#New Delhi

Indian rupee slipping below the record 88.75 level against the US dollar will help enhance price competitiveness of Indian products in the international markets, but exporters cautioned that fluctuations could pose challenges at import front.

Import-dependent sectors such as gems and jewellery, petroleum and electronics may see lower benefits due to a rise in input costs, they said.

“The depreciation will definitely help exporters in the short run. But we need stability in the value against the US dollar,” Federation of Indian Export Organisations (FIEO) President S C Ralhan said.

The primary and immediate impact of a depreciating rupee is on the importers who will have to shell out more for the same quantity and price. India is 85% dependent on foreign oil to meet its needs

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