Nishith Gupta News Today

However, they said sectors with a low dependence on imports would gain while others will lose their benefits to higher oil and commodity prices. "Rupee depreciation needs to be seen in comparison with our competing currencies. Any depreciation of the rupee will benefit labour-intensive exports except gems and jewellery because they have a huge import component," said Ajay Sahai, director general, Federation of Indian Export Organisations (FIEO).

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