(MENAFN) An Indian commerce ministry official announced that the country will probably miss its USD500 billion exports target for 2014, citing a demand slowdown in major trading partners, mainly the US and Europe, reported Xinhua News.
The official said that the ministry would see if it should revise the target by the end of the current year, moreover, it is analyzing the trend in the exports of a number of items to major trading partners.
In August, India's exports growth fell by 9.7 percent on annual basis to USD22.3 billion, from USD24.7 billion in 2011.
On the other hand, imports in the January-May period of 2012 fell by 6.2 percent to USD191.1 billion.
It is worth noting that India's trade gap in the first 5 months of the year reached USD71.1 billion.
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