The Hindu : National : Chidambaram to meet exporters on Nov. 15

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Monday, Nov 12, 2007
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Chidambaram to meet exporters on Nov. 15

Special Correspondent

NEW DELHI: With the rupee steadily hardening against the U.S. dollar, Finance Minister P. Chidambaram is scheduled to meet the chiefs of various export organisations on November 15 to evaluate the impact of the currency’s appreciation .

Apart from senior representatives of the Federation of Indian Export Organisations (FIEO), chiefs of export promotion councils (EPCs) pertaining to the various severely affected sectors such as textile, gems and jewellery, engineering and electronics are also slated to participate in the meeting in view of the sharp erosion in profit margins.

A day ahead of the meeting with Mr. Chidambaram, the affected exporters’ delegation is expected to have a meeting with Commerce Secretary G.K. Pillai to apprise him of their problems and seek the Ministry’s support for mitigating their grievances.

Rupee appreciation

Since January , the rupee has appreciated by about 12 per cent against the dollar and this has not only sharply eroded export margins but also affected the competitive strength of various players against China in developed markets such as the U.S. and Europe.

The Commerce Ministry, however, has been seeking more relief measures for exporters to help them tide over the problem.

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