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Updated: August 30, 2013 23:06 IST

Global turbulence hits project exports

Special Correspondent
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T. C. A. Ranganathan
The Hindu T. C. A. Ranganathan

Export-Import Bank of India Chairman T. C. A. Ranganathan, on Friday, urged exporters to explore new markets.

India’s export performance had been good this year, he said. It was too early, however, to say whether exporters were taking advantage of the current market situation, he added.

Addressing the media , he said that India was able to increase exports at a time when world exports had dropped. He described the current environment as turbulent. Though the situation was easing in Europe, the environment was difficult in West Asia, he added. Project exports, in particular, could be hit.

On the rupee volatility, he said that while EXIM Bank was not affected directly, its cost of raising funds could increase. “Right now, we have enough liquidity to lend… we will time our raising as per the market,” he said.

Keywords: RanganathanEXIM Bankexportimport

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