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2003-5-29 9:33:00
After the Iraq war and SARS, it is now the appreciating rupee that is giving sleepless nights to exporters. Though most big exporters have hedged against the falling value of dollar, small exporters, who are contributing about 40 per cent to the total Indian exports, have been hit during the past three months.
Says Mr Ajit Lakra, President, Ludhiana Knitters Association, "About 50 per cent traders, who are exporting textiles to the USA, Canada, West Asia and Latin American countries in dollar terms, have been badly hit. Despite low returns, we cannot cancel the orders due to a clause that a supplier will have to compensate in case of cancellation of orders. However, now it is becoming extremely difficult to get new orders."
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