The slashing of export target for 1994-95 by 11 per cent, which is said to be around the comer, would be a purely theoretical response to the declining performances in the key export sectors It won't be an action per se.

Whittling down of an economic target, nearly half-way through the year, can be hardly inspiring, although it may be an unavoidable exercise when our backs are to the wall. Yet. there is a valid question to ask about setting unrealistic targets in a fit of over-ambition to be self pleasing and pleasing to others. We must realise that aiming high called for extra preparation and effort that were obviously not there.

There are two blind spots even in the revised frame of mind: One. we do not Exactly know how badly we have fared in September and October, even though quite obviously it was bad enough over the July-August period. In keeping a tab over a volatile situation our statistics must relate to the closest possible calender month. Secondly, we have Just about eight months left of the current fiscal year to meet a target which has been only negligibly reduced..

It is thought-provoking that our industrial exports have declined markedly while the Third World's share in the manufacturing trade is poised to exceed that of the industrial world by the next decade.

Evidently, a new motivation has to pulsate through the government organisations and the banking institutions to provide the right kind of back-up support to the private sector export houses and smaller individual enterprises. Let there be a joint body of private and public sector leaders exclusively acting as a trouble-shooter when snags develop in customs and revenue clearances, shipping and air transportation. It may ensure the reliability of power supply to the industries. Our export prices have lost some of their competitive edges with higher costs of production. We need to, break new marketing grounds. Let’s closely study the post-GATT scenario and fine-tune our trading stratagem accordingly-

We cannot let the much-vaunted idea of export-led growth receive setbacks so early in the day. The downsizing of the export target has to be accepted as an admission of our failure. One very cogent reason why we should feel obliged to improve the export performance is: we never tire of telling the ceuntries ,we have trade deficits with that they are not buying enough from us.