FY09 export target $200bn: Kamal Nath

Commerce Minister Kamal Nath has announced an export target of $200 billion for the current fiscal. Exports for the 2007-08 fiscal exceeded $155 billion, the minister said.

Exports saw a cumulative annual growth rate of 23% and accounts for 1.5% of the world's trade, he added. He further said that India should garner 5% share in global trade by 2020.

Kamal Nath also announced the formation of a task force to formutlate an integrated strategy for development of first-class infrastructure and facilitate trade.

The export promotion for telecom added 10 countries in the focus market scheme.

Income tax exemption for 100% export oriented units were extended by one year up to 2010, the minister said.

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