IN the wake of the slowdown in demand for merchandise trade in the global markets, the government is now formulating a new strategy to achieve exports of $ 500 billion by the end of the 2013-14 fiscal.

While expressing confidence that the government would be able to get the action plan ready within a month, a senior Commerce Ministry official said that the focus would be on bringing down transaction costs of exporters, to ensure that they do not face non-tariff barriers in the importing countries.

Source : Exim News Service - NEW DELHI, June 26