Commerce Minister Kamal Nath said 20 lakh people may face unemployment if remedial measures were not taken.
Government says as many as 20 lakh people may become jobless in the export sector if remedial measures were not taken due to rupee appreciation in the last one year.
Between October 2006 and October 2007, rupee has appreciated by 15 per cent against the US dollar, increase in flow of dollar and global decline in the value of the US currency were the main reasons.
Commerce Minister Kamal Nath said that the government is considering fresh sops for the export sector and a proposal to this regard may be placed before the Cabinet soon.
Via – Rediff