Small exporters feel the pain as Indian rupee slides to an all-time low

Weaker currency makes some customers to demand benefits or discounts, rue exporters

The Indian rupee sliding to an all-time low is often considered a boon for India’s exports. Smaller exporters have a different story to share.

Agra-based leather footwear exporter Gopal Gupta who has been grappling with challenges and uncertainty fuelled by the Russia-Ukraine conflict that has resulted in high logistics costs, has cancelled orders. A weaker local currency has also led to higher import costs and shrinking margins over the last three months.

“The fact that a weaker currency bodes well for exports doesn’t apply to all. When the rupee depreciates, our customers demand benefits or discounts,” said Gupta.

“Right now, our import cost