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Focus on emerging economies will help exports: FIEO

Exporters' body FIEO Monday said that focus on emerging economies will help increasing exports from the country.

"Fourth straight growth in Exports on month -on- month basis augur well for the country," Federation of Indian Export Organisations (FIEO) president M.Rafeeque Ahmed said reacting to April export figures.

The country's exports in April grew by modest 1.68 percent, but imports were up by 10.9 percent year-on-year, as a result, the trade deficit widened in the month of April to USD 17.8 billion as compared to USD 14 billion, up 27.1 percent year-on-year.

The new financial year has started on a positive note and we look forward to build on it. We are aiming for double digit growth in exports to keep trade deficits within manageble limit, observed FIEO Chief.

President FIEO said that focus on emerging economies like Indonesia, Vietnam, Columbia, S. Arabia, South Africa etc would help in quantum jump in exports.

The rising gold imports is a cause of concern but the softening in gold prices is a good news and will help in reducing imports valuewise but there is a need to evaluate rising volume-wise gold imports said Ahmed.