Finance minister Nirmala Sitharaman on Monday said though a depreciating rupee should theoretically help India’s exports, under currency slump in external demand, the fall in the local currency may or may not help the country’s exports.
“Some people do also speak that a falling rupee also helps exports. Whether it does or doesn’t, theoretically it may, but in today’s condition, with recession outside and demand not really as adequately as it should be, even a fall in the rupee may or may not help our exports. We are conscious about these basic facts,” Sitharaman said while answering a question at an event organised by CNN-News18.
On rupee touching a fresh low, Sitharaman said because of the strength of India’s