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Managing debt - Core issue facing Indian textile industry
31 Aug '12
3 min read
Speaking about the real issues affecting Indian textile industry, he says, “Just to avoid high rupee interest rates, companies had resorted to foreign currency borrowings. Now since the rupee has depreciated so high, all the calculations have gone haywire. This is like a vicious cycle”.
“Today the current situation has come about more so because of the decisions of individual companies related to corporate governance standards rather than the current economic situation. I would assign 70 percent to companies and the rest to the economy for the troubles affecting the textile industry”, he wound up by saying.
Fibre2fashion News Desk - India
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