PM to help rupee hit textile industry

Acknowledging that the rupee appreciation has created some problems for exporters, the government on Tuesday assured the textile industry of addressing all its legitimate concerns to generate more employment.

"I am aware that the strengthening of the rupee has created some strains for our exporters," Prime Minister Manmohan Singh said at the golden jubilee celebrations of the Confederation of Indian Textile Industry.

He said the government would come forward and address all legitimate concerns of the textile industry as long as, "we can work together to generate more employment."

However, the Prime Minister exuded confidence that the textile sector has the enterprise and business acumen to deal with the challenges posed by rupee appreciation and improve its competitiveness.

"Here too we have taken steps to help mitigate the laws of competitive advantage while ensuring that our external economic management is stable and sustainable." he said.