In 2007-08 What are the impacts on Indian industry due to fluctuation of rupee-dollar fluctuation rate?

The rupee appreciated against the dollar during 2007-08, effecting the revenues of IT Companies and exporters. Numerous SME companies that were fully dependent on the exports were either shutdown or lost their business due to rupee appreciation. The FDI and FII investment in Indian stock markets also saw slow down due to this appreciation Pavan.

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