NEW DELHI: The rebound in exports in Nov will help erase the dip seen in Oct, commerce and industry minister Piyush Goyal said Wednesday. Although there was no mention of the exact figure, he said, “If I aggregate Oct and Nov, both months show growth in merchandise (exports) despite all the global turmoil. This only goes to show that the economy is on a strong footing.”In response to a question on the record low of the Rupee, the minister said Indian economy was on a strong footing and would continue to power up. “Growth we just saw is at 8.2% even in the second quarter, beating all estimates. We have seen the lowest ever inflation in the last few months. Foreign exchange reserves continue to be strong, and all the levers of the economy have demonstrated a great deal of positivity.”At a CII event, the minister called for strengthening supply chains and preparing for global volatility with a “twin approach,” building on areas where it holds a comparative advantage while simultaneously achieving strategic autonomy in sectors where supply-chain dependence can threaten long-term resilience.He also said the future of manufacturing lies in being nimble, with companies that innovate, invest in R&D, and build secure, efficient supply chains surviving, while “those who remain in their cocoon of low competition protected economies will gradually start fading.”
