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Rupee at 80: Textiles, gems & jewellery upbeat, but gains may not sustain

Textile industry players indicate that the weak rupee will help the industry, which is a net exporter, to the extent of 5-10 per cent rise in profit margins

Rupee (Photo: Bloomberg)
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he caveat, however, is that the gains may not be outright, and for some may be short-lived.

Vinay UmarjiShine Jacob Ahmedabad/Chennai
With the rupee breaching the psychological barrier of 80 to a US dollar, both gems and jewellery, and the textile sectors are upbeat. The caveat, however, is that the gains may not be outright, and for some may be short-lived.

Textiles & Readymade Garments

Textile industry players indicate that the weak rupee will help the industry, which is a net exporter, to the extent of 5-10 per cent rise in profit margins. However, industry sources also say that the gains may be short-lived as customers will demand revised rates in upcoming orders.

“Textiles is a net exporter; hence