New Delhi: Notwithstanding impressive growth rate of 9 per cent and highest inflow of foreign direct investment (FDI) of $15.7 billion in 2006-07, India's share in world trade was just 1.2 per cent last year.
In a written reply in Rajya Sabha on Wednesday, Minister of State for Commerce and Industry Jairam Ramesh said as per the World
Trade Organisation (WTO), Indian exports worth $120 billion in 2006 accounted for one per cent share in world's exports, while her share in world's imports was 1.4 per cent valued at $174 billion.
On financial year basis, the country's total exports in 2006-07 was valued at $125 billion, according to directorate general of commercial intelligence and statistics.
Replying to another question, the Minister said the government has set an export target of $160 billion for the current financial year.
Answering yet another question, Mr Jairam Ramesh said total foreign exchange earned by export-oriented units in the first nine months of 2006-07 was $8.1 billion, comprising just nine per cent.
Such units get multiple concessions such as duty-free import and domestic procurement and reimbursement of Central sales tax on capital goods, raw materials and corporate tax exemption on export income for 01 years, the minister added.
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