New Delhi: India has exceeded its export growth target of $250 billion, transforming it into a major 'engine for growth', Minister of Commerce and Industry Kamal Nath said here Tuesday.

"Growth in exports is necessary for the country to achieve 10 percent GDP (gross domestic product). Exports form a vital part in a country's growth," he told a gathering at the inauguration ceremony of Niryat Bhawan, the building housing the Federation of Indian Export Organisations (FIEO).

The minister congratulated FIEO members for their hard work and urged them to open branches all over the country.

This new building will also serve as a prime centre for the Export Promotion Council (EPC), the minister said.