Rupee slide is not a concern as much as volatility is: Commerce secretary

However, dwindling exports is an important concern, its due to constraints of demand

Union commerce secretary Rajeev Kher on Wednesday said slide in rupee per se is not too much of a concern for exports at this moment. However, he noted that it can be a concern if there is too much of a volatility in rupee because that causes the exporters a problem. Kher was speaking to reporters after an interaction with exporters on new foreign trade policy 2015-20.

On dwindling exports, Kher said it is an important concern and is quite discouraging. "But we are also cognizant of the fact that all around economies are declining and global demand is less. So we should clearly recognise that there are constraints of demands. So while i am concerned about the fact that exports have gone down, I am also cognizant of the global situation. We will work internally to see that how to become competitive," he added.

Kher said the ministry has not fixed any target for the current fiscal. However, he informed that the export target for five years is $900 billion, including both merchandise and services.

"Global situation may not be improving today but i am sure that global situation is not going to be the same for next five years. So at one point in time it will start looking up. Then we will look at our target," Kher said.