FIEO welcomes new RBI Governor

Ludhiana , December 12

Welcoming the appointment of Shaktikanta Das as the new RBI Governor, Ganesh Gupta, President, Federation of Indian Export Organisation (FIEO), said his previous tenure as Revenue and Economic Affairs Secretary would come handy in dealing with the economic issues confronting the country.

Gupta said the new governor would act as an effective bridge between the government and the Central bank so as to give necessary boost to the Indian economy. Das would be able to address the concern of the states having worked in the Finance Commission, said the FIEO president.

FIEO chief hoped that the new Governor would also ensure the flow of credit to exports sector, which is declining sharply on year-to-year basis, affecting the liquidity of exporters, particularly the MSMEs.

While exchange rate is market driven, Gupta propagated for RBI intervention to stem extreme volatility in rupee as it is neither beneficial for exporters nor importers. — TNS