New
Delhi: The National Manufacturing Competitive Council
(NMCC) has expressed concerns over the impact of appreciating
rupee on the manufacturing sector, especially small and
medium enterprises (SMEs).
"The
rupee has appreciated by around 10 per cent in past 12
months, which is hurting the manufacturing sector, especially
the SMEs. This is a cause of concern," Dr V. Krishnamurthy,
chairman of the National Manufacturing Competitiveness
Council, told reporters on the sidelines of a press conference
here on Tuesday.
He
added that though the Government was looking into the
issue, the SME sector needed to be provided with quick
relief, as it represented close to 65 per cent of the
manufacturing sector.
Dr
Krishnamuthy, a former industries secretary, has been
associated with managerial excellence during his stewardship
of public sector giants BHEL, SAIL and Maruti Udyog when
it was jointly owned by the Indian government and Suzuki.
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