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Indian exports may reach US$ 360 billion in 2014-15: FIEO

Hailing the double digit growth in exports for the month of May, M Rafeeque Ahmed, President, Federation of Indian Export Organisations (FIEO) said that this seems to be beginning of upward growth backed by better global trade forecast for 2014 and 2015. Ahmed said that spectacular exports growth by readymade garments, organic and inorganic chemicals, engineering goods, petroleum products, etc. backed by encouraging growth by pharmaceuticals, leather & leather products, food products and positive growth in gems & jewellery sector largely contributed to the double digit growth. Most of economies, barring few countries in Latin America, are posting better results which augur well for India's exports in next few months. Going by the current trend, the export could reach US$ 360 billion in 2014-15. However, we need to address supply side constraints observed Ahmed.