New Delhi: The appreciation of the rupee is going to spell good news for the Indian exporters and increase their profit margins by 12-15 percent with the help of new technologies with cheaper imports, said a study by a leading industry body.

The rupee, which has been constantly appreciating against the U.S. dollar for over a year now, has not only made imports cheaper but induced large scale technological upgradation in the manufacturing sector, the report by the Associated Chambers of Commerce and Industry of India (Assocham) said.

"The sectors that are likely to gain a great deal with rupee becoming stronger include petroleum and petroleum products, engineering goods, gems and jewellery, drugs and pharmaceuticals as these sectors have imported inputs with respective percentage of 77.18 percent, 21.55 percent, 92.44 percent and 19.41 percent," said Venugopal N. Dhoot, president of Assocham.

Import of machinery and technology has become cheaper due to a strong rupee, which will benefit Indian manufacturers in the long run, said the report.

"One area where India competes with the global developed markets and also the emerging markets is in regard to export of computer software. The appreciation of the rupee, in the longer run, is going to affect the IT services sector also," the report stated.

"However, through adjustments in margins and higher efficiency and prudent hedging of exposures, this sector may be able to overcome such adverse situation," it noted.

While a stronger rupee would have a negative impact on export growth, one would also need to understand that the continuing higher inflation would ultimately lead to rise in domestic price of commodities, which are essential inputs for exporters. This would also indirectly reduce export competitiveness in the global markets even with a stable exchange rate, the body said.