INDIAN CLOTHING AND TEXTILE INDUSTRY PUT ON THE RACK BY STRENGTHENING RUPEE
July 1st, 2007
BY RAGHAVENDRA VERMA, in New Delhi INDIA'S US$20 billion turnover garment and textile manufacturing industry is currently going through a major upheaval because of the strength of the Indian Rupee, which has risen by 10% on most exchange markets in the last six months. Half of the industry's manufacturers cater to exports and they have been are badly hit by the appreciation. The Indian government is trying to buffer their losses with subsidies and long-term development programmes. "The situation is critical and only those companies that have strong financial ...
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