Export import gap to widen

NEW DELHI, MARCH 1: India will have to rely heavily on external capital to bridge a staggering gap of Rs 2498 billion between exports and imports during the Ninth Plan period.

Exports is projected to grow at a rate of 14.5 per cent as against 10.3 per cent in Eighth Plan touching Rs 9163 billion even as import growth rate has been slashed to 12.2 per cent from 14.1 per cent in the previous plan to reach a whopping figure of Rs 11,661 billion for the entire period.

The total capital inflow required during the plan period will be Rs 1957 billion accounting for 2.5 per cent of GDP, the Ninth draft plan said.