India may not achieve the $200 billion trade target fixed for the current fiscal, reported the PTI quoting the Minister of State for Industry, Ashwani Kumar in Lok Sabha. He said that the government and the Reserve Bank of India are closely watching both domestic and international economic developments. He also said that the RBI has already taken various measures to reduce the cost of credit and improve liquidity for trade and industry.
Kumar said that the downtrend in exports is witnessed particularly in sectors like gems and jewellery, textiles and garments, handicrafts, auto******s, leather and leather products, marine products and plastic and linoleum and said employment in these sectors are also impacted. He added that the government is taking steps to create new jobs to solve the problem.
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