Businessmen say dollar price will impact import, export : The Tribune India

Join Whatsapp Channel

Businessmen say dollar price will impact import, export

LUDHIANA: As the dollar index rose to its highest level, crossing Rs 70 mark, in the past few days, this will certainly cast a shadow over imports and exports.



Shivani Bhakoo

Tribune News Service

Ludhiana, August 17

As the dollar index rose to its highest level, crossing Rs 70 mark, in the past few days, this will certainly cast a shadow over imports and exports.

While the exporters see it as a good sign, the importers are worried as the raw material, especially scrap coming from other countries, will now be available at higher prices.

SC Ralhan, former FIEO president, said the dollar had reached its highest level. “The exporters will be benefitted with this as they will be paid more for their product. It is believed that in the next few days, it will cross Rs 71,” said Ralhan.

Federation of Punjab Small Industries Association (FOPSIA) president Badish Jindal said: “Most of the scrap is coming from UAE and Europe. With an increase in the dollar value, the Indian scrap buyers will have to shell out more money. Steel will be expensive and ultimately, the end product will be costlier. For exporters, it is beneficial, but troublesome for importers,” said Jindal.

Voicing similar views, Sahil Aggarwal from Ganpati Impex Private Limited said this would cast an impact on the prices of crude oil as well.

Top News

Chief Judicial Magistrate's court in UP's Banda orders judicial inquiry into death of gangster-politician Mukhtar Ansari

UP court orders judicial probe into Mukhtar Ansari’s death

The CJM has sought the probe report within a month

‘Heart attack or poisoning’: The life and times of Mukhtar Ansari—crime and politics

‘Heart attack or poisoning’: The life and times of Mukhtar Ansari—crime and politics

Eastern parts of Uttar Pradesh are among the poorest regions...

Alka Rai, widow BJP MLA killed by Mukhtar Ansari, says 'justice has been served', visits Ram Mandir

Alka Rai, widow BJP MLA killed by Mukhtar Ansari, says 'justice has been served', visits Ram Mandir

Alka Rai is the wife of MLA Krishanand Rai, who was shot dea...

Cash-strapped Congress gets fresh IT notice of Rs 1,700 crore, say party insiders

Cash-strapped Congress gets fresh I-T notice of Rs 1,800 crore

Ajay Maken addresses a press conference

Special court convicts 7 people in BSP MLA Raju Pal murder case

Special court convicts 7 people in BSP MLA Raju Pal murder case

The proceedings against Atiq Ahmad, his brother and prime ac...


Cities

View All