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Home arrow News arrow Business News arrow Rising Rupee hits manufacturing SMEs
Rising Rupee hits manufacturing SMEs Print E-mail
Written by Arjun   
Saturday, 23 June 2007
The phenomenal appreciation in the Rupee is hurting the manufacturing sector, specially the small and medium enterprises

 New Delhi: Over the past 12 months the Rupee has appreciated by approximately 10 percent. The National Manufacturing Competitiveness Council (NMCC) has expressed concerns about the impact that the appreciating rupee will have on the manufacturing sector, especially small and medium enterprises (SMEs). The small and medium enterprises constitute approximately 65 per cent of the manufacturing sector in India.
   SMEs have proved to be the largest creators of employment opportunities. They account for more than a third of manufacturing output and exports. With the growth of the economy, new opportunities like defence, civil aviation, tourism, biotechnology and agri-business have emerged in the SME sector.
 
 Dr V. Krishnamurthy, chairman of the National Manufacturing Competitiveness Council, said that the SME sector needed to be provided with quick relief and that the government was looking into the issue.
 
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