Kolkata, Nov 18: Appreciation of the rupee against the US dollar was adversely affecting the country's export growth, Union Commerce and Industry Minister Arun Jaitley said today. The strengthening of the rupee vis-a-vis the dollar was a cause for concern, Jaitley told reporters after inaugurating the International Trade Facilitation Centre here.

However, he said there were other positive signs also, adding that recovery of the US economy in the third quarter would definitely come as a boon to India's export community.

Asked about the export growth rate in the first half of the current financial year, he said it was about ten per cent.
He said in the last financial year, despite various adversities, the country had been able to achieve export growth of 18 per cent. The target set this year on a broader base was 12 per cent, he added.

Bureau Report