India Strong Rupee Gives Textile & Apparel Exporters the Woes

摘要

The textile industry (including apparel) in India have been growing in recent years supported by vigorous domestic demand and expanding exports, not to mention the elimination of quotas, but the sharp appreciation of the Indian rupee against the US dollar in 2007 has caused setbacks for exporters. The Indian rupee has been appreciating slowly during the last few years, but the appreciation really became sharper from March 2007, and compared to the beginning of the year, the Indian currency was about 15% stronger by December. This has had a serious impact on deteriorating the country's export competitiveness and thus stunting or decreasing exports.