country would be able to surpass this year's export target as well.
However, Mr Deora expressed concern over the import figures, which had climbed 54.1 per cent to $ 40.9 billion, resulting in a trade deficit of $15 billion. While stressing that domestic manufacturing should be encouraged to offset the huge deficit, Mr Deora said that the government should provide a level playing field to the industry.
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