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Dip in export growth a transient phase: Jaitley
October 22, 2003 17:43 IST
The government on Wednesday termed as "transient" the dip in export growth in August and said the trend would be known only in the coming months.
"This (the dip) is transient...you wait and see what is the trend in the coming months," Commerce and Industry Minister Arun Jaitley told reporters on the sidelines of a Federation of Indian Chambers of Commerce and Industry seminar in New Delhi.
The export growth slowed down to 4.1 per cent in August apparently in the wake of appreciating rupee.
In rupee terms, the exports growth was only 4.1 per cent during April-August, and in August it was worse, recording a negative of 1.5 per cent growth over the corresponding period in the previous year, according to the latest trade data.
Worried over the appreciating rupee and its subsequent impact on exports, leading exporters are meeting the commerce secretary on Wednesday.
Earlier, Jaitley had said that the hardening rupee was putting pressure on exports but there was no cause of worry till the growth was above GDP.