FY12 exports may touch $275 bn

Exports in the current fiscal year could touch USD 275 billion, from USD 246 billion last year, Ramu Deora, president of the Federation of Indian Export Organisation (FIEO), said on Tuesday.

India hopes to achieve at least 25% exports growth in the 2011/12 fiscal year to end-March, and aims to double its merchandise exports within three years, Trade Minister Anand Sharma had said last month.

India's merchandise exports rose an annual 37.5% in the last fiscal year, surpassing the initial target of USD 200 billion, as demand soared for engineering goods, oil products and gems.