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Article: Textile sector in knots on rupee rise.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- December 29, 2007
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Textile sector in knots on rupee rise
By: Yoshita Singh
New Delhi, Dec 29 (PTI) A stitch in time saves nine, goes the famous saying, but the rapid rise in rupee value caught India's textile exporters almost off-guard in the year gone by as they struggled to remain globally competitive.
Textile firms not only fought the hardening rupee, but also had to bear high interest, raw material costs and poor infrastructure in the year they will not forget in a hurry.
While 2007 began on a promising note with government extending the popular Technology Upgradation Fund Scheme for the 11th plan period, the jubilation did not last long.
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