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Rising rupee hits textile & handicraft sector
28
Feb '08
Although, Indian currency is on a sturdy rise, yet its effect on the exports is negative. The products which have been worst affected include leather, textile and handicraft.

According to the statistics, till December 2007, there has been decline in the exports of handicraft, which came down by nearly 75 percent and carpets that faced a downfall of almost 37 percent, in comparison to same time last year.

Experts believe that, sectors that are labour-intensive, import less and value addition is minor are the ones, which have witnessed the impact of rupee appreciation the most.

One of the major reasons of growth in country's trade deficit is boost in import of capital goods and raw material, along with augment in petroleum products. India's trade deficit, presently is around US $57.8 billion.

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