Rising rupee a concern; Indian exporters will be protected: Commerce and industry minister Kamal Nath
21 Sep 2007
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Union commerce and industry minister Kamal Nath has expressed concern over appreciating rupee and has assured exporters that he will protect their interests.
Despite the rupee breaching the Rs40 mark against the dollar, and strengthening to its highest level in past nine years, Nath said the ambitious export target of $160 billion for the year would not be scaled down.
"This
is a new situation, which needs a new response. Exports are an engine of growth
and we have to ensure that growth is not affected," Nath said. The rise in
the value of the rupee has left exporters worried. They have been urging the union
government to help them counter the situation.
