India’s exports seen hitting $350bn in 2018/19 – trade body

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’s exports could rise as much as a fifth in the current fiscal year ending March 2019 to reach about $350 billion, a leading body said.

The Federation of ’s Export Organisations, FIEO, also hopes India will actively engage with the United States to protect local industry’s interest, said Ganesh Gupta, president, FIEO.

A move by the central bank to ban credit instruments such as letters of undertaking and letters of comfort after a $2-billion fraud at a state-run bank has raised the cost of funds for exporters by 1 percent to 3 percent, Gupta added.

 

  • Reuters

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