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New Delhi, Sept. 25 The rising rupee will reduce the growth in export of chemicals and allied products to around five per cent from the current 10 per cent, according to the Chemicals and Allied Products Export Promotion Council.

The worst-hit will be products such as books, glass and glassware, rubber products, paper and granites, said Mr S.K. Ghosh, Chairman of the council.

However, the council is confident of doubling its export to $20 billion from the current $9.8 billion. “After taking into account the rupee impact, we have kept a conservative target of doubling our exports in the next 10 years,” Mr Ghosh said.

In addition to the rupee impact, the exporters will have to cross hurdles such as high cost of power, fuel and capital, non-availability of natural gas and burden of taxation, added Mr Ghosh.

The council will hold its 49th AGM and export award presentation function in the Capital on October 1 in which the Commerce and Industry Minister, Mr Kamal Nath, will participate.

The council was founded in Kolkata, in 1958, with 71 members. It now has more than 4,000 members.

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