Rising Re will hit synthetic exports'

Mumbai: Exports of man-made fibre textiles are expected to slow down as a result of the appreciating rupee. The target of $2,921 million set for the current financial year looks a distant possibility in the current scenario, according to Mr Sanjeev Saran, Chairman of the Synthetic & Rayon Textiles Export Promotion Council (SRTEPC).

During the last three months, currencies of competing countries like China and Indonesia have remained almost unchanged while those of South Korea and Thailand have gained 1-3 per cent, making Indian exporters uncompetitive in the international market.