The average export growth of around 10 per cent during the April-October period augurs well despite the hardening of the rupee. The rupee's hardening no doubt is an adversity as far as exporters are concerned, but viewed as an economic indicator, it is a welcome sign, Mr Arun Jaitley, Union Minister for Commerce & Industry, has said.
Speaking after inaugurating Kolkata’s first hi-tech International Trade Facilitation Centre (ITFC), Mr Jaitley said the growth target of 12 per cent was very much in focus. He said all the economic indicators were pointing towards positive growth, and exports should thrive in this environment, even if imports become costly.
In the case of exporters who import major inputs for export production, a hardened rupee was a welcome sign. However, he cautioned that trade inefficiencies added to costs.
