Exports target set at $350 billion for FY 2012-13

NEW DELHI: The government has set an export target of $350 billion for the 2012-13 financial year, up over 15% from $303 billion achieved in 20011-12.

Minister of State for Commerce and Industry Jyotiraditya Scindia said a better assessment would be available after the first half of the current fiscal.

"We have set ourselves $350 billion target. We have closed at $303 billion in the last fiscal," Scindia said. Exports grew only 3.2% in April to $24.5 billion. Exports rose 21% in 2011-12 despite a sharp drop in the second half.