Why the falling rupee failed to arrest a 7-month decline in apparel exports

Lack of export benefits under GST renders Indian exporters uncompetitive globally

Despite rupee depreciating against the greenback by almost 6 per cent in recent months to trade around Rs 68 per US dollar, India's apparel exports have not benefited from the trend, resulting in a 22.76 per cent fall for the month of April in dollar terms, sliding for the seventh consecutive month. 

April 2017 saw ready-made garment (RMG) exports worth $1.747 billion, whereas the number declined by 22.76 per cent to $1.349 billion in the same month this year.

Apparently, RMG exports have fallen for the seventh consecutive month since October 2017, a result of Goods and Services Tax (GST) rendering Indian exporters