The government on Wednesday ruled out revising the export growth target downwards in the wake of rupee appreciation and said it was slated to grow at 12 per cent during this fiscal.

"We are sticking to our targets and not revising them, as we are reasonably confident of 12 per cent growth in exports this fiscal," L Mansingh, director general of foreign trade, said on the sidelines of a Confederation of Indian Industry conference in New Delhi.

Exports grew by 10 per cent at $27.43 billion in the first half of this fiscal, from $24.94 billion during April-September 2002.

After a sluggish growth in August, exports bounced back in September this year to post 16 per cent growth at $4.98 billion as against $4.29 billion a year ago.

But the cumulative export growth is yet to touch the targeted 12 per cent mark.

"We are fairly confident that exports will do well. We are comparing this fiscal's performance with the spectacular growth of 20 per cent last fiscal," Mansingh said.

He sought to allay fears that the rupee appreciation against the greenback was hurting India's external trade, saying the country was in a better position in terms of non-oil imports like edible oils.

"Exporters are competitive enough to take the growth to a high level," he added.

The DGFT also said government was considering merger of the duty exemption pass book scheme with the duty drawback schemes by 2004-05 and come up with a uniform scheme, which would take care of the needs of all segments of industry.

"As both DEPB and duty drawback schemes are post-export schemes, they would be merged and a uniform scheme would be launched," Mansingh said.

He said the government was reviewing the DEPB rates and it may come down on some items in tandem with the reduction in tariff rates.

The DGFT was also planning to introduce a system whereby online approval of licence would be granted from next fiscal, he said.

Reacting to queries on flexible labour norms in special economic zones, he said the success of such zones depends on their competitiveness and it was necessary to have such laws in order to boost employment generation.

"The priority is to generate employment. Job security will depend on skill and not laws," he added.