In a bid to achieve 1 per cent share in World Trade, the Union Government outlined a New Medium-Term Export Policy in Jan. 2002, which envisages an annual export growth of .._.._ in the next five years.
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11.9 per cent
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14.5 per cent
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16.6 per cent
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19.2 per cent
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20.2 per cent
A
Correct answer
Explanation
The New Medium-Term Export Policy announced in January 2002 targeted a 1% share in world trade, requiring an annual export growth rate of 11.9% over the next five years. This was an ambitious but achievable target given India's export performance trends.