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NEW DELHI, May 1 Asia Pulse - In the backdrop of a sharp rise in the value of the rupee and emerging slowdown in the global economy, a majority of exporters feel the export target of US$160 billion set by the government is too ambitious, according to an Assocham survey.
"Seventy nine per cent of exporters surveyed on 'Prospects of 2007-08 Exports Targets' fixed by government, feel that the US$160 billion export target is too ambitious because of the rise in rupee value and slowdown in global economy, particularly the US and the EU," the Assocham Business Barometer said.
Of the respondents, 59 per cent who showed concern on the appreciating rupee and sought RBI's intervention. Besides 80 per cent of exporters felt that further hardening of the rupee might lead to a sectoral slow growth.
Fifty five percent of the respondents felt that global slowdown is one of ...