Government keeping close watch on rupee movement : Nirmala Sitharaman

New Delhi : 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. Talking to reporters in New Delhi on Friday, Sitharaman said global demand is not rising and this is impacting the country’s exports. She added that along with incentives to exporters, global demand would have to pick up in order to boost the country’s exports. Replying to a question on e-commerce, Sitharaman said her ministry has sent reminders to all states on the issue. She said, her ministry is also discussing other related issues with the state governments. 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. 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.