Dubbing currency fluctuation as the new normal, Sitharaman asks exporters to focus on other factors

New Delhi, Apr 22 (KNN) Commenting on the rising distress among the exporters regarding the fluctuation of rupee against dollar, Nirmala Sitharaman, Commerce and Industry Minister said that this has become the new normal.

The Minister said this during a Mand Mine summit in New Delhi on Thursday.

Talking on the matter further she said that the value of currency is just one factor and the exporters In India by now have learnt to take into account currency fluctuation while marketing their shipments. 

The Minister indicated that the strengthening of the domestic currency against dollar makes export competitive as per unit realisation falls.

She further said that the problem with the currency isn’t limited to India, but countries across the globe are facing it and are adapting to it.

This statement comes at a time when exporters in the country are worried about the strong currency.  The rupee has appreciated by 5 per cent against dollar in last four months.

Earlier this week various Exporters Associations including Engineering Export Promotion Council of India (EEPC) and TMA International had voiced their concerns over the matter, seeing the sharp rise in currency rate as a bad indicator for the exports. (KNN/ DA)