July 16, 2011 6:01 PM

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Exports may not sustain growth rate of 40-45%:Govt

The government has cautioned that the country's exports may not sustain the growth rate of 40 to 45 per cent in the coming months due to the uncertain economic conditions in the western markets. Addressing a Business Chamber function in New Delhi today, Commerce Secretary Rahul Khullar said, the 40 per cent growth rate is a pipe dream that will not continue for rest of the year. However, he said that exports would grow at a rate of 20 per cent and it would not come down below that. Giving reasons for this, he said, in certain sectors, India is now so vastly competitive that it is impossible for the country not to be in the market. He added that sectors like leather, textiles, carpet, engineering and pharmaceutical would continue to grow. The average exports growth in the last five months has been over 40 per cent and even touched 57 per cent in May.Exports during April-June, 2011-12, grew by 45.7 per cent to 79 billion US Dollars.

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