March 13, 2016 12:47 PM

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India's exports doing quite well in comparison to other emerging markets, says RBI Governor

RBI Governor Raghuram Rajan has said, Indian exports are doing quite well as compared to other emerging markets. Addressing the first Ramnath Goenka Memorial Lecture in New Delhi yesterday, Mr Rajan said, even though Indian trade has been slowing, the slowdown is similar to what has been happening elsewhere, with a significant portion due to a fall in commodity prices and a smaller share due to a fall in trade volumes.<br/><br/>India's exports have been falling continuously since December 2014. It has dipped for a 14th month in a row, down 13.6 per cent in January to 21 billion US dollars due to fall in shipments of petroleum and engineering goods.<br/><br/>The RBI Governor said, the shipments can only be increased by raising productivity, improving infrastructure and simplifying regulations, which is in the domain of the government. He brushed aside the contention that exchange rate is impacting exports. He said, the orderly movement of exchange rate can be maintained by good policies that ensure macroeconomic stability, stable capital flows and encouragement to foreign investors through policies like 'Make in India'.<br/><br/>

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