According to Chidambaram, though the financial year 2013-14 began on a pessimistic note, it will end with estimated merchandise exports of 326 billion USD. He said exports from India have recovered sharply, in spite of the global trade declining from 6.1 percent in 2011 to 2.7 percent in 2013.

"India's merchandise exports have reached a level of 300.4 USD billion in 2012-13 registering a negative growth of 1.8 percent over the previous year, but during the current year, they are likely to grow by 6.3 percent," Chidambaram said in his speech while presenting the interim budget for 2014-15 to the Lok Sabha.

The lower house of Parliament. The finance minister added that during the year the government, the Reserve Bank of India and the Securities Exchange Board of India have undertaken several measures to facilitate capital inflows in the foreign exchange market to stabilize the rupee.

(Agencies)

Latest News from India News Desk