New Delhi, Dec 31 (IANS): India's merchandise exports are expected to touch $330-340 billion in the current fiscal, Federation of Indian Export Organisations President Sharad Kumar Saraf said on Monday.

According to Saraf, despite having moderate share in global trade, India's exports have followed the trend in global imports.

"Therefore, when global imports are declining, our exports are also likely to take a hit. Currently, India's merchandise exports during April-Nov, 2019 are down by about 1.99 per cent. Therefore, we feel our goods exports may touch $330-340 billion in the current fiscal," he was quoted as saying in a statement.

In 2018-29, the country's merchandise exports rose to $331 billion.

"Fortunately, the order book position of Indian exporters are very encouraging. The less volatility in our currency has also been a positive factor. The liquidity is also improving though we still have a lot of distance to cover."

Besides, the infrastructure improvement and initiatives on the logistics front will impart further competitiveness to Indian exports, he said.

"If the global situation improves, which is likely in the first half of 2020, we may look for 15 per cent growth in exports during the next financial year," he said.