India Likely To Miss Export Aim By $15Bn

New Delhi: The country is likely to miss the export target of $160 billion for 2007-08 by at least $15 billion due to the beefing up rupee, an Assocham study has said. The study, which dealt with the currencies of various countries, found that the rupee appreciated by 8.35 per cent between January and June this year, second only to the 9.25 per cent appreciation of the Brazilian real in the same period. The Thai Baht strengthened by 7.56 per cent, the Russian rouble by 2.08 per cent and the Chinese yuan by 1.82 per cent. The appreciation and derogation vis-a vis the dollar, of all these competing countries, is a determinant and key parameter of the growth of Indian exports.