India's export share touches 1%

India's share in world merchandise exports has crossed the 1 per cent mark and continues to stay at that level.

It touched 1 per cent of global exports in 2005, and in January-August 2006, the share continues to be above 1 per cent.

The latest Economic Survey shows that this share had been stagnating for the past few years and stood at 0.7 per cent in 2001. It stabilised at 0.8 per cent between 2003 and 2004.

The country could increase its share of global merchandise exports as domestic exports grew by more than double the rate of growth in world exports since 2005.

External factors like improved global growth and recovery in global trade aided the growth. The government has set a target of achieving 1.5 per cent of total world exports by 2009.

"This target is achievable considering the current performance of the industry and the government policies," said Bishwajit Dhar, professor, Indian Institute of Foreign Trade.