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Turkish Lira at record low, hits India’s exports
Falling earthquake-hit nation’s currency makes imports costly; Mostly merchandise exports of cotton, man-made yarn and textile dyes affected
New Delhi: India’s merchandise exports of commodities such as cotton, manmade yarn and textile dyes may be impacted in the short run to earthquake-hit Turkiye, according to exporters.
Two powerful earthquakes hours apart on Monday last week caused widespread destruction of property and killed more than 28,000 people, leaving millions homeless in Turkiye.
The earthquakes also caused damage to the infrastructure and logistics network with the Port of Iskenderun remaining closed for around a week.
Exports to Turkiye increased to $6.2 billion during April-November 2022 against $5.1 billion in the corresponding period in 2021.
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