Strong currency will always be good for exports, says Piyush Goyal

A strong currency reflects the strength of a nation and will support exports, contrary to the general notion that a weak currency supports exports, said Piyush Goyal

A strong currency reflects the strength of a nation and will support exports, contrary to the general notion that a weak currency supports exports, Commerce and Industry Minister Piyush Goyal said on Monday.

“If we want to be a $5-trillion economy, our exports of goods and services will have to be a trillion dollars at least — ideally 25 per cent, but at the very least 20 per cent.  And why I said 25 per cent, because we need to support our import of oil. Therefore, our exports will have to really go up by leaps and bounds, so that we