By IANS
New Delhi : India’s exports for the current fiscal (2007-08) may at best reach $140-145 billion against a target of $160 billion because of the rising rupee hurting the sector, said a senior government official.
“We may at best reach $140-145 billion for the (financial) year. We are still worried about employment-intensive sectors where job losses are taking place,” Commerce Secretary G.K. Pillai told reporters on the sidelines of the India Economic Summit here Monday.
Due to an appreciating rupee, which has surged by almost 15 percent in the last 12 months, export sectors, especially of textiles, leather, handicrafts and marine products, are facing job losses.
“In the textile sector, exports have come down by 22 percent. Handicrafts exports have declined by 66 percent, leather by nine percent and marine products by 20 percent,” Pillai said.
“We have submitted a paper for providing sops to these exporters,” he said.
He also indicated that almost 30,000 regular employees and 100,000 contract labourers have been laid-off in the exports sector.