INDIA: Rising rupee may cost 600,000 textile jobs
The appreciation of the Indian rupee could lead to the loss of around 570,000 textile industry jobs this year, according to the Confederation of Indian Textile Industry (CITI).
Local media said CITI's report on the 'Impact of Textile Export Deceleration on Employment' pointed to the loss of 272,000 direct jobs, with the remainder made up of those in allied sectors.
The rupee has risen by 10% on most exchange markets in the last six months leading to a slowdown in exports.
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