We will go past that peak quite comfortably this year," Union Commerce Secretary Anup Wadhawan told reporters here. So, certainly, I see a good future for Indian IT," he said."In fact, you all know about the downturn of 2008-09 when there was a financial crisis, that hit us quite badly. It&hybrid injection molding machine39;s an environment where petroleum prices are coming down and 15 per cent of our exports are petroleum products.. There are so many interventions, starting with making credit available at affordable rates..Replying to a query, he said the country's exports to China and the US are doing well and that the trade issues between the two countries also to some extent contributed to India's cause. Country's exports to China and US are doing well and that the trade issues between the two countries also to some extent contributed to India's cause."Petroleum products, gems and jewellery, leather products and even textiles would be among sectors that contribute to the growth in exports.

Mind you, that is in a very, very challenging global environment.The exports, in general, have been growing almost consistently for the last three years, he said. I think the economy is in good shape," he said."This year, we are very confident that we will go past our earlier peak, our earlier peak of 2013-14.An export strategy is in place with the government listening to the exporters and addressing their problems, he said. But then we recovered from that. The earlier peak was 314 billion, he said. He hoped the IT exports would grow at around 10 per cent which has been the trend for many years.."Current account is under control, thanks to the fact that exports are growing and then petroleum prices have also stabilised to some extent and are falling in the recent months."The earlier peak was 314 billion. He also said the Current Account Deficit is well under control. We will be comfortably beyond that. Then again, there were couple of years of slight downturn," he said."India is doing better, because of lot of effort which has been put into it, effort on the policy side, effort on the regulatory side, in terms of ease of doing business, in terms of simplification of procedures.After that, for the last three years, the country's exports were growing, he added.

"The fact that we are dominant today (in IT), will in many ways, logically mean that we will remain dominant tomorrow also. We reached a peak figure of our exports in 2013-14 and then as you know that global crisis got accentuated," Wadhawan said. Hyderabad: The country's exports in the current fiscal year are expected to surpass the earlier peak of USD 314 billion in 2013-14, a senior official said on Monday. Pharma, engineering products, petroleum products, gems and jewellery, leather products and even textiles would be among sectors that contribute to the growth in the exports, Wadhawan said.The achievement comes against the backdrop of a very challenging global environment, Wadhawan said.," Wadhawan said

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