Indian Rupee Getting Cheaper: Opportunity or Curse?
By siliconindia   |   Wednesday, 23 November 2011, 01:06 IST   |    5 Comments
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4. Diamonds and Gems makers look to capitalize:
Diamond and Gems
For the diamonds and gems industry, the falling rupee coincides with the peaking demand during the Christmas-New Year season. Diamantaires in Surat, the world's biggest diamond cutting and polishing centre, are hoping to cash in on the weakening rupee. Diamond companies import rough diamonds, paying cash and the rupee depreciation helps the industry pay out lower on imports than what it earns through export. "The dipping rupee helps the industry in all the merchandize and non-merchandize jewellery export as it hedges its risk against raw material well in advance," said Rajiv Jain, chairman of Gems and Jewellery Export Promotion Council (GJEPC).

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