India targets $350 bn in exports for fiscal 2012-13: Scindia

New Delhi, May 18 (PTI) Indian government has set an export target of USD 350 billion for fiscal 2012-13 ending March 2013 and is hopeful of achieving it despite the current weak global economic scenario. Minister of State for Commerce and Industry Jyotiraditya Scindia said a better assessment of the shipments would be made after the first half of the current fiscal. "We have set ourselves USD 350 billion target. We have closed at USD 303 billion in the last fiscal," Scindia told reporters Thursday on the sidelines of an Export Promotion Council for EOUs and SEZs (EPCEs) held awards function here. Scindia said although the global economy is struggling to come out from the economic uncertainties, "I can say that even in a difficult environment our exporters are doing a tremendous job". India's exports surpassed the target of USD 300 billion for 2011-12 and touched USD 303.7 billion, despite problems in Europe and the US which together account for over 65 per cent of the country's total exports. Imports during the year shot up by 32.1 per cent to USD 488.6 billion, leaving highest-ever trade deficit of USD 184.9 billion. PTI