8216;India8217;s 500 bn export target acheivable8217;

8220;Due to various government policies and benefits given under the foreign trade policy,there has been a diversification in the export destinations of the country.

There had been big change in export trends over the last 10 years,8221; he said.

He said India8217;s engagement with regions like ASEAN has reduced dependency on developed economies.

The US and Europe,which account for over 40 per cent of India8217;s exports,now contribute less then 30 per cent,he said.

Further,he said that although the world economy is on the verge of a severe slowdown,India has managed to maintain its exports growth momentum.

During the April-September period this fiscal,India8217;s exports grew by 52.1 per cent to USD 160 billion.