Debate on export target
R. SURYAMURTHY

New Delhi, March 26: The government is considering a $200-billion export target for 2008-09 in the annual review of the foreign trade policy next month. However, exporters, who are already hit by the rupee’s appreciation, are sceptical about such a high target when the signs of a slowdown in the US economy are looming large on them.

“There has to be a realistic approach in setting the target. This year we are unable to achieve the target, what is the point in setting such ambitious targets,” said D.K. Nair, secretary general of Confederation of Indian Textile Industry.

However, the government is considering an increase in the export target to $200 billion as lower import costs have benefited the sector, which re-exports finished goods, officials said.

The textile sector is one of those hard hit by the rupee appreciation. About four million people in the labour intensive sectors such as textile, leather, marine products and handicrafts have lost their jobs till September.