Rupee decline fails to aid textile exporters amid US tariffs
after close1 source ↓written by the desknot a recommendation
- year-on-year
- 13%
- in October
- $2.67 billion
- against the US
- ₹90.14
- have severely impacted
- 50% US tariffs
- valued
- $37 billion
India’s textile and apparel exports dropped 13% year-on-year to $2.67 billion in October, according to the Confederation of Indian Textile Industry. Despite the rupee hitting a record low of ₹90.14 against the US dollar, 50% US tariffs have severely impacted export volumes and margins, leaving exporters with minimal relief.
The sector, valued at $37 billion, struggles to benefit from currency depreciation due to these tariffs, highlighting the ongoing challenges in the trade environment.
Not investment advice. For informational purposes only.