Sitharaman says government keeping close watch on rupee movement

Commerce and Industry Minister Nirmala Sitharaman has said that the Centre is keeping a close watch on the rupee movement and its impact on the country's trade.

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Talking to reporters in New Delhi on Friday, Sitharaman said global demand is not rising and this is impacting the country's exports.

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She added that along with incentives to exporters, global demand would have to pick up in order to boost the country's exports.

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Replying to a question on e-commerce, Sitharaman said her ministry has sent reminders to all states on the issue.

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She said, her ministry is also discussing other related issues with the state governments.

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In a recent meeting, states have suggested that the interest of small retailers and consumers should be protected while promoting foreign direct investment in retail and e-commerce.

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On how China's economic slowdown can become an opportunity for Indian industry, Sitharaman said many small producers depend on raw materials coming from China.