By Nimesh Vora

MUMBAI (Reuters) – With punitive U.S. tariffs about to take effect on Wednesday, most Indian companies remain light on hedges, data from a clearing house shows, increasing their exposure to rupee fluctuations.

Indian importers booked $21.8 billion of forward dollar/rupee contracts between August 1 and August 21, CCIL data shows.

That tally, averaging $2.6 billion a day, is the lowest pace of this fiscal year which begins in April and compares with a $3.3 billion daily average, heightening the exposure of Indian importers to currency volatility.

While seasonal factors typically weigh on August activity, the subdued hedging activity stands out considering that U.S. President Donald Trump flagged the prospect of steeper India tariffs in the first week of the month, two anal

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