Corsair’s M A Mannan on impact of rupee crash on IT industry

17th September 2013 | By Mouseworld Now Correspondent |

M A Mannan Country Manager Corsair Memory India pic1With the devaluation of the Indian rupee against the US dollar, there has been an upheaveal in the entire Indian business world. IT industry being the face of business excellence in India has also been party to the fiscal commotion. To record the perspectives of the poster-boys of Indian IT on the vital issue, Mouseworld Now has started this series.

In this part, Mr. M A Mannan, Country Manager, Corsair Memory India has offered his expert comments on the vital issue facing the IT industry because of the rupee devaluation in the international market. Here are the edited excerpts…

Rupee depreciation has direct impact on price hike. With rupee depreciation by 10%, price
hike in IT products will be15-20%. All business operations come to a standstill with rupee
depreciation, as an importer has to remit more rupees than his purchase and selling price
which is huge loss and this slows down the purchase cycle and shipment would go on hold as
importing at this price would increase landing cost which would not be easily accepted by the
markets.

Everyone goes into wait and watch mode, doing back to back sales which overall
badly hits the sales cycle. No one wants to buy as new price whereas everyone expects price to go back when rupee appreciates in next few days.

 

© Mouseworld Now News Service

 

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