India's big dream of doubling exports of goods and services and achieving an ambitious target of $900 billion by financial year 2020 is at risk, thanks to a global economic slowdown, structural challenges of the global trade and infrastructure issues in the domestic economy. India's exports hit the $470 billion in financial year 2015 but this year the slowdown in global demand scenario and a dip in prices of petroleum products have dented external trade volumes.
India's shipments were down for the 11th straight month in October, with merchandise exports declining 17.53% to $21.35 billion from $25.89 billion worth of goods sold abroad during the corresponding month of last year. There have been projections every now and then that India's export will outpace China's between 2025 and 2050. That target would have come nearer by now as the Chinese economy is in the doldrums while India has been trying to spread its wings rapidly, discovering newer markets for its goods and services.
This has been excerpted from a 4 December 2015 news item from India Info Online and is available in its entirety at: http://www.indiainfoline.com/article/news-top-story/india-s-ambitious-us-900bn-export-target-at-risk-115120400569_1.html