The rising Rupee has finally started takes its toll. Exporters are losing export orders and the order book position of the Indian exporters looks bleak, as the strong Rupee has priced out Indian exporters from the market, according to the latest FICCI Survey on Exports.
The FICCI Survey conducted during January 2008 says that the adverse impact of the rising Rupee is being felt by all the exporters with almost all (98%) of the participating companies reporting that the appreciating Rupee is impacting their export performance.
The present survey saw participation from 293 companies with a wide geographical and sectoral spread. The turnover of the companies that participated in the survey ranged from Rs 1 crore to Rs 15,000 crore and the companies represent sectors like automotive, consumer durables, food and food processing, leather, marine products, gems and jewellery, FMCG, textiles, handicrafts, metal and metal products, heavy engineering, IT, pharmaceuticals and chemicals.
The FICCI Export Survey points out that the relief measures announced by the government have been found to be completely inadequate with a large proportion of exporters complaining of significant administrative problems they have to deal with to avail of the benefits.
Several exporters have complained that the cost of availing the benefits in terms of time involved simply outweighs the benefits.
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Federation of Indian Chambers of Commerce and Industry
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