Rupee appreciation begins to pinch textile exporters as orders dry up

Currency appreciation is leading to a gradual shift in orders to other parts of the world

T E Narasimhan & Vinay Umarji  |  Chennai | Ahmedabad 

Orders are drying up for textile exporters because of rupee appreciation relative to the dollar and the weakening of competing currencies such as the euro and the Chinese renminbi. This comes at a time when the Indian textile sector, the country's second-largest employment generator, is facing pressure because of the introduction of the goods and services tax (GST) and increased global competition. With their global peers becoming competitive owing to their depreciated currencies, Indian textile and apparel exports are becoming costlier, leading to a gradual shift in orders ...

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