Exports may touch $270 billion this financial year: FIEO

During the April-February period of the current FY, exports have grown by 2.52% to $245.4 billion

With the country's exports recording healthy growth during the past few months, the shipments are expected to touch $270 billion by end of this financial year (FY), FIEO on Friday said.

The Federation of Indian Export Organisations (FIEO) said that during this challenging period, India witnessed double-digit growth in exports in February after a long time.

"Going by the current trend, we expect to reach around exports of $270 billion this fiscal," FIEO President S C Ralhan said in a statement.

During the April-February period of the current FY, exports have grown by 2.52 per cent to $245.4 billion.

He also said that to encourage the exporters and have an intrinsic growth, FIEO has instituted the regional awards which is given at the state level to exporters who have excelled in their respective fields and states.

As the states of northern India play a significant role in total exports, FIEO has felicitated the top performers in various categories from this region on Thursday.

G K Gupta, Vice-President, FIEO said that the prevailing global economic environment makes it imperative for the exporters to explore new markets and diversify their product range.

As per world economic outlook update, economic activity in both advanced economies and emerging markets is expected to accelerate in 2017 and 2018.