MUMBAI: The devaluation of Chinese currency yuan will have an adverse impact on India’s textiles exports and clothing, which is facing sluggish growth due to recessionary conditions in global markets, an industry body has said.
“The sudden move on the part of China to devalue its currency yuan will have an adverse impact on India’s exports of textiles and clothing, which are facing already sluggish growth due to recessionary conditions in global markets,” Texprocil chairman R K Dalmia said in a statement here.
China’s central bank on Tuesday devalued its tightly controlled currency by close to 2 per cent to boost exports amid a slowdown in the world’s second-largest economy and the recent stock market crash.
INDIA NEEDS TO MATCH CHINA DEVALUATION OF CURRENCY SO OUR EXPORTERS DO NOT SUFFER IN WORLD MARKETS.
SO MODI DID AWAY WITH PLANNING COMMISSION, AS HE IS SUPER DUPER ECONOMIST..
devaluation to improve exports ? do they think customers are fools to buy the low grade products, China products are nothing but dirt, few which are on demand never lower their price. it is the quality which brings customer satisfaction and increase in sales. India if maintains the quality, the price itself will be a factor in determining the quality. market surely boosts up.
there will be many many problems for the india ji – not only textiles – but not to worry the super fm – the slippery one from the amritsar ji and the supreme leader of the bjp ji and the rss ji – the modi ji are both here. in the past we have seen the supreme leader single handedly bring down oil prices – now all he needs to do ji is use his friendship with the china ji and the obama ji and ask china ji not to mess with the india ji – this is childs play for the supreme leader ji
IN FACT INDIA IS DEVALUED BY B J P! CHINW DID YUVAN BUT HERE ALL CITIZENS.!!!!!!!!! HOW LUCKY TO BE SLAVES OF POLITICIANS!!!!!!!!
MODI IS INDIA’S SUPER PLANNER AND ECONOMIST, SO HE TRAVELS ABROAD ON AND OFF YOU ALL SEE HE ALREADY COVERED OVER 25 COUNTRIES AT INDIAN EXCHEQUER COST!