The Union government is actively considering various proposals to reduce the impact of rising Indian rupee against US dollars, announced the Union Minister for Commerce and Industry, Mr Kamal Nath has recently informed.

Addressing the members of the CHEMEXCIL at its 33rd and 34th annual export awards function held in Mumbai, Mr Nath said that the problem faced by the exporters due to the nose-diving of Indian rupee has been resolved to a considerable extend.

"However, some more remained to be done to resolve the sufferings of chemical exporters who have lost heavily during export realisation due to the strengthening of rupee, I will try to resolve the same as far as possible."

While complementing the council, Mr Nath said, "CHEMEXCIL has implemented and completed, a host of export promotional activities, which have resulted not only in enhancing exports, but also in creating awareness in the international market. Likewise the educative seminars/buyer seller meets organised by the council in various regions has also created awareness amongst the member-exporters, including Chemical meet 2007."

About the current year's performance, Mr Nath said, "...for the year 2007-08, we have set the target of Rs 13,100 crore for dyes and dye intermediates, Rs 10,900 crore for basic inorganic, organic and agrochemicals, Rs 2,850 crore for cosmetics, toiletries and agarbattis and Rs 1,250 crore for castor oil, which would register a growth rate of 20 percent over Rs 23,408 crore for 2006-07."

About the Indian chemical industry’s growth, Mr Nath said, "Today, India has emerged as a global supplier of dyestuffs and dye intermediates, particularly for reactive, acid, vat and direct dyes. India accounts for approximately 6 percent of the world production."

Mr. Neeraj Sharma

Neeraj Electronics

CEO, Neeraj Electronics
Jorhat, India

Free Member, Joined :06/09/2007
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