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The RBI’s decision to increase the repo rate is contrary to industry expectations, said the President of Tirupur Exporters’ Association A. Sakthivel.
Expressing disappointment over the 25 basis points increase in repo rate, he said: “This will certainly affect the besieged export sector. We will loose our competitiveness,’’ he said and stressed the need for a level-playing field to compete in the global market.
He reiterated the need for a separate chapter for the export sector and implementing the Padmanabhan Committee report to ensure protection to the export sector.
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