Rupee at 80: Textiles, gems & jewellery upbeat, but gains may not sustain

With the rupee breaching the psychological barrier of 80 to a US dollar, both gems and jewellery, and the textile sectors are upbeat. The caveat, however, is that the gains may not be outright, and for some may be short-lived.

Textiles & Readymade Garments

Textile industry players indicate that the weak rupee will help the industry, which is a net exporter, to the extent of 5-10 per cent rise in profit margins. However, industry sources also say that the gains may be short-lived as customers will demand revised rates in upcoming orders.

“Textiles is a net exporter; hence