Saturday, February 12 2005 15:42 Hrs (IST) - World Time -

New Delhi: The country's exports grew 26 per cent in the first 10 months of the financial year 2004-05 to $ 61 billion, looking to exceed the 16 per cent growth target for the year to reach $ 75 billion.

The exports in the previous year were estimated at $ 63.4 billion.

Exports in January 2005 were estimated at $ 7 billion dollar, an official release said in New Delhi.

Commerce Minister Kamal Nath indicated that the country's merchandise exports would exceed the target of 16 per cent growth set for the year to reach a level of $ 75 billion dollar.

He said high growth had been achieved despite strengthening of Rupee vis-a-vis dollar and overall impact of rise in fuel prices on competitiveness. The country was clearly heading towards doubling of its percentage share of world merchandise trade and increasing its exports to $ 150 billion by the year 2009, he added.

The top 10 countries to which Indian goods were exported in 2003-04 were US, UAE, China, Hong Kong, UK, Germany, Singapore, Belgium, Japan and Italy.