Rising Re to help India Inc profit 12-15% more: Assocham
NEW DELHI: Industry body Assocham said strong rupee against dollar will increase the profit margins of India Inc between 12-15% in long run as exporters are bringing in new technologies with cheaper imports for expanding their existing capacities. “The sectors that are likely to gain a great deal with rupee becoming stronger include petro and petro products, engineering goods, gems and jewellery, drugs as these have imported inputs,” Assocham president Venugopal Dhoot said in a statement while releasing a report on “Impact of Rupee Appreciation on India’s Exports vis-a-vis Economy” here on Thursday. The chamber has recommended in its report that if companies are able to expand their capacities in the rupee appreciating scenario, they would have positive benefits in the long run because demand for Indian products in developed countries is not going to slowdown.