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Slumping Indian currency boosts exports

Posted on 04 October 2013

In India, a slumping currency has given a boost to exports ranging from handicrafts to garments to the country’s famed Information Technology industry. But experts warn that the boom may be brief unless the country carries out structural reforms that have hampered the growth of export-based industries for decades.
A sprawling factory in the town of Moradabad, in Uttar Pradesh, has been hiring workers at a frantic pace, growing from 1,600 to 2,400 employees in the past year. Over the same period, the value of India’s currency, the rupee, tumbled by about 15 percent against the U.S. dollar………………………………………..Full Article: Source


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