Rupee: Exports aren't rising, India Inc is hurting more

Given how India’s exports have been falling—FY13 saw a drop of 1.2% over the previous year, despite the rupee having depreciated 14%—it is evident translating the gains from a weaker currency isn’t easy; in a weak demand environment, buyers pretty much demand deep discounts, and the pace of exports depends on global growth. On Tuesday, the IMF once again lowered its estimates of 2013 global trade growth—to 3.1% from the 4.5% forecast last October. 

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