The rupee fall should have brought a windfall to exporters who would have earned dollars which, when converted to rupee, would mean bigger amounts for every shipment. The rupee fall means much for the marine or spice exporter waiting for the payment.
However, it is non-resident Indians who will draw benefits from the slide since the money sent home now accounts for around Rs 39,000 crore, which should be around 24 per cent of the bank deposits.
This would have been an ideal situation for exporters.
But signals emanating from abroad are not at all encouraging. There is a massive shortfall in orders, says former national president of Seafood exporters association of India, Anwar Hashim.