Union minister for commerce and industry Kamal Nath today said that the government may fix the export target for the next fiscal may to around $200 billion, though the precise target was likely to be announced by the end of March.

Speaking on the sidelines of a Federation of Karnataka Chambers of Commerce and Industry (FKCCI) meeting, Nath said, a 20 per cent growth over the current fiscal's export target of $160 billion could be realistic.

However, the significant appreciation of the rupee against the dollar was expected to impact exports by around $10 billion.

To reduce exporters' exposure to the US and the European Union markets the government has been examining trade opportunities in East Asia and Africa.

Nath said the expected slowdown in the US economy would remain a cause for concern, adding that the growth in the domestic market had been satisfactory.

He pointed out to the strong resistance to the proposals to reduce customs duty across the board and therefore these issues would have to be addressed on a country by country basis.

To counter ASEAN countries challenge to Indian agriculture , he said the government could consider reducing customs duty on various products from other countries provided they reciprocated on goods imported from India.