The order books are full for the textile sector. Since our competitors have higher levels of inflation, for example in China, we believe that prospects are improving for our exporters. Our export revenues reached a record level of 15.2 billion rupees in the first quarter of 2011 (quarter on quarter) compared to the last five years.
I am pleased to have this opportunity today to talk about recent economic and financial developments and about the Bank’s conduct of monetary policy. I. Economic and Financial Developments I will first explain recent economic and financial developments. Japan’s economy has picked up as a trend, although some weakness has been seen in part, mainly due to the impact of the novel coronavirus (COVID-19).