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Don't seek cover of weak currency: CEA to companies

NEW DELHI: Chief economic advisor (CEA) to the finance ministry V Anantha Nageswaran on Thursday advised India Inc not to seek protective cover of weak currency as it is not a substitute for productivity and investment in research and development.

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A weak currency can be good for exporters, making their products relatively less expensive for buyers abroad. Nageswaran further said the reliance on weak currency should not be instrumental to boosting exports.

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