Interviews
Indian textile & apparel exporters rejoice over rupee fall
22 Jun '13
3 min read
Mr Pandwar hopes it may depreciate further to Rs 62 in the next six months, but thinks it more probably may reverse trends and appreciate from those levels. Mr Ajay Kaila expects the rupee should hold ground around 60 to a dollar, but adds that it all depends on current account deficit, inflation and balance of payments.
Though the gains are apparent, but will global textile and apparel importers not extract their pound of flesh. Imports of textile raw materials will also become costly.
It becomes apparent, when Mr Mahendra Seth – CFO of Mumbai-based Sarla Fibres says, “Depreciation of the rupee is always welcomed by us as we are a 100 percent EOU. However, we also expect our importers to put pressure on us to reduce prices”.
On the impact on textile raw material imports, Mr Paritosh Agarwal – Director of Hyderabad based Suryalaxmi Cotton Mills avers, “Raw material prices have already started climbing and for those importing in huge quantities, the gains may be pared because of the rising costs of imports.”
Fibre2fashion News Desk - India
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