New Delhi, Oct 20: Commerce and Industry Minister Arun Jaitley today said that the appreciating Rupee was putting pressure on exports but it would not be of much concern as long as exports growth remains ahead of GDP growth. "Initially, appreciating rupee had been factored in. There has been pressure due to strengthening of Rupee but as long as export growth is ahead of GDP, it does not concern much," he said on the sidelines of the Indo Romanian Joint Commission meeting.
Cumulative exports in the first five months was put at USD 22.5 billion as against USD 20.6 billion.
In Rupee terms, the exports growth was only 4.1 per cent during April-August and in August it was worse, recording a negative 1.5 per cent growth over the corresponding period in the previous year.
Bureau Report