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Our Bureau

Bangalore, Jan 9

Apparel exports could take a hit this year, following a strong rupee, Mr Rajendra Hinduja, Executive Director, Gokaldas Exports, said.

“Last year (2006-07), apparel exports were about $9.4 billion. This year (2007-08), it could be down to $8.5 billion,” said Mr Hinduja, on the sidelines of a press conference to announce the China Sewing Machinery and Accessories Show in Bangalore.

He also rued that the impact of service tax on rentals. Although job losses were a harsh reality due to a strengthening rupee, Mr Hinduja said the industry would be back on track in a month or two.

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