With its domestic marketshare falling, India's largest carmaker Maruti Udyog Ltd is eyeing a greater share in exports market targeting a 55 per cent growth this fiscal.

On the back of strong demand of its 'Alto 1.1' compact car in Europe, the company expects to export 50,000 cars during 2003-04, which will be the first in India's automobile history.

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The company also expects to start exports to the Middle East and Far-East Asian countries this year, according to the annual report for 2002-03.

Maruti's total revenue from exports soared by 181.1 per cent to an all-time high of Rs 610.7 crore (Rs 6.11 billion) as volumes soared by 163 per cent to 32,240 units during fiscal 2003.

"The outlook for 2003-04 is very bright. We hope to touch even bigger sales (50,000 units for the first time in the history of automobile market in India," Maruti, which is majority owned by Japan's Suzuki Motor Corporation, said.

The company now has firm order of over 19,000 units of Alto till August 2003 for European markets like Netherlands, Austria, Belgium, France, Germany, Italy and UK.

It has also experienced good demand from other markets like Bangladesh, Algeria, Costa Rica and Sri Lanka.