Small exporters feel the pain as Indian rupee slides to an all-time low

Weaker currency makes some customers to demand benefits or discounts, rue exporters

exporters, shoes

The main challenge is to ascertain what the value of the rupee will be in the next few months, as payments are made at a later date, an exporter says

Shreya Nandi New Delhi
The Indian rupee sliding to an all-time low is often considered a boon for India’s exports. Smaller exporters have a different story to share.

Agra-based leather footwear exporter Gopal Gupta who has been grappling with challenges and uncertainty fuelled by the Russia-Ukraine conflict that has resulted in high logistics costs, has cancelled orders. A weaker local currency has also led to higher import costs and shrinking margins over the last three months.

“The fact that a weaker currency bodes well for exports doesn’t apply to all. When the rupee depreciates, our customers demand benefits or discounts,” said Gupta.

First Published: May 21 2022 | 06:03 AM IST

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