Downplaying the impact of the
global meltdown, Commerce and Industry Minister Kamal Nath on Monday exuded confidence that exports would continue to grow by 30 per cent even this month, though the financial crisis may slow down FDI inflows.
"Because of the liquidity crunch globally, some investments in the future may be affected," he told reporters.
He was, however, quick to add that the effect would be minimal and "at least for this year we will achieve our (FDI) target." During the current year he estimated that FDI inflows would surpass the target of $35 billion.
Nath said exports continue to be robust, witnessing a 30 per cent growth. "Exports have gone up by 30 per cent and even this month I feel the exports will go up by that much," he said.
The minister said rupee was depreciating against the dollar because of continuous
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