“India’s economy is on strong footing…”: Piyush Goyal on depreciation of rupee against dollar

Follow us on

He said capital inflows, consumer spending, and various economic levers have demonstrated considerable positivity.

Goyal, who was answering a query on the depreciation of the rupee against US dollar, said the Indian economy continues to power on.

“Growth is at 8.2% even in Q2, beating all estimates. We have seen the lowest-ever inflation in the last few months. Foreign exchange reserves continue to be strong. Capital inflows and investments in infrastructure, consumer spending, all the levers of the economy have demonstrated a great deal of positivity. Merchandise exports are also on a strong wicket…If I aggregate October and November, there is growth in merchandise exports despite the global turmoil,” he said.

“This only goes to show that the economy is on a strong footin