India's External Sector in FY2014-15

Export Target : $340 bn
Actual Export : $ 310.5 bn

Actual Import : $447.5 bn

Trade Deficit : $ 137 bn

Reforms undertaken

1. Simplification of labor laws
2. land acquisition

still, exports are not encouraging as

1. global demands are muted
2. volatility in the currency market (value of euro has fallen hurting the exporters)

Share of Europe's in India's export : 18%