Indian markets well regulated: ChidambaramNovember 14th, 2007 - 3:00 am ICT by admin
He also said the government had also helped exporters to cope with the appreciation of the rupee by providing an export package of nearly 1.27 billion dollars to 1.39 billion dollars.
“Exports are still growing at about 18 or 19 percent a year. In the long run, exporters have to learn to live with a competitive exchange rate. What we are concerned about is the rapid appreciation of the rupee, and the government has responded. In fact, the government has acted very swiftly in giving them on three separate occasions, relief packages which altogether amounts to approximately 5,000, 5,500 crore,” he said.
Market regulator Securities and Exchange Board of India had curbed issuance of participatory notes used by unregistered investors to invest in Indian shares, saying it wanted flows to be transparent.
Earlier, the Minister had said, after the curbs were proposed, that India wanted to moderate inflows to avoid a stock market bubble.
Foreign capital has surged into India this year, attracted by rapid growth, pushing the rupee to its strongest against the dollar since 1998 and powering the stock market to record highs. (ANI)
- Government can do little to check rupee slide: Rangarajan - Dec 14, 2011
- Rupee hits new low for third straight session (Roundup) - Dec 14, 2011
- RBI intervenes as rupee slides to new low (Roundup) - Dec 15, 2011
- Exporters worried over foreign fund inflow - Oct 17, 2010
- Rupee slide continues: hits new low of 54.60 against dollar (Lead) - May 17, 2012
- Rupee hits record low of 56.55 against dollar - Jun 21, 2012
- Weak rupee will hurt software exports in long-term - Nov 23, 2011
- Rupee falls for eight straight day - Nov 23, 2011
- Rupee falls on IIP figures, impact of RBI action muted - May 11, 2012
- Tough year for realty, no respite seen in short-run (2011 in Retrospect) - Dec 29, 2011
- Rupee to stay volatile on uncertain economic outlook - Dec 18, 2011
- RBI will intervene if inflows turn lumpy: Subbarao - Oct 15, 2010
- India Inc has to live with dollar at Rs.50: Kaushik Basu - Jul 07, 2012
- Rupee recovers from record low but outlook gloomy - Dec 13, 2011
- P-notes holders will not be taxed: Mukherjee - Mar 30, 2012
Tags: appreciation, billion dollars, chidambaram, crore, curbed, curbs, exchange board, indian markets, indian shares, jet airways, launch, market regulator, mature market, participatory, regulated market, rupee, securities and exchange board of india, stock market bubble, volatility