"We cannot remain insulated and the wisdom lies in cushioning ourselves with generating more traction in the domestic economy while seeking to make Indian exports competitive," Kanoria said.
Any depreciation in rupee on account of China-led turmoil in the global financial markets should only be welcome sign for India, or else Indian export#
Even in a third country market, the currency devaluation in China can make things difficult for Indian goods since the rupee depreciation has not been sharp enough to give competitive edge to the country's exporters.
“The fact that China and India compete for several export items such as textiles, leather goods, light engineering, gems and jewellery etc is an additional challenge faced by the Indian exporters. Besides, there is also a concern that a weaker Yuan will help China dump goods into the Indian market,” the paper said. (SH)
ALCHEMPro News Desk - India
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