Rupee appreciation has invariably affected the Indian market, especially the exporters who had even otherwise succumbed to the inescapable export duties. Saks Internationalproprietor Mrs Srinivasan, told Fibre2fashion “Rupee appreciation has horribly affected us as we mainly deal with foreign countries.”
Expressing concerns over this issue, Kamadhenu Knit Garments has voiced its desire to target the European markets for expanding its marginalized profits.
Mr Karthikeyan, Marketing Manager of Kamadhenu Knit Garments stated that “The Company would definitely like to shift its focus to the European market since Euro currency is at its growing stage creating possibilities for companies to secure greater profits.”
Official from Jhony Garments sharing the same opinion asserted that “Being an export unit, the company is presently exporting to the EU market since the apparel segment there, is booming at an intensified rate.”
Commenting on Government measures like the DEPB rates and Duty drawback, Mr Chandra Kumar, Managing Director of Aalishan Exports said “It is not helping much because instead of 10 and 12 percent duty drawback allowed to be claimed earlier; manufacturers are now receiving only about 6 to 9 percent. Moreover, the Indian cotton industry is also facing serious problems from neighboring countries like Pakistanand China and a further continuation of this trend is likely to incur damage to the exporters.”
Even other export and manufacturing companies strongly believe that DEPB and Duty Drawback policies have not helped much because in spite of the increase in sales, profits have either remained stagnant or declined considerably.
Keeping in mind the present circumstances, it can only be hoped that the Government will take efficacious measures, other then the ones already taken, to help relieve the country from the abysm of rupee appreciation.
Expressing concerns over this issue, Kamadhenu Knit Garments has voiced its desire to target the European markets for expanding its marginalized profits.
Mr Karthikeyan, Marketing Manager of Kamadhenu Knit Garments stated that “The Company would definitely like to shift its focus to the European market since Euro currency is at its growing stage creating possibilities for companies to secure greater profits.”
Official from Jhony Garments sharing the same opinion asserted that “Being an export unit, the company is presently exporting to the EU market since the apparel segment there, is booming at an intensified rate.”
Commenting on Government measures like the DEPB rates and Duty drawback, Mr Chandra Kumar, Managing Director of Aalishan Exports said “It is not helping much because instead of 10 and 12 percent duty drawback allowed to be claimed earlier; manufacturers are now receiving only about 6 to 9 percent. Moreover, the Indian cotton industry is also facing serious problems from neighboring countries like Pakistanand China and a further continuation of this trend is likely to incur damage to the exporters.”
Even other export and manufacturing companies strongly believe that DEPB and Duty Drawback policies have not helped much because in spite of the increase in sales, profits have either remained stagnant or declined considerably.
Keeping in mind the present circumstances, it can only be hoped that the Government will take efficacious measures, other then the ones already taken, to help relieve the country from the abysm of rupee appreciation.
