Please fill in your details to download the Table of Contents of this report for free. We also do customization of these reports so you can write to us at email@example.com in case you need any other additional information.
One of the reasons for decline in rupee value is outflow of money from prospective foreign investors, said the representatives of textile associations.
“The fall in Indian rupee is good news for the export industry. With the rupee depreciation and rise in dollar value, we are expecting improvement in the export of garments, at least for short run. But, India will be at loss if there is greater fall in values of currencies from other major emerging markets,” Ajay Sahai, Director General and CEO of Federation of Indian Export Organisations, told Fibre2Fashion.
“Rupee depreciation has definitely helped garment-oriented exports. However, the gain is only for a short-term as we have been experiencing this kind of situation since last few years where the rupee falls by the end of the year end and the value begins to increase within few days. Hence, most of the exporters are a bit unhappy with this rupee depreciation. The issue with short-term depreciation is that buyers who place the order in the next term use the old value to negotiate. We lose price due to uncertainty of our money value,” said Raja Shanmugham, president, Tirupur Exporters’ Association.
While talking to Fibre2Fashion, Shanmugham added, “Fearing such a situation in the future, a large number of the garment exporters took forward cover as a hedge against currency instability.”
“Market situation of the Western countries is also not good. Savings rate has also improved in the US and Europe. As of now, consumers are spending very low on garments. Hence, fall in rupee value is just a ray of hope to catch up with the export business. It will benefit us only if the situation sustains for a longer term,” said Rakesh Vaidya, former chairman of Apparel Export Promotion Council. (RR)
Fibre2Fashion News Desk – India
| On 28th Nov 2020
Small energy efficiency working groups (SEEWGs) of three top tier...
| On 28th Nov 2020
Pakistani Prime Minister Imran Khan recently directed the commerce...
Rwanda's textile and garment sector grew 83 per cent in value between ...
GST has levelled the playing field to an extent
Social media critical in regeneration of businesses
Indo Count Retail Ventures
Today, there is no other emerging market as India, "we make in India and...
Yash Jain & Sanjeev Jain
Divyam Export, launched about 30 years ago, exports to 15 countries,...
With production sites in Klagenfurt and Kufstein, Zimmer Austria is a...
Switzerland-based Uster Technologies AG is the leading high technology...
Technical Absorbents Ltd
Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...
Fitesa is a leader in the nonwoven fabrics industry, specialising in...
Voith Paper GmbH & Co. KG
The glass mat industry is growing by five to eight per cent annually. Kai...
Label Ritu Kumar
‘Classics will return’
"There are a lot of people wearing western clothes ...
Bridal couture created with rich Indian heritage, exquisite craftsmanship...
<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.