Indian Exports will exceed the target of one billion US dollars set for the current financial year. This was revealed by Commerce Minister Anand Sharma while talking to reporters after a meeting with the Board of Trade in New Delhi today. Mr. Sharma said that global economic crisis will not have much impact on the Indian economy. However, the Minister said that the volatility in the crude prices, remains a matter of concern.

He added that Indian exports will maintain the growth momentum attained in the past two years. The Commerce Minister said, the government is taking various measures to reduce red-tapism and encourage new players in the export sector. Mr. Sharma also said that his Ministry is in consultation with the Finance Ministry to provide more credits to the industry at lesser interest rates. The Commerce Minister also noted that the government is trying to get more access in the Chinese market for the pharmaceutical industries.

AIR Correspondent reports that the meeting discussed global trade, policy measures to address the impact of financial meltdown and procedural simplifications in the meeting. It also focused on the process of continuous interaction between the Board and the government to discuss foreign trade policy issues.