The Indian rupee (INR) today rose to below 71 a US dollar, extending gains to the seventh day. Opening at 71.01 a dollar, the rupee traded in the range of 70.86 to 71.15 to a dollar.
India's merchandise exports declined 6.05 per cent in August on a year-on-year basis.
Over 6 percent decline in exports in August reflect worsening global economic conditions and point to further downward revision of global trade growth, said exporters association FIEO
The Centre of Indian Trade Unions (CITU) urged the Central Government to bring about reforms in the Goods and Services Tax to protect micro, small and medium enterprises (MSMEs).
GST registration enables goods and service providers to collect GST from their customers.
The Tamil Nadu Chamber of Commerce and Industry yet again appealed to the Central government to simplify the Goods and Service Tax as it believes that is the cause of the sluggish economic growth.