Amidst slowdown in global markets, India's exports are in a sort of downtrend. In fact, in FY13, exports fell 4.4% YoY as the demand from overseas markets remained muted. However, it seems that a revival is on the cards this year. The government is confident that exports will increase by 10% YoY this year. However, exporters are confident that the growth figure could be in the region of 20-25% YoY. And there are many reasons for this optimism. The US economy is already showing some signs of revival. It may be noted that US is the largest market for India's clothing exports. Thus, a revival there indirectly helps India's exports. However, European Union is still a cause of concern. Nonetheless, India's dependence on Europe has declined in recent times. Also, increasing exposures to countries like Africa and Latin America that are relatively less impacted by the global slowdown is likely to help boost exports. Overall, it seems that in FY14 export growth is likely to be strong. This should help curb current account deficit provided gold and crude prices do not increase.