§ 94. Mr. BENNETTasked the Secretary of State for India if he has any information showing that the currency policy recently adopted by the Government of India is stifling the export trade of that country?
§ Mr. FISHERThe introduction of the new policy which owing to the low level of the American exchange in February entailed a steep rise in the sterling exchange value of the rupee, was, not unnaturally, attended by considerable dislocation in Indian trade. But the Secretary of State has no information to suggest that the export trade is suffering to the extent that would be implied by the last words of the question. The situation is being carefully watched and recent indications point to a material improvement in the position.