Target, soft loans for exporters ; Encouraged by the export figures for 2007-08, despite an appreciating rupee, the government is targeting an ambitious exports target for 2008-09.

Encouraged by the export figures for 2007-08, despite anappreciating rupee, the government is targeting an ambitious exportstarget for 2008-09. Senior Commerce Ministry officials told BT thatthey feel that an export target of $200 billion (Rs 8 lakh crore)for 2008-09 is entirely achievable. They point out that this year,exports are likely to be close to the Commerce Ministry projectionof $160 billion (Rs 6.4 lakh crore), despite the apprehension tillrecently that this target may not be achieved. So, a 25 per centincrease is possible.

However, the ministry acknowledges that for this, it would haveto lend a helping hand to labour-intensive industries such astextiles, leather and handicrafts, which have been hit hard by thedearer rupee. On the cards are loans at concessional rates to thesesectors by banks.

Rishi Joshi