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India's PM hopes weaker rupee will boost exports

30 August 2013 Last updated at 12:24 BST

The falling value of the Indian rupee is "a matter of concern", Indian Prime Minister Manmohan Singh has told parliament.

The rupee hit a record low against the dollar on Wednesday and has fallen more than 20% this year.

That fall is damaging for the economy, as India imports large amounts of fuel and foodstuffs and the weak rupee makes those imports more expensive.

Speaking to BBC World from a car parts factory in Mumbai, Sameer Hashmi said Mr Singh hoped the weaker rupee would boost exports.

He said industrialists had seen weaker trade: "Clearly all the major pillars of India have been hit - consumer demand, foreign investment - and they hope that will pick up in the days to come"

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