Exports likely to grow at least 10 per cent in 2014: FIEO

NEW DELHI: India's exports are likely to grow by at least 10 per cent in 2014, exporters body FIEO said today, basing its forecast on the WTO's projections of global trade.

"On a rough estimate, India's export growth has been more than double the global trade growth and thus we should expect a minimum of 10 per cent increase in exports in 2014," Federation of Indian Export Organisations (FIEO) President Rafeeque Ahmed said.

Global trade is projected to recover and grow by 4.7 per cent in 2014, more than double of what was achieved in 2013, the World Trade Organization said yesterday.

The growth is projected to be slightly faster at 5.3 per cent in 2015, which is also the 20-year average.

Ahmed said between 2005 and 2013, world trade grew by 7.35 per cent on an average, while India's exports jumped by 15.66 per cent on an average during this period.

However, since India's exports recorded a modest growth of about 4 per cent in 2013-14, a 15 per cent increase in overseas shipments to $360 billion should be targeted for 2014-15, he said.