a dampener for the manufacturing sector and "this will also impact the exports. The cost of credit for exports remained much above the international benchmark blunting the competitive edge of our products".
On trade with Iran, he said that the government should increase rupee trade with Iran. "Exports have already touched USD 2.45 billion in first six months of 2013-14. We are likely to touch exports of USD 6 billion. The mechanism has allowed to diversify India's exports to Iran," he added.
However, Indian exporters are facing challenges such as lack of shipping facility and delay in issuance of letter of credit by banks in Iran, Ahmed said.