Chennai, Aug 14 (IANS) The government is aware of the impact of Chinese yuan devaluation on Indian exports and would take steps to prevent dumping of Chinese goods into India, Commerce Minister Nirmala Sitharaman said on Friday.
“The devaluation of Chinese yuan is a serious issue. It can lead to a situation where China can push its products into India. Indian exports may come down and our exporters may face greater challenge,” Sitharaman told reporters here.
She said the government would take steps to stop dumping of goods by China.
According to Sitharaman, the government was monitoring several sectors that might be affected by the Chinese yuan devaluation.
She said the government was also talking with industry bodies on the issue.
The minister also said China wanted its currency as one of the global reserve currencies.
She said that owing to the global economic conditions, the Indian exports have come down by six percent.
Sitharaman declined to comment whether there would be a special session of parliament to pass the Goods and Services Tax (GST) bill.
She blamed the Congress party for stalling the passage of several economic legislations like the GST bill, Land bill and others.
Coming down heavily on the Congress party for stalling the functioning of parliament, Sitharaman said the party is not able to digest the fact that BJP has got the people’s mandate to rule the country.
She said one minster and four members of parliament of BJP would hold public meetings in each of the 44 Lok Sabha constituencies held by the Congress party and inform people of the government’s stand and the anti-democratic stance of Congress.
Sitharaman also said that similar meetings would be held in the six Lok Sabha constituencies held by the communist parties.